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yup.. and the dividend is sweet too ($2 last year, and $1 this year, and the giong rate is $1 per year).
I just hope they can continue to produce this kind of result. it will be tough though. earning this wednesday. will be critical to see if they can get any traction inslowing down the business decline.
if they can they will stay here , if not I see the stock going down to probably $10-$12 range post earning..
thanks Digi.. keep us posted... and hope you had fun in Maui.. :)
it's back up now...
i have high hopes for this company..
bueno. I'm busy with work but doing fine. I'm still taking a beating in the market but slowly recovering nicely. I have started investing in more stable/blue chip/technology company last year.
thanks for asking, how about you?
thanks tsoprano. it will be really nice if they can go to AMEX or Nasdaq.
I'm surprised there are people still seling at $3.15
and also that no volume after the 3 days investor conference. I guess it's retail investor conference.
looking forward to $7.50-$10 range..
I'm done adding AWRCF, and now wait and see mode...
good decision selling this stock. one year after, still nothing. I'm trying to remember why I bought this stock to begin with. surely learn a lot from this (ETLT and CXTI were my last 2 blunders, and now adding GENX to the blunder list :) )
have you sold this stock..
I'm goign to sell by december if nothing came up from the company.. looks like they aren't filing their SEC filing no more..
Any news...? It doesn't seem that they are trying to clarify their situation with shareholders..
The price has stabilized and comparable with CNU. some speculate that maybe CNU and MDF should merge. Any thoughts?
I'm long and strong on this one (and on CNU too)..
I'm surprised that after investor conference in SF, the volume for this stock is still dead. seems no one care with this company/stock. the stock price increase today however. I hope they will move out of OTCBB and goes to AMEX or Nasdaq.
I'm also wondering why they don't just merge back with their parent company PEWC and list in a bigger national exchange
I'm long and strong but not adding anymore shares.
Anyone see their latest earning release?
what do you think AWRCF is worth?
$5?
Anyone bought this stock recently (at $13+). any thoughts.. seems that analyst are targetting the stock only worth $7
are you considering buying USMO..
I wonder what will happen to USMO business 2-3 years from now..
Earning coming up soon.. hope dividend is safe...
How's everyone? Long time no see..
Any thoughts on YRCW btw?
Stan
nice move today, earning coming out soon. any thoughts?
From yahoo board : APWCC's CFO Featured by the Wall Street Transcript
CFO Interview: Asia Pacific Wire And Cable Corporation Ltd. - Frank Tseng
Frank Tseng has served as CFO of Asia Pacific Wire & Cable Corporation Ltd. since October 2009. Before joining APWCC, he was the Deputy CFO for ABB Taiwan. Prior to that, Mr. Tseng served as the APAC Regional Controller for Phoenix Technologies, a Silicon Valley-based company that is publicly traded on Nasdaq. Mr. Tseng holds a master's degree in accounting from Georgia State University. He is also a CPA by the State of Illinois.
TWST: Let's start with a brief overview of Asia Pacific Wire & Cable's history, products, services and customers.
Mr. Tseng: The company was established in 1996, when we spun off from our parent company, PEWC, which stands for Pacific Electric Wire & Cable, which operates in four countries, or four regions. PEWC is our largest shareholder and still holds 65% of our shares. Our other major shareholder is SOF, which is a private equity fund of Michael Dell, which owns 9.7%. Altogether, these two companies own about 75%, leaving about 25% to free-float in the market. We are listed in the U.S. under the symbol AWRCF.OB, and we have manufacturing operations in China, Thailand, Singapore and Australia.
In China we produce two kinds of products, enameled wires and fiber-optic cable. Enameled wires are produced in Shenzhen and in the Shanghai area, and fiber-optic cable is produced in a joint venture in Shandong Province, in which we hold a 51% stake. In China we have five operating units. We are also contemplating adding a new one by reopening a facility we had previously shut down due to a product phaseout.
