I've been buying some GLGI this week. Surprised someone would be selling in the .20's after such an impressive quarter. Fiscal Q3 fully taxed earnings of .027/share vs. a loss last year. Q3 revenues up 65%. Not sure if the gross margin improvement is sustainable, but sounds like it could be. From the earnings PR:
"I am pleased to report that the implementation of previous discussed operating efficiencies, cost containment strategies and extra production capacity produced significantly improved gross profit margins on record sales for Greystone's third quarter," stated CEO Warren Kruger.
Q3 may have marked an important turnaround for GLGI. IF they can sustain those margins, the stock should be trading closer to $1. The CEO also gave a positive outlook for their seasonally strong Q4:
Kruger continued, "The increased production throughput helped lower fixed costs allocation per pallet produced thus driving increased margins on greater sales volume. The fourth quarter of our corporate year has historically been strong and with our backlog I look for that trend to hold. We will continue to invest in equipment and facilities to drive growth and shareholder value."
Q4 could be a monster with higher revenues & higher margins. Stock could double from here and still be very undervalued imo. Probably why the CEO continues to buy, adding another 50K shares this week:
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