Earnings on 11/13 going to be interesting...
to say the least. Lots of stocks taking hits if miss either eps, revenue or don't have robust outlooks. Have to go 3 for 3.
With tax refund and boost from sale should at least have impressive eps. Even minus one time gains expecting good numbers.
The following from 2nd Q earnings release indicates good 3rd Q - will be holding into earnings mostly based on below:
"Our second quarter performance again met our internal targets with positive trending in both top and bottom line results. The Company invested in working capital in the quarter largely due to increased inventory levels to support a strong order book for the third quarter and due to the effect of certain component shortages delaying planned production at the end of the second quarter", stated Jane Todd, Senior Vice President and Chief Financial Officer.
"The Company again affirms annual guidance provided at the beginning of the year indicating that 2006 is expected to be a year of growth in both revenues and earnings", stated John Caldwell. "We expect continuing revenue growth in the last half of the year and increased net income."
On July 21, 2006, the Company was notified of the approval of a US income tax refund of $2.7 million plus interest relating primarily to fiscal years 1999 and 2000. It is anticipated that the refund will be received in the third quarter of 2006. Separately, on July 31, 2006, redundant land located in Texas was sold for net proceeds of approximately $1 million. Both transactions are expected to be recorded in the third quarter of 2006 and proceeds of approximately $4 million applied to reduce indebtedness.