We also have operations in Thailand. Charoong Thai is our flagship company, and we also operate Siam Fiber Optics, SFO, which also manufactures fiber-optic cable. Charoong Thai produces a full range of products, such as power cables, enameled wire, fiber-optic cable and some legacy wire products. We have been in Thailand for 40 years and have developed strong relationships there, which create a strong entry barrier for competitors.
To summarize, Singapore is mostly a mix of government-sponsored projects. In Thailand sales not only come from government-sponsored projects, but also from large construction projects. In China the government is focusing heavily on building out its telecommunications infrastructure. Enameled wires are primarily used by makers of electric motors and consumer appliances, and we also cooperate with Taiwanese manufacturers. Australia produces only low-voltage power cable, which is primarily used for residential as well as commercial projects.
TWST: What are the most important trends, developments or changes you anticipate in your sector over the next two to three years?
Mr. Tseng: Our focus is on China. We have five manufacturing facilities in China which produce enameled wires and fiber-optic cable. We have a dormant manufacturing facility located in Ningbo, in Zhejiang Province, which has been offline for several years. We recently developed a new plan that was approved by the board of directors to convert that property into a new manufacturing facility for producing a new line of electronic wiring. Electronic wiring is mostly used inside components in computers, consumer electronics and automobiles. This is a new product for APWCC, however, our parent company, PEWC, has a technology patent and has been producing electronic wiring for a number of years. PEWC will assist us in setting up the factory, and over a few years, we think it could become our largest operating unit in China. Today the Shenzhen operation, which produces enameled wires, is our largest in China. But over several years, I think the Ningbo operation could exceed Shenzhen's production.
http://www.twst.com/yagoo/ala609.html
From yahoo board: American Metal Market
-- China Watch
Wire, cable maker APWCC seeks to manage copper price risks
Published: Jul 2 2010 2:50PM
SHANGHAI, China -- Asia Pacific Wire & Cable Corp. Ltd. (APWCC), one of the region's largest cable suppliers, is locking in copper prices through direct deals with some suppliers after volatility forced it to take a large writedown in late 2008.
Taipei-based APWCC has fixed copper prices six months forward with some producers, Frank Tseng, the company's chief financial officer, told AMM. "This gives us some protection, though if copper prices drop sharply we could be exposed to losses."
Tseng didn't reveal at what price the company had agreed to buy, although he said he expects copper prices to stay around $6,000 per tonne in the near term, barring any major economic developments.
APWCC bought 28,311 tonnes of copper in 2009, down 33.4 percent from 42,499 tonnes in 2008, according to company figures. It was forced to write down its inventory value by $25.1 million in 2008 as copper prices slumped, driving it to what it described as a "significant loss" that year, although a rebound in copper prices in 2009 boosted inventory value by $23.9 million and helped to nearly quadruple annual gross profits to $46.4 million.
The company often has a two-month manufacturing cycle that exposes it to fluctuations in the copper price, Tseng said. It doesn't hedge its copper price risks through banks or other financial institutions, but would consider doing so in the future, he added.
APWCC, which has a stock listing on the U.S. over-the-counter (OTC) market, is the largest producer of low-voltage power cable in Singapore and is one of the top five producers in Thailand. It also has operations in China and Australia.
It typically sources copper locally in China and Australia, and buys locally and from South Korea for its Thai operations, Tseng said. In Singapore, the company sells copper rod and wire and cable products made by parent company Pacific Electric Wire & Cable Co. Ltd.
The Chinese market, and particularly the country's relatively underdeveloped western region, is the company's top target for expansion, Tseng said. APWCC has several plants in China producing enameled wire and fiber optic cable, but also ships low-voltage power cable products to China from its operations in Singapore and Thailand.
Free-trade deals make it easier to boost its Chinese presence in the market by increasing imports rather than setting up new facilities, Tseng said.
Its import business means APWCC stands to benefit from an appreciation in the value of the yuan. "The stronger the renminbi, the more value we can create—it's a good sign for the Chinese economy that the renminbi is rising, at least for our line of business," he said. "China's government has been good at controlling the overall economic situation, given the vast market that China has."
The yuan likely will rise in value over the next six to eight months, although the pace of appreciation will be slower than many expect, he said.
