Hancock Fabrics Inc. (HKF)

[rattlewatch]

You might be wrong again,lol and may want to get back in.just kidding. Check out this 8-k of monthly unaudited financials as required due to bankruptcy.

March 21, 2007 - May 5 ,2007 approx 8 weeks, $65.8M in revenue totaling 9 million in operating income and 3.056 in net incomeThey are turning this ship around in a hurry,and it should be easy to do when on pace for A half Billion in revenue.

In 06 net income was -$30M,however +20M net income would be recognized if the rate in the 8K remains the same.They had 17M in net income in 04 and traded @$15 pps.

http://www.sec.gov/Archives/edgar/data/812906/000100579407000260/hancock8k053007ex992.htm

The reason i found this company was due to recent insider buying.Over 1.08M shares bought since 5/12/07 and only 18M Outstanding.Notice the May 5 report date and the buying starting a week later, before the release of the 8K.The last time an insider purchased shares,with his own money, was Dec 05.

http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000812906&owner=include&c...


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