I am surprised at the lack of interest here. ADDL has been one of the better storm plays over the last two years. Last year it went to 1.95 on no storms and they are, IMO, in a better position to capture a good share of the storm business than ever before. I got in this morning after reading their 10 big accomplishments list on their PR from April 2.
What other hurricane play can match this?
Stan Genega, Aduddell's President and CEO said, "2006 was a year of aggressive growth and positioning for Aduddell Industries. A few of our accomplishments for last year were:
Increased our corporate governance capability and effectiveness at the corporate level by hiring a C.E.O., C.F.O, Senior V.P. of Corporate Development, V.P. of Sales, V.P. of National Accounts and a V.P. of Human Resources, and a Corporate Controller.
Expanded our national accounts program and were awarded contracts with U.S Communities, Anheuser Busch, Quaker Oats, PepsiCo and 3M. The U.S. Communities account is a sole source award to our Roofing subsidiary and is estimated by U.S. Communities, based on their experience with past vendors, to exceed one hundred million dollars in revenue annually within three years.
Added another independent director to our board.
Purchased and integrated three new companies, with two more targeted in 2007.
Established two new operating units, one in Stuart Florida and the other in Minneapolis Minnesota and a corporate headquarters in Oklahoma City.
Established an exceptional marketing department and launched a comprehensive market and brand awareness campaign.
Increased our sales backlog from $2 million at December 31, 2005 to over $23 million at December 31, 2006.
Grew our Roofing business organically, by over 46% and increased revenue by over $6 million from our new Restoration subsidiary.
Opened a Metals division within our Roofing subsidiary as part of our expansion of product offering to encompass the total exterior envelope of the building.
Created our Enviro and Emergency Management subsidiary (E2MS), hired a President, and secured a number of pre event emergency response contracts in preparation for the next disaster. We have responded very effectively and profitably over the last fifteen years to disaster, but with our pre event contracts in place should achieve even greater results.
These ten accomplishments, which were part of our 2006 organic and external growth program, required a 2006 cash investment in excess of $7 million dollars. Even though they negatively impacted our earnings in 2006 we expect to begin realizing their potential return in 2007 and beyond. As we have communicated previously to the investment community, we have been developing a corporate infrastructure that we believe will support a base of $100 million in annual revenues. In order to facilitate that anticipated growth, we have put in place the corporate management, manpower, administrative support as well as operational facilities and equipment necessary to accommodate that growth. We believe that we now have in place the infrastructure to support our expected revenue growth in the coming years. At the same time, we believe we have been delivering on our promise of growing and diversifying our revenues."
"It is the intention of Aduddell Industries to continue our strong growth pattern. With the changes we have made in 2007 and with our focus on integration, operational efficiency and cost saving synergies, we believe that we are well on our way to accomplishing this goal profitably and building shareholder value for our stockholders."
