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Nice way to finish the week....even if it that last buy was only 500 shares. Enjoy the weekend.
KR
It would be nice to see a few up trades to end the day....
...or has everyone checked out for the weekend?
If so, let's continue this ride on Monday.
KR
Volume picking up....
Late day volume surge....just printed $1.17
Len: I may be wrong on my take here, but it just feels like too much of a coincidence to me.
Either way, it's a sad story.
KR
Len:
-- Yankees pitcher Cory Lidle was the sole person aboard the plane that crashed into a high-rise apartment building in New York, FBI officials say.
This smells of suicide.
Liddle pitched a horrible inning in their final losing game of the Detroit series. The pressures of being a must-perform Yankee pitcher may have done him in.
Just my opinion, of course.
KR
40k short...let's hope for follow-through on this advance tomorrow.
KR
Printing $1.14....would like to see at least 150k volume by EOD.
EGLE - bullish freight outlook for 2007
RTRS-INTERVIEW-Eagle Bulk sees bullish freight outlook for 2007
By Edgar Ang
NEW YORK, Oct 2 (Reuters) - The head of the largest U.S.-based Handymax dry bulk vessel owner, Eagle Bulk Shipping Inc. <EGLE.O>, predicts a multiyear uptrend for the small dry bulk vessel market, defying some bearish expectations by ship brokers.
In mid-September, ocean freight rate for dry commodities soared to a 17-month high on surging Chinese iron ore purchases, long-term charter deals, strong fundamentals and sentiment ahead of peak fourth-quarter demand for transport, but some ship brokers expect the bull run to fizzle out soon when more new vessels join the active fleet next year.
"We are at the beginning of a multiyear scenario" for the dry bulk freight market uptrend, Sophocles Zoullas, the company's chief executive, told Reuters in a recent interview.
"The supply side of the equation could sustain the uptrend next year."
The bullish market projection was supported by an expected incremental decline in the supply of Handymax vessels, which have a capacity of below 60,000 dwt, over the next four years.
Zoullas pointed out that about 32 percent of the aging Handymax fleet was more than 20 years old and was expected to be retired eventually due to safety concerns.
Eagle Bulk owns and operates 16 vessels, of which 12 are of 50,000-59,999-dwt Supramax size. The average age of the fleet is about 5.5 years.
Besides the expected shortfall in vessel supply, the demand fundamentals were also strong, helping to extend the recent bull run, Zoullas said.
In 2006, China's demand for iron ore, steel and cement were expected to jump by double digits.
About 60 percent of Chinese berths do not have the capability to handle larger Panamax and Capesize vessels.
Demand in the Persian Gulf and India was also climbing, he said.
"India buys about 6 million tonnes of grains a year, but we were told today that India will increase its grain demand to 8 million tonnes next year," Zoullas said.
Indian ports would require mostly Handymax vessels for their grain transportation due to the port infrastructure limitations, he said.
"It is also about the broadening of demand base, and not just about the demand growth," Zoullas said, explaining the sustainability of the demand growth.
Eagle Bulk vessels transport iron ore, coal, grains, cement, petroleum coke, steel, scrap iron and other commodities.
CAUTIOUS EXPANSION
Eagle Bulk remained in a cautious expansion mode, with the company's last ship acquisition seen in June, Zoullas said.
"Eagle Bulk is a growth company, and is always looking for opportunities (to grow)," he said.
However, he stressed that the future vessel acquisitions in the near term could be tricky, given the higher asset values versus the lower chartering rates.
"We identified a small window where there was an opportunity for us to acquire vessels because the asset prices had not moved and the demand had moved up," Zoullas said, referring to the purchase in June.
On ship security, Eagle Bulk will avoid sailing to war-torn countries even if it were offered attractive premiums over the regular shipping rates.
"We will not expose our assets and crew to that type of risk" in war-torn areas such as Iraq and Iran, Zoullas said.
((Editing by Matthew Lewis; Reuters Messaging: edgar.ang.reuters.com@reuters.net: <mailto:edgar.ang.reuters.com@reuters.net> ; Email: edgar.ang@reuters.com: <mailto:edgar.ang@reuters.com> ; +1 646 2236507))
GACF ticking up....
XPO: Bowser Report Initiates Coverage
http://biz.yahoo.com/bw/060922/20060922005311.html?.v=1
Does anyone have the details on this? Does this report carry any weight?
TIA, KR
EZEN: where is the bottom?
yinser: PDGE - Thanks for the response.
Action today is promising. Let's see what tomorrow brings.
KR
PDGE earnings in the morning. Estimates?
KR
I am not a number. I'm a free man.
QMRK - QualMark Corporation Announces Conversion of the Remaining Outstanding Preferred Shares into Common Shares
Wednesday August 30, 3:01 pm ET
DENVER--(BUSINESS WIRE)--Aug. 30, 2006--QualMark Corporation (OTCBB: QMRK - News), a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electro-dynamic systems, today announced the conversion of all of the outstanding Series C preferred shares into common shares, which eliminates all outstanding preferred stock on the QualMark balance sheet.
Upon conversion of the Series C preferred shares, QualMark's outstanding common shares will increase to approximately 8.8 million and stockholders equity will increase to approximately $6 million. The conversion of the Series C preferred shares will eliminate the preferred stockholder's right to receive a preferential distribution and cumulative dividend. The conversion also eliminates the preferred stockholder's right to redeem the preferred shares, which would have created an additional debt overhang to the Company.
Charles Johnston, QualMark's President and CEO, stated: "This event follows the conversion of the Series B preferred shares that occurred two weeks prior and completely eliminates all outstanding preferred stock on the QualMark balance sheet. The conversion will result in a simpler equity structure. It also eliminates the dilution and preferred dividend cost to the Company, as well as the debt overhang that previously existed. The conversion of the preferred shares propels the Company one step closer to meeting listing requirements of a major exchange."
James Roser, Manager of the General Partner of The Roser Partnership III, SBIC LP and sole holder of the Series C preferred shares, stated, "Our decision to convert the Series C preferred shares is attributable to our continued commitment to help the Company move forward and attain their strategic goals." Roser continued, "Our intent is to support and help build QualMark into the world-class organization that we feel it can be."
QualMark Corporation, headquartered in Denver, Colorado, is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS), providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 700 of its proprietary testing systems in 30 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electro-dynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut, is the leader in supplying electro-dynamic systems, components, and service to the worldwide vibration test equipment market.
GACF: I doubled up as well at 0.98.
KR
GACF...from 10Q:
Management is cautiously optimistic that our adeptness at garnering jobs with the likelihood of similar high gross profit potential and our continued vigilance at holding down costs will be sustainable for the remainder of 2006. HAT's option of being selective in the work booked is due to their growing reputation for providing quality, on-budget, on-time deliveries to their customers. HAT and World Jet are experiencing success in securing new customers and securing more business from existing customers as well. Global has experienced some success in branching out into the aircraft trading arena and Management believes this segment will experience increasing growth and profits during the last half of 2006 and into the future.
XPO earnings out...pounding the table on this one....
Express-1 Expedited Solutions Reports Record Profitability and Solid Top-Line Growth in the Second Quarter of 2006
Thursday August 3, 8:10 am ET
Company Delivers 38% Increase in Expedited Transportation Revenue and Highest Gross Margin in Its History
BUCHANAN, Mich.--(BUSINESS WIRE)--Aug. 3, 2006--Express-1 Expedited Solutions, Inc. (The Company) (AMEX: XPO - News) today announced its financial results for the quarter ended June 30, 2006.
For the second quarter of 2006, the Company reported that revenues increased to $11.1 million from $10.3 million in the second quarter of 2005. The Company's GAAP net income for the second quarter of 2006 was $848,000, or $0.03 per share. This compares with a net loss of $1.2 million, or $0.05 per share, for the second quarter last year, including $375,000 in restructuring charges. EBITDA for the second quarter of 2006 was $1.2 million, compared with an EBITDA loss of $370,000 for the year-ago quarter. Please refer to Table 1 for a reconciliation of net income, as reported, to EBITDA.
