Could be. This isn't a conglomerate with relatively smooth, predicable earnings though. It's a small company that will probably have lumpy earnings until it broadens its client base. Incidentally, for those who are interested, I wrote a post on my site recapping the Alloy Steel situation: <a href="http://thehackensack.blogspot.com/2008/08/recapping-alloy-steel-situation.html" target="_blank">http://thehackensack.blogspot.com/2008/08/recapping-alloy-steel-situation.html</a> Check it out and see what you think. One other thing: due to the price drop last week, Alloy Steel is now on the Magic Formula top-100 list.