APWCC also might consider producing railroad cable products for China's booming railroad infrastructure projects, Tseng said.
The company's net income attributable to shareholders soared to $3.7 million in the first quarter of 2010 from $1.5 million a year earlier on revenue that jumped 83.1 percent to $104.9 million from $57.3 million.
http://www.metalbulletin.com/Article/262...
http://www.amm.com/login/amm-*/2010-07-02__14-50-24.html/Wire+cable+maker+APWCC+seek s+to+manage+copper+price+risks
so what's the conclusion.. is it a buy?
welspring management just filed SC13G form to the SEC that they owned 5%+ of AOB (4M shares+)
I know it's dumb, but AOB is not going to buy back stock IMO, it is because in as early as 3 years from now, AOB might be forced to cough up with $115M to pay back the long term debt. And if they use the cash to buy back now (which is so very cheap and such a no brainer move), what happen if the stock is at below $2.5, when they need to repay this loan and they can't refinance it with another debt, they have to issue even more shares than they would buy back.
Obviously if they are able to create some cash flows in the next 3 years that will be good but with the R&D cost and the plan to grow, I don't think they will have much cash flows available to repay the long term debt, plus they will need some cash in the balance sheet to operate (float).
on a separate note, interestingly, the debt they took was also partly becasue of investors pressure for them to take debt because equity is indeed expensive (as they keep issuing shares to do acquisition prior to the $115M debt).
and we know the note holders not going to covnert is to shares since the ovnersion price is way higher than the current price.
==========================
From the SEC filing...
On July 15, 2008, the Company closed a private offering and issued $115 million aggregate principal amount of 5.00% Convertible Senior Notes due 2015 (the “Notes”).
Holders may require the Company to repurchase all or a portion of their notes on July 15, 2013 for cash at a price equal to 100% of the principal amount of the notes to be purchased, plus accrued and unpaid interest, if any, up to, but excluding, the repurchase date.
===================
AOB competitor also think that AOB has decent products though they didn't comment on the company valuation, also AXN competitor also think AXN seems to have a good product pipeline in the near future.
I've been a long term sharehoder and I'm adding more at this price (I'm just hoping they are not fraud :) )..
all right.. let's roll the dice..
Have a good 4th of July weekend everyone (and watch some fireworks)!
Stan
So what is your target?
Insider started selling a bit at $4. I sold some of my shares as well just to book some gain (I've been holding this stock for more than 6 years now)
Digi, How long do you plan to wait?
I will wait till the end of the year if there is nothing going on (no filing) and the stock is still at $0, I peobbaly book the loss to offset some of the gain that I have this year
Does GENX have any website? are they still selling anyting?
Stan
Net income of $7.1 million in the first quarter of 2010 or $0.18 per basic share, compared to $4.0 million or $0.09 per basic share in the year ago quarter;
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Metropolitan Health Networks, Inc. (NYSE AMEX:MDF), a leading provider of healthcare services in Florida, today announced the financial results for their first quarter ended March 31, 2010. Highlights include the following:
Net income of $7.1 million in the first quarter of 2010 or $0.18 per basic share, compared to $4.0 million or $0.09 per basic share in the year ago quarter;
Medical expense ratio of 81.7% compared to 87.9% in first quarter of 2009; and
Total outstanding shares of common stock reduced by 1.7 million shares since December 31, 2009 to 39.7 million at March 31, 2010.
First Quarter Financial Highlights:
The Company recognized revenue of $93.0 million for the first quarter of 2010 as compared to $90.4 million in the 2009 first quarter, a 2.9% increase. Medical expense, on a per customer per month basis, decreased 5.4% in the first quarter of 2010 as compared to the same period in 2009. The Company’s consolidated MER was 81.7% in the first quarter of 2010 compared to 87.9% in the same quarter of 2009.
Operating income was $11.2 million in 2010 first quarter compared to $6.4 million in 2009. Net income for the 2010 first quarter was $7.1 million or $0.18 per share basic and $0.17 diluted as compared to $4.0 million or $0.09 per basic share and $.08 diluted for the same quarter last year.
