Curlews, DAAT is the victim of rounding off in Q1. The eps gain looks flat, but they actually did pretty well in the quarter (which is one of their weaker ones seasonally).
They continue to struggle with pretax margin improvement, but sales and net both up 20%+ is a solid result.
Some catalysts to come:
"The Company continues to develop new products, as well as expanding its direct import and private label programs. A new game processing kit and gun carrying case with built-in cleaning kit are expected to be on the market in the next few months. The Company has also reached an agreement with Kmart to put its GunMaster cleaning kits into approximately 1,100 stores."
Its amazing how well those gun cleaning sets are still selling; up 37% y/y vs Q1 05. They'll now be sold in Kmart as well, starting next quarter I presume.
The details of the Laseter sale/company purchase of stock were also disclosed:
" Dan Lasater and members of his family, affiliates of the Company executed a stock purchase agreement as of May 4, 2006, where by Mr. Lasater and family have sold their combined 679,065 common shares ownership in the Company to several individual investors for a gross sales price of $1,174,782.45 or $1.73 per share. Of such number, the Company purchased 57,065 shares for $99,933.95.
Not much of a stock buyback (~1% of fds); but at least the constant selling by Lasater is now gone, hopefully replaced by stronger owners. The company used cash to buy back the shares, and got nearly a 20% discount to market price.
AI
