And now we will all enjoy the buyