Seneca Foods Corp (SENEA)

[SSKILLZ1]

No the real problem here is sales. Sales shouldn't have dropped Y/Y they should have rose y/y Earnings were fine considering the level of sales, the main problem was sales, which should have been higher. Sales were almost 10 million Lower then last year and remember this year even had an extra month of the signature food acquisition which makes it even worse. Have to see the 10q to get a real idea what happened here, but that looks kind of troublesome, Revenues in decline isn't a situation I want own when the had an acquisition in these number for and extra month this years and sales are still down. Yikes. Now from a balance sheet perspective it is cheap and trades under book so doubt there is tremendous downside here. But Upside seems limited at best, and downside seems possible hence I sold. Just my opinion and I could always be wrong though.