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Hey congrats to all holders of AMLJ stock! This was a huge position of mine last year, but I had sold alot off because I was nervous about the prospects for the MEADS program.
This just came out today:
http://www.armytimes.com/news/2011/02/defense_U.S._will_not-field_MEADS_021411/
I agree! The sales improvment is very encouraging. Between this and APNC I 'm am very pleased today
The company released preliminary Q4 results this week and revenues were 17MM if I remember correctly. They include a 10MM sale that Divestco made in Oct.
The guy's article really nailed all bases. I bought in pretty much on the basis of that alone. What I like is that the acquisition increases their revs while adding practicly nothing to the expenses. Also, Alberta province is moving to a more exploration friendly tax policy which should help sales.
What I dont like is they are 70% levered to nat gas. The $3 a share buyout offers they were getting back in the go go days of 06 and 07 were with a much higher gas price.
Any one familiar with PSD.TO?
This is a Canadian company which owns a library of seismic data for the Alberta province.
Heres a link to a write up about it.
http://www.aboveaverageodds.com/
A & P stores, where they have alot of machines placed, came out with their financial results after the close yesterday. Glancing at them, I didnt see anything unusual though.
It's a great company but I sold out. The business isnt predictable enough for me. Plus I dont understand the market for encryption equipment well at all.
That being said, they definatly proved their mettle this year handling the threefold increase in revs with hardly a bump in SG&A.
GLTA
Its a nice little contract. But the bankrupcy of A&P stores is going to hang over the stock price for a while. That's who they have the 320+ DVD kiosks and ATMs with.
I sold some yesterday and Friday just because I felt I had overdone it buying their stock. My guess is that its just a restructuring and the stores arent closed or sold to competitors for the most part. After all A&P has been a name for over a hundred years. But that s a guess I dont know how these bankrupcies play out.
The aquisition announced last week can be used as an opportunity to reach a value for the business. They paid about a million for 140 ATMs. What do they have about 1700 company owned ATM's. So do a little algebra and get about 12 million for the company owned ATMS. Plus DVD kiosks etc.
1.5 million seems like a good price for the Tejas acquisition. It makes me wonder why such a good price? NCR has been buying up small DVD operations also. Ive tried calling management, and they dont give me the time of day and direct me to the pr rep.
Lets hope they caught a whale at the presentation today
Too bad I would love to hear.
Would have liked to see better volume today. Anything that might indicate new investors. I didnt see the headline about the 140 ATMs until later in the afternoon. Thought maybe conference atendees were buying a piece.
I ve got so many questions. Havent been able to get a hold of mangement yet.
I guess this stock isnt quite the value stock that many are which sell for their net inventory, recievables and cash.
I havent worked out the figures but I believe the value of the company owned ATMs and DVD kiosks relative to the market value of the stock and the 10 million or so long term debt is pretty low if you compare it to cardtronics or coinstar. Even for being an OTC listed security. There should be some price the competition would be willing to pay for them, to take em out.
Im impressed with their performance this year, and a 50% increase in revenues is pretty much baked in for next year.
I guess Ian wasn't spot on with his price forecast! But what I meant was he's always been enthusiastic about the DVD venture and so far its panning out.
Anyays I was buying last week, they are now my largest position. I hope it doesnt go to 40c but if it does Ill probably buy more.
How do you figure a price in the low forties? That seems ridicously cheap to me. Then I was surprised it even came down to the fifties.
Ive had a small position in the company since last Jan. Really felt like I didn’t understand the business all that well. The costs you listed are annual costs. I don’t see them as a major effect on the company’s profitability. They have depreciation and amortization expenses around 2 mil a year, and I think way more than what they need to spend to maintain the business so free cash flow is pretty good….. I think.
The DVD initiave is looking good so far. A&P stores, which is who they have the 320 machine contract with could potentially go bankrupt. But from what I can tell, the turnaround is on track.
This may be reading too much into things, but I think the price got knocked down because the market felt like A&P was going to go out of business and global access was going to be stuck with a warehouse full of DVD kiosk machines and a bank loan to repay.
With what they have now, they a re a 30 million dollar company in terms of annual revenues. I ll wager that they succeed in getting another 400 DVD machines placed next year bringing the total to 1000. At that amount they will be a 40 million dollar company… half on the ATM side and half DVD side.
This has very real multibagger potential. Ian may have jumped in and drove the price up prematurely, but so far he’s been spot on
Thanks, it sounds like most of the benifits of the automation have already been realized and showed up in the numbers for those quarters.
What you said makes since. If they were getting 50 percent margins under the 2.2 million MALD order, you would think margins would get better with a five and a half million dollar order.
I guess what im trying to get a feel for is what sort of margins to expect next year. Sure the margins were lower this quarter on the lower revs. But I wonder if they were using all that automation last year when they were closer to fifty percent margins. Or could we expect better margins next year when revenues are higer?
Im always hopeful.
AML sure has dissapointed thus far.
The new program valued at one million a year is definatly good news.
I wonder about their gross margins when MALD production ramps up. I think Inbar threw out the fifty percent figure in response to Mike's question. I would have thought it would be better with their new machines and all. Hey Rawnoc how old did that wire bonder and the other machine look when you toured their facility? Do you think they were using it a year ago?
Yoou might not have to wait that long.
Thanks for posting the link!
This looks like a good company, but the amount of convertable preffered stock outstanding concerns me. There are over 9 million preffered shares out which convert to something like 12 million shares of common. Im not sure how the company gets the 20 million fully diluted share count, it seems its more like 27 or 28 million shares.
I havent dug too deeply on it does anyone know
The interest here in the company really dried up quickly. The report wasnt bad, looks to me like they stopped losing sales.
Maybe if the price keeps falling the company will buy back some shares