"The Company continued to execute its growth strategy during the second quarter, and we delivered record profitability on the strength of our expedited transportation business," said Michael Welch, the Company's president and chief executive officer. "In 2005, we made the decision to divest some unprofitable operations and focus squarely on growing our core business - expedited transportation solutions for time-critical shipments. Our second-quarter results demonstrate that our strategy is on target. Our Express-1 fleet size increased 28% from the second quarter of 2005, and utilization rates improved by 9%. This combination of growing truck count and higher number of loaded miles per truck per week generated a 38% increase in Express-1 revenue. At the same time, our Evansville operation posted 18% revenue growth."
"Express-1 continues to outperform the expedite industry in the competency most critical for business success - attracting, recruiting and retaining qualified drivers," said Welch. "Thanks to stronger brand awareness of Express-1 and our gains in market share, our owner-operators have experienced steady increases in loaded miles per week. In addition, during the second quarter we rolled out a series of steps designed to improve cash flow and quality of life for Express-1 drivers. Along with a rate increase and utilization bonus program for miles run per month, these initiatives included a faster payment schedule and more convenient access to cash while on the road. To enhance our driver recruiting, we introduced a rewards program for Express-1 drivers who refer owner-operators of straight trucks to us. As a result of Express-1's growing reputation as a driver-friendly organization, we substantially expanded the size of our fleet at a time of severe constraints in owner-operator availability."
The Company's Chief Financial Officer Mark Patterson said, "Our second-quarter results reflect significantly stronger operating leverage in our core business. As a result of our transition to a variable cost model and greater reliance on independent contractors to supply our fleet, gross margin increased to 25.7% from 21.7% for the second quarter of 2005. Coupled with the elimination of prior restructuring expenses, these cost reduction initiatives enabled us to deliver substantial increases in EBITDA and net income for the quarter."
Additional Second-Quarter Financial Information
Operating expenses, which consist primarily of payment for owner-operator and partner trucking services, fuel, maintenance and insurance costs, increased to $8.3 million for the second quarter of 2006 from $8.1 million a year earlier.
Gross profit for the second quarter of 2006 improved to $2.9 million, or 25.7 percent of consolidated revenue, from $2.2 million, or 21.7 percent of consolidated revenue, for the second quarter of 2005.
Selling, general and administrative expenses (SG&A) were $1.9 million, down 41 percent from $3.3 million for the second quarter of 2005. Approximately $375,000 in restructuring charges were recorded in the second quarter of 2005 and are included in SG&A expenses for that period.
Operating ratio improved by 18 percent to 91.2 percent for the second quarter of 2006, from 111.4 percent for the year-earlier quarter.
Outlook and Financial Guidance
"The Company has grown significantly faster than the expedited industry during the first half of 2006, and our objective is to continue to outperform during the second half of the year," Welch said. "Our recent efforts to increase our truck count through enhanced driver recruiting and retention have created strong momentum on the capacity side as we begin the third quarter. At the same time, we continue to make excellent progress in diversifying our customer base. Our sales and customer service organization is well-positioned to generate and support increased business volume across an expanding fleet. In addition, reflecting our broadening relationships with third-party carriers, the brokerage component of our business continues to gain strength. We look forward to leveraging these positive dynamics to extend the Company's growth and profitability gains throughout the year."
Express-1 Expedited Solutions, Inc. reiterated its previously announced guidance for full year 2006. The Company continues to expect that revenue for 2006 will be in the range of $39 million to $42 million, representing approximately 17% to 18% growth in the Company's remaining operations. The Company expects full-year net income in the range of $0.10 to $0.12 per share based on its current shares outstanding.
IECE - Back to profitability with higher profits projected (see release below).
I have mentioned this company here before, but two recent non-profitable quarters made it ineligible for this forum. However, todays profitable (albeit marginally) Q3 announcement should make this a mainstay here. It's a great turnaround story that that in the late 90s traded as high as $25. Current valuations make this very attractive:
Price: $1.01
Market Cap: $8.41M
TTM Revs: $18.7M
Today's Q2 release:
IEC Announces Third Quarter Results For Fiscal 2006
Newark, NY - July 26, 2006 - IEC Electronics Corp. (IECE.OB) announced its
results for the third quarter of fiscal 2006, ending June 30, 2006.
The Company reported revenue of $5.4 million for the quarter and net profit of
$79,000 or $0.01 per share. This compares to revenue of $4.0 million and net
income of $78,000 or $0.01 per share for the quarter ended July 1, 2005.