Customer Information:
Medicare Advantage customers increased to 35,400 at March 31, 2010 as compared to 34,900 customers at March 31, 2009, an increase of 500 members. Total customer months, the combined total customers for each month of the measurement period, increased by 1.1% to 106,700 in 2010, up from 105,500 in 2009.
Balance Sheet Highlights:
Cash, cash equivalents and short-term investments at March 31, 2010 totaled $30.3 million compared to $33.8 million at December 31, 2009. This reduction is primarily a result of the continued repurchase of our common stock and the increase in the amount due from Humana partially offset by our net income and the sale of short-term investments. During the quarter, we repurchased 1.7 million shares of our common stock for $3.9 million. Our net working capital increased to $33.4 million at March 31, 2010 from $27.7 million at December 31, 2009, an increase of $5.7 million or 20.6%.
Share Repurchase Program:
On February 24, 2010, the Company’s Board of Directors approved a 5 million share increase to its previously announced share repurchase program bringing the total number of shares of common stock authorized for repurchase under the program to 20 million shares. From the inception of the program through March 31, 2010 the Company has repurchased 13.7 million shares of its common stock, and options exercisable to purchase 684,200 shares of our common stock, at an average cost of $1.90 per share. Shares repurchased from January 1 through March 31, 2010 totaled approximately 1.7 million reducing total shares then outstanding to approximately 39.7 million. Approximately 5.6 million shares remain available for purchase under the plan. The number of shares to be repurchased and the timing of the purchases will be influenced by a number of factors, including the then prevailing market price of the common stock of the Company, other perceived opportunities that may become available to the Company, and regulatory requirements.
Michael Earley, Chairman and Chief Executive Officer of Metropolitan Health Networks, Inc., commented, “We are delighted with our first quarter results. 2010 is a year of transition and challenge for the Medicare Advantage industry as we face declining base premiums. A combination of strategies including improved medical management, continuing focus on revenue compliance, reduced plan benefits and the elimination of unprofitable plans resulted in a terrific start to the year. While one quarter doesn’t make a trend, and we don’t assume these outstanding results are a trend, it is clear that our efforts are positioning us for another good year, and convince us that our business model initiatives are further positioning us for continued success.”
Earley noted further, “While net membership grew slightly, we note that we and our industry faced dramatic uncertainty during the health care reform debate of the last 18 months. As we have often discussed, management’s decision to focus our resources and energy on improving our operations was clearly the right strategy for our company. We achieved record bottom line results in 2009, continuing through Q1 2010, but more importantly we made significant progress developing and implementing the Patient Centered Medical Home model of primary care and related initiatives. Investment in these efforts continue, of course, but we are already seeing tangible results today in terms of improved customer satisfaction, employee engagement, and medical and financial outcomes from these initiatives. With passage of the recent legislation, the paths and opportunities in the future are clearer, and we are better prepared to focus on growth. We believe that Medicare Advantage will continue as a viable and attractive health care alternative for the soon to boom senior population, and we believe that consumer-centric, coordinated care will best serve this market in terms of customer satisfaction, effective outcomes and efficiency.”
MDF has catch up with CNU in terms of valuation (I had both).. but I think in the long run it is still a good deal at $3..
Congrats all MDF longs!
Stan
RZ, how's the board position works for you. Do you learn anything interesting/insightful? was it a good experience in general? What do you like and what do you dislike about the potision?
The reason I'm asking is because I'm looking into it myself (on a different company)
Thanks in advance,
Stan
why bother being listed if they don't care to compelte the filing and let shareholder know what is going on..
I'm curious, in their opinion, who really own the company (shareholder or management)
I think we should just quit wasting our time..
I rarely see any company come back from the grave .. especially after non filing like this...
lesson learned though..
So what's the last word on this...
looks like this is just one of those typical china stock case (or pink sheet stock case)..
Dividend or Stock buy back or Acqusition?
