Alloy Steel Inc. (fka AYSI)

[Swick984]

It's hard to tell, but it could be a variety of things:

1. Mine build-outs at all the major mining companies as referenced in some of my prior posts.

2. Expanded distribution in the US and North America with Martin Engineering. A higher portion of revenue came from the Americas. Actually had positive operating income in the U.S., where they have a nice NOL to shield any taxes for some time.

3. Less concentration amongst customers - top customer only 9% of revenue

4. Expanded service offerings, including wear billets and ceramics in addition to the laser and water-jet cutting services I mentioned a few weeks back.

It does appear as though Q1 should have another healthy sales level as finished goods inventories are at elevated levels and that typically signals solid sales in the next quarter.

Glad to see they are actively working to grow the business and that results are hitting record highs (at least in Australian dollars).

Sounds like there continues to be interest in the Indonesian land, but they need to sell it already...