Any opinions on ERS? Good growth, good earnings. Actually bigger than a VMC, but the V part appears right. Good value this morning. It's down 13% to 10.40 on no news this morning.
Excerpt from recent earnings release:
Empire Resources Announces Second Quarter Operating Results
By PR Newswire
Last Update: 8/9/2005 8:01:10 AM Data provided by
FORT LEE, N.J., Aug 09, 2005 /PRNewswire-FirstCall via COMTEX/ -- Empire Resources, Inc. (ERS), a distributor of value added, semi-finished aluminum products, today announced net income for the three and six months ended June 30, 2005 of $2,522,000 and $4,746,000 as compared to $1,064,000 and $2,199,000 for the same periods in 2004. Net income for the three and six months ended June 30, 2005 increased to $0.25 and $.48 per share on a fully diluted basis, as compared to $0.11 and $.22 per share on a fully diluted basis for the same period in 2004.
Net sales for the three and six months were $89,446,000 and $169,460,000 as compared to $51,605,000 and $105,790,000 for the same periods in 2004. Net sales increased 73% for the three-month period and 60% for the six-month period as compared to the prior year.
Empire Resources, Inc., is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia and New Zealand. It maintains supply contracts with aluminum mills in various parts of the world.
Paul Litman: "Avoid panic selling & avoid overconfident buying."