Which one do you prefer and why? (and which one do you think MDF should do based on MDF situation and the nature of the business that they are in)
I'm really tempted to choose dividend (who doens't like cold hard cash :) ) but I want to see more stock buy back and possibly one or two acquisition in the next 2-3 years (small and profitable and not too much goodwill created) that makes sense (for example, CNU added sleep centers to their business and seems very successful and a good synergy, or buy more clinic that already serve most of their PSN or to get additonal members, do more vertical integration. though I understand that buying members can be very costly)
but yeah, no HMO business please.. just kidding.. the HMO (though not matter people might see it as a disaster), helps MDF to get where they are now (with a lot more PSN patient than before they have the HMO and have more economies of scale now). I guess things happen for a reason, is what I wanted to say..
Any thoughts for 2010 onwards for MDF?
And what the healthcare reform might impact them? (and what is the chance of this is happening). Especially after the new Massachussets senator isn't a big fan of the new health plan proposed by our President.
Stan
Congrats all MDF and Mike Earley believers!
What a great Q4 result (which usually are weak quarter) and 2009 result! I'm so proud of Mike Earley and Jose Guethon and team... working very efficient company... hope MDF (and all your employee) are proud of the 2009 achievement (and the journey from back starting in 2005-2006..
And finally our patience is paid off.. and I'm not even referring to the recent stock price increase.. but the net income increase...
hope the price stays below $3 for another year or two and let MDF completed their buy back program.. and at this current pace of the buy back, I wouldn't be surprised if MDF earning will be .40-.50 per share (20%-50% increase) within 2-3 years) .. though I think it will be closer to .40s than .50s though... still a great story..
I'm still long and strong... still don't see any reason to book any profit or swing trade this stock (though in the past it has always dropped again after a big rally like what we see recently). I guess if it dropped again, I just have to buy some more (though it might not be prudent since I already have a lot of MDF shares)..
Stan
PS: Thanks for the best wishes ghmm... I'm sort of hoping that they will institute dividend soon, but the other part of me wants them to continue buying back shares and probably see if there are other opportunity they can exppand (like CNU for example, they expand to sleep center and seems very successful, but yes, no HMO business please :) )
looks like the new model they are testing seems to work.. hope it will show similar resul on the roll out phase...
-----------------
Metropolitan Health Networks' Patient-Centered Medical Home Pilot Delivers Outstanding Results
Collaborative Program with Humana Proves Valuable Healthcare Model in Caring for Medicare Advantage Customers
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Metropolitan Health Networks, Inc. (NYSE AMEX:MDF), (“Metropolitan” or “Metcare”), a leading provider of healthcare services in Florida, today released the utilization, financial, and quality results from the first year of its Patient-Centered Medical Home (PCMH) pilot program that was sponsored by Humana. The 12-month analysis of outcomes revealed compelling results in all three categories.
The Pilot Program Overview
In August of 2008, Metcare and Humana agreed to collaborate on a pilot program to formally study the impact of the PCMH model in a Medicare Advantage (MA) capitated group, establishing specific utilization, financial, and quality metrics. The pilot began November 1, 2008 and concluded on October 31, 2009. Baseline measures were determined from medical claims for the period November 1, 2007 to October 31, 2008, and a matched control group was identified and tracked for similar measures. This group represented Medicare Advantage HMO customers seen by primary care physicians within the same markets under a capitated risk arrangement but in a traditional medical practice model.
The 12 month Results
Utilization:
Hospital days per 1000 customers dropped by 4.6 percent compared to an increase of 36 percent in the control group.
Hospital admissions per 1000 customers dropped by three percent, with readmissions running six percent below Medicare benchmarks.
Financial:
Emergency room expense rose by only 4.5% for the Metcare group compared to an increase of 17.4% for the control group.
Diagnostic imaging expense dropped 9.8 percent compared to an increase of 10.7 percent for the control group.
Pharmacy expense increases were limited to 6.5 percent versus a 14.5 percent increase for the control group.
Overall medical expense for the Metcare group rose by only 5.2 percent compared to 26.3 percent increase for the control group.
Quality:
Preventative breast and colorectal cancer screening was 13.3 percent and 6.3 percent higher respectively, compared to the control group.
