AMEX LOW FLOAT EARNINGS SUPERMONSTER
IAX Low float Earnings alert $5.20 should earn $.15 this quarter
IAX:AMEX ($5.20) skyrocketed to nearly $7 in the summer when it reported $.10 EPS in its SLOWEST seasonal quarter with a Plant Shutdown! This quarter will benefit from higher seasonal sales and the plant coming back on line.. Therefore it is VERY plausible that IAX wll earn $.15 this quarter (report by Mid September). This implies a $.60 EPS run rate for a sector with a 19 PE- do the math IAX looks like a lock for a 50% minimum gain from here. IAX has a tightly held 5 MM float.
International Absorbents Announces First Quarter Results
Wednesday June 13, 5:03 pm ET
FERNDALE, Wash., June 13
Net income for the first quarter grew by more than three times to $623,000, or $0.10 per share, versus $142,000, or $0.02 per share, for the first quarter in the prior fiscal year.
Gross profit for the first quarter increased by 35% to $2,767,000, compared to $2,055,000 for the comparable quarter in the previous fiscal year.
"We are pleased with these results for our first quarter, especially when we consider that during the same period we completed the move of our Bellingham, Washington plant to our new Ferndale, Washington facility, which required us to temporarily shut down west coast production," commented Douglas Ellis, President of Absorption Corp, the Company's wholly-owned subsidiary. "Pulling this off took a tremendous effort from the whole team. Our Georgia facility ramped up to a round-the-clock, 7-day operation in order to compensate for shutting down the Washington plant. Logistics, planning, sales, marketing and customer service all did a great job of coordinating with customers to ensure everyone's needs were met at a time when we had near record sales and limited production capabilities. It was an outstanding effort all around."
"Traditionally our first quarter is the slowest quarter of the year, so we were happy with the strong sales.And, our team's ability to satisfy customer needs while shutting down our west Coast plant is a tribute to their dedication and abilities," commented Gordon L. Ellis, Chairman of International Absorbents Inc. "With this final stage of our three-stage infrastructure build-out nearing completion we anticipate continued sales growth backed by improved production capabilities and efficiencies."
AI
