Value Microcaps Motherboard

[researcher59]

Wade: STV

I'm using management guidance and adding a little based on their huge backlog. Q1 is seasonally weak. Also my estimate is pre-tax. They don't pay taxes. In the 4th quarter they'll take a big 'tax credit' to offset what they've 'paid'. It's just accounting rules. They have 9.3 million shares o/s .... here's an excerpt from the last earnings PR ....

Commenting on the results, Joseph Harper, the Company's President said that both segments exceeded their budgeted operating profits for the first quarter, and the Construction Segment further increased its contract backlog during the quarter. Accordingly, he said, management believes that the Company will comfortably achieve its previously-issued guidance for fiscal 2005, first given on March 23, 2005, of consolidated revenues exceeding $200 million, consolidated EBITDA of at least $14 million and consolidated pre-tax income above $8 million.