For the first nine months of fiscal 2006, IEC's revenue was $14.6 million with a
net loss of $(137,000) or $(0.02) per share. This compares to revenue of $14.9
million and net income for the first nine months of fiscal 2005 of $234,000 or
$0.03 per share.
W. Barry Gilbert, Chairman of the Board and CEO, stated, "We continue to add new
accounts and grow volume of existing customers, and are pleased we had a
profitable quarter. Our sales are more than 30 % ahead of last year at this
time. However, the additional sales have not yet translated into a significant
profit increase. We have been steadily and selectively increasing our employment
base, adding back some key positions eliminated during more difficult times.
These positions go to the heart of our business and are critical if we are to
provide the level of services necessary to support our growth with our customers
and to continue driving the business forward.
Our sales and profitability will continue to gain momentum. Barring unforeseen
challenges, we expect our sales to increase about 70% for the fourth quarter of
this fiscal year over the quarter just reported. Although this level of sales
growth cannot be maintained we anticipate favorable quarterly comparisons
throughout 2007, and are excited about our prospects. Our new customers are
ramping up their volumes with us as anticipated. These higher volumes testify to
the confidence these new accounts are placing in IEC, and confirm our strategy
of not sacrificing long-run growth for short-term profits. We are slowly
rebuilding IEC into the premier company it once was.
Each quarter for the last year the report to shareholders has closed with the
sentence: `The Company continues to move in the right direction and we are
confident that we are creating future value for our shareholders and opportunity
for our employees.' That's what we continue to believe."
XPO: 100k bid at $1.40 executed.
XPO...up 40% in a week....are we building a new base here at $1.40 or do we go higher/lower? Strongest quarters are ahead of us.
kr
XPO - another 52wk High
XPO makes new 52wk high
BBC - where is the support?
PDGE Q1 on June 14 before open.
PDGE - Perhaps. This could be a fund buying in anticipation of an AMEX listing.
PDGE trading exploding. 2M+ volume. Cause?
QMRK earnings out on Tuesday
This is a profitable growth story in a hot industry (flat panel TVs)....QMRK does the testing.
http://finance.yahoo.com/q/is?s=QMRK.OB&annual
Profitable (+.12 eps in Q4)
9M shares out
Low float
A+ customer list
Electronic testing products applicable to many industries
PHPG 30x avg volume today already
hogfan - PDGE: re AMEX listing
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=PDGE&read=2475
PHPG: Fantastic report
Photonic Products Group, Inc. Reports Its Fourth Quarter and FY 2005 Results
Friday March 31, 12:23 pm ET
NORTHVALE, N.J., March 31 /PRNewswire-FirstCall/ -- Photonic Products Group, Inc. (OTC Bulletin Board: PHPG - News) today reported its consolidated, audited, financial results for its fourth quarter and fiscal year which ended December 31, 2005.
The Company reported revenues for its fourth quarter of $3,863,000, compared with revenues of $2,916,000 a year ago, up 32%. Bookings for the fourth quarter were $3,434,000 vs. $2,580,000 a year ago, up 33%. Basic earnings per share for the fourth quarter were positive at $0.05, while fully diluted earnings per share were $0.03. This compares with a loss per share during the fourth quarter of 2004 of $(0.01), on both a basic and fully diluted basis.
Revenues for the full year were $13,785,000, up 49% from last year. Product orders for the year were $15,308,000, up 36%. The backlog of product orders at the end of 2005 rose to $7,876,000, 22% higher than at the end of 2004.
Gross margins for the year were 27.4% in 2005 vs. 28.2% in 2004. Gross margins in the first half of 2005 were 21.8%, negatively impacted by low gross margins at the Company's newly acquired MRC Optics subsidiary during that period. Gross margins in the second half of 2005 were 31.0%.
Earnings approached break-even for the year with a loss in net income of $(11,000), continuing their improvement from losses of $(673,000) in 2004 and $(1,654,000) in 2003. Net income in 2005 included a profit of $134,000 from the sale of non-productive production assets.
Both basic and diluted EPS, computed on net income after accounting for the common stock dividend on preferred stock, were a loss of $(0.02) per share for the year, compared with a per share loss of $(0.15) in 2004.