Seasonal influenza vaccination rates increased nine percent to 64 percent, compared to the national average of 43 percent.
Average LDL cholesterol levels dropped by 1.8 percent, and customers with levels below 100 (a target level) rose by 4.0 percent.
Ninety-four percent of diabetic patients had an A1C level of less than nine percent.
Customer satisfaction results improved or stayed the same in 45 of 61 categories.
Commenting on the results, Michael Earley, Chief Executive Officer of Metropolitan Health Networks, Inc., stated, “In 2008, a strategic initiative was set into motion by Metropolitan to transform a number of our medical practices from a traditional medical practice model to a PCMH model. With the release of today’s exemplary study results, we could not be more pleased. This is just the beginning. Under the PCMH model, we are experiencing levels of quality never before achieved in our system while reducing expenses across our spectrum. PCMH empowers the primary care physician, a shrinking resource, with the right tools to take the leading role in their patients’ overall healthcare plan, allowing them to deliver better care and better outcomes. Under PCMH, we are delivering unprecedented and measurable healthcare reform and savings without cutting benefits. Working within our means and without government intervention, we think this is an idea whose time has come. It is the logical and practical future of healthcare delivery.”
The Process of Change
“The transformation began by performing a comprehensive practice evaluation, focusing on process, workflow, forms, and policies and procedures,” stated Jose Guethon, M.D., M.B.A., President and Chief Operating Officer of Metropolitan Health Networks, Inc. “Considerable time was devoted to staff education and training on customer service and engagement. This was necessary to emphasize and hardwire the principle of what we call patient-centeredness. Because the PCMH model is a team-approach to care, the culture and attitudes among the staff at the medical practice had to change. This also had financial implications for us. While Metropolitan’s revenues are a mix between fee-for-service and capitation, the primary reimbursement method is capitation, making us financially responsible for all medical services covered by any particular plan for the customers we serve. In order for us to improve both the quality of care and our financial outcomes, it was imperative that we learn to better manage chronic conditions in a cost-effective manner and strive to operate our practices as efficiently as possible.”
“With gradual and measured steps we implemented the change process throughout selected practices,” Dr. Guethon continued. “Ranging from continuous education and staff training, to adoption of health information technology such as practice management systems that include telephonic messaging, electronic prescribing, a disease registry, speech recognition software, and a document management system, we immersed our people in the process of change and gave them the path and tools to succeed and the results speak for themselves.”
The Future
Guethon commented further, “With the power of today’s modern healthcare technology, it gets even better. We are now in a position to implement a fully integrated electronic medical record solution that will have a very positive impact. By leveraging this technology to track and ensure compliance and empowering and engaging patients through such tools as EmmiSolutionsTM , an interactive video health education tool, and ClientIQTM, an on-demand customer satisfaction software solution, we expect that results from the pilot’s second year will be even more impressive. What is exciting is that we think we can take this further. Later this year, we intend to recruit additional PCMHs from among our affiliate network. Metropolitan will develop teams to help facilitate continuous transformation through education, training, and implementation. We intend to be industry leaders in sharing best-practices with respect to building a PCMH.”
About Metropolitan’s PCMH Program
Metropolitan’s primary care practices employ licensed healthcare providers such as family practice and internal medicine physicians, nurse practitioners, RNs, and LPNs. These community-based practices deliver care to over 9,000 of Metcare’s 35,500 total MA patients with a mean age of 72.4 years. The transformation continues into its third year. As a commitment to its program, Metropolitan applied for NCQA’s certification program and expects to be one of the first medical practices in the State of Florida to receive such certification.
The PCMH, as defined by the Patient Centered Primary Care Collaborative (www.pcpcc.net), is an approach to providing comprehensive primary care to adults, youth and children. The key components of a true PCMH include:
Access to care based on an ongoing relationship with a personal physician who is able to provide first contact, continuous and comprehensive care;
Care provided by a physician led team of individuals within the practice who collectively take responsibility for the ongoing needs of patients;
Care based on a whole person orientation in which the practice team takes responsibility for either providing care that encompasses all patient needs or arranges for the care to be done by other qualified professionals;
Care coordinated and/or integrated across all elements of the complex health care system and the patient’s community;
Care facilitated by the use of office practice systems such as registries, information technology, health information exchange and other systems to assure that patients get the indicated care when and where they need and want it in a culturally and linguistically appropriate manner.
