Alloy Steel Inc. (fka AYSI)

[Y B]

4 M sales value this past quarter ???

Questions and remark on value of the inventories :

COmpared with March 30,2008 the inventories increased with around 700.000 $.

Now these inventories : how is it valued ? At manufacturing cost or at sales price ?

If at manufacturing cost, the sales value is double I guess, given their high gross margins (50%). That would be 1.4 M $, combinded with the current sales, you end up with 4 M $ ... Would that be an explanation for the much lower sales ... ?

Anybody any knowledge how the inventories are valued ? Otherwise I will send email to CFO