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So, 3rd Q...

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OldPro   Saturday, 11/04/06 08:42:35 AM
Re: OldPro post# 11
Post # of 58 
So, 3rd Q...

has this going for it:

1. "positive trending in both top and bottom line results...".

2. "strong order book for the third quarter..."

3. "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", "We expect continuing revenue growth in the last half of the year and increased net income."

4. 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.

5. On July 31, 2006, redundant land located in Texas was sold for net proceeds of approximately $1 million.

Both transactions (4 & 5) are expected to be recorded in the third quarter of 2006 and proceeds of approximately $4 million applied to reduce indebtedness.

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