For more information on Metropolitan’s PCMH efforts, visit www.metcare.com/patient-centered-medical-home.html.
About Metropolitan Health Networks, Inc.
Metropolitan Health Networks, Inc., with its group of Metcare of Florida primary care practices, is a growing healthcare organization that provides comprehensive healthcare services for Medicare Advantage members and other patients in Florida. To learn more about Metropolitan, please visit www.metcare.com.
What is forterus inc ticker and why do you like it?
Wow.. I missed that too.. that was interesting.. and I have to say I agree with nicusa managing partner point of view...
I stopped buying once they announced that Mike Early is stepping down.. I'm still holding and on a wait and see mode..
how about you...?
Stan
oops.. I missed the deadline...
I was busy and wan't feeling that well on friday..
first time I will miss it i guess.. I'll be back next time around..
maybe next time, those who are late can be defaulted to the same picks that they have picked on the previous PSL (and still manage to join the PSL)...
Have a great PSL 14 guys..
Stan
MDF is having a good day today...
I don't know if the new management going to change things in a big way. I hope they won't. cause things has been working so far (i.e. net income is steady especially post HMO).
buying back shares is ok I suppose at the right price ($2 and under), but they need to keep enough cash cushion where if they hit a bump for a year or two, they will not be forced to issue shares at $1 or below like they did a while back (I think it was at 60 cents or 30 cents if I'm not mistaken, for many million shares). Doesn't make sense to buy at $2 then issue later at $1 for example.
but all in all I agree with you, that they should keep things similar and change slowly and see what works and what doesn't without jeopardizing the long term health of the company.
Stan
ghmm.. sorry for the late reply...
I think the current management is good at managing the balance sheet which I really like. As to growing the company, I don't know for sure how good they are. I mean they are sort of successful with the HMO in a way that it ended up growing their PSN base, but the HMO not really turned out like they really hoped for, but I don't think it's entirely their fault, as HMO is a tough business and I think they salvaged as much as they can and turn the situation into a positive one for the long run.
I have no grasp yet on the new/upcoming management. But if there need to be a change, maybe promotion from inside might not be a bad idea. I also have no clue whether this is pressured change or Earley just decide that it's time for him to move on to something else. And FWIW, he was and is a turnaround specialist, and at this point I think MDF is fully turnaround now.
I still like MDF. IMO , having a strong balance sheet shows that they are careful with the valuable asset and equity that they have and that would somewhat translate to their other business (and growth) decision. With the experience of the people there for the last couple years (they had a big change in management a while back when Debbie Finnel left, but that's been a while), I think they will be able to contineu to grow.. maybe slowly.. but in a safer way too.. It wil be interesting to see how the medicare industry and regulation changes but we know that the number of people needed the care will be there (the baby boomers)
Hope this helps.
Stan
DOW 9999 - OIL 99 - Gold 999
Congrats Knowledge is King! (and apprently so..) :)
I thought I did pretty good this time (after finishing near the bottom several times lately), but with this great group, it become average.
At least I'm in the "All 6 unit positive" (as my consolation prize), together with KIK, ABH, Digi and North. ABH and Digi was my teamate back in the early days of PSL team competition, and North, was a fellow shareholder in GEXA where we almost make a killing there if FPL not bought them out so cheaply (but we do make good money there nonetheless)
Long story short, I feel lucky to have found this awesome group and be part of it (PSL and VMC)
KIK, you are an awesome investor (and market timer)!
Stan
thanks ghmm for the info and your thought..
i think we agree here that we have an undervalued stock..
and i also agree that they should continue to buyback stock.. probably untill it goes to $2.2 or $2.4 then slow down a bit as it seems to find it's way back to $2 everytime it goes to $2.5
ghmm... what do you think about MDF?
btw, I posted my response to your question..
JMHO