Alloy Steel Inc. (fka AYSI)

[MikeDDKing]

One thing to keep in mind, however, is that the backlog is probably for the FMG order of $1.8M. IMO you can't add the FMG order and the inventory as that likely is double counting. It is nice that they probably have shipped the FMG order but it doesn't tell us what the orders are for the rest of the quarter. Still, it does help to understand the lower revenue in Q3. AYSI is virtually guaranteed to have improved revenue in fiscal Q4 over fiscal Q3. They have a number of other nice things going for them as well (new mill, new product, etc.).

Mike