EBITDA(1) for the year rose to $1,485,000, up from $303,000 in 2004.
Net cash flow from operating activities was $360,000 for the year, compared with $632,000 in 2004. The cash balance at the end of the year was $1,157,000 compared with $1,394,000 at the end of 2004.
Dan Lehrfeld, President and CEO of PPGI commented, "We achieved most of our priority goals for the year. Revenues and bookings again hit new records, and we continued to realize synergies between our business units. We saw increasing demand for our products and services, especially from OEM customers in the defense and aerospace sector. Our NJ-based INRAD and Laser Optics businesses reached new record levels of revenues. Revenues at our MRC Optics subsidiary were weak during the first half, but finished up 35% year-over-year in their first full year as part of PPGI. Both gross margins and order intake there improved in the second half of the year.
Both Q3 and Q4 were profitable, with basic EPS of $0.04 and $0.05 respectively. We had not expected to be profitable for the year in 2005, but we came close. EBITDA rose as well, to 11% of sales, continuing its movement in the right direction.
The integration of our MRC Optics subsidiary acquisition, strengthening of their operational performance, and slower than anticipated growth in their top line during the first half required significantly more cash than we had anticipated. Accordingly we sold off some $315,000 of excess, non-productive assets at mid-year to bolster our corporate cash reserves. Cash flow from our NJ operations was strongly positive for the year. Consolidated cash flow from operations for the Company recovered in the second half, and we ended the year with our cash balance back above $1.1 million."
Mr. Lehrfeld added, "Our focus now is 2006. We started the new year with deployment of over $700,000 of debt-financed, state-of-the art, precision lens manufacturing equipment, now operational and busy addressing a growing backlog of production commitments. We are targeting higher revenues, positive net income, positive net cash flow, and record EBITDA for the year as a whole, expecting these metrics to rise as we move through the year."
(1) Note Regarding Use of Certain Non-GAAP Financial Measures
EBITDA is defined as earnings before non-cash, stock-based
compensation, net interest, income taxes, depreciation, and
amortization. EBITDA is presented herein because it is indicative of
PPGI's ability to internally fund capital expenditures and service
debt. EBITDA should not be considered as indicative of PPGI's
financial performance, as an alternative to cash flow, or as a measure
of liquidity. Refer to the Supplemental Financial Data set forth below
for a reconciliation of net income to EBITDA.
Reconciliation of EBITDA to Net Loss: 2005 2004
NET INCOME/(LOSS) $(11,000) $(673,000)
NON-CASH, STOCK-BASED COMPENSATION 21,000 0
NON-GAAP NET INCOME/LOSS 10,000 $(673,000)
INCOME TAX BENEFIT (0) (96,000)
INTEREST EXPENSE 505,000 359,000
DEPRECIATION & AMORTIZATION 970,000 713,000
EBITDA $1,485,000 $303,000
Photonic Products Group, Inc. develops, manufactures, and markets products and services for use in diverse Photonics industry sectors via its expanding portfolio of distinctly branded businesses. INRAD specializes in crystal-based optical components and devices, laser accessories and instruments. Laser Optics specializes in precision custom optical components, assemblies, and optical coatings. MRC Optics' business specializes in precision diamond turned optics, metal optics, and opto-mechanical and electro-optical assemblies. PPGI's customers include leading corporations in the Defense and Aerospace, Laser Systems, and Process Control and Metrology sectors of the Photonics Industry, as well as the U.S. Government. Its products are also used by researchers at National Laboratories and Universities world-wide.
PDGE Amex hearing is today
FRD announces cash dividend
Another $0.08/sh dividend announced yesterday after close. For shareholders on record on April 28.
Stock up 6% this morning on 2x avg volume....on top of runup into close yesterday.
We're headed for double digits.
PDGE appeal to the AMEX will be heard on Thursday, March 30. The only issue as the company understands it is the $2.00 stock price, which they say is permitted under the two alternatives which they are seeking listing under. This was from Tod Fortier, the CFO.
Note: information derived from reliable source on RB.
bigpike - FRD is taking a serious step in that direction today. Up over 8% on good volume. The Kramer effect would get us into double digits from here....then it's probably time to sell