re NSEC....sskillz, and its not just a one quarter wonder. For the full fiscal year 2014, this great quarter follows a .72/share September quarter, and that follows a .77 June quarter, and a .40 March quarter
OK, there was a life insurance benefit in one of the other quarters as well. If you take out all the one timers for fy 2014 (life insurance benefit of $3.256 million, and the $441 investment loss in the fourth quarter), NSEC made an adjusted $2.14 for the year (per my quick calculations). And the stock trades at $14/share?
Oh, and by the way, NSEC has $17.05/share in net tangible assets. Kinda head scratchin' cheap.
Now, I understand that the seasonally weaker March quarter is next...but jeeze, one time weather events shouldn't matter much given the Book Value and huge Earnings Power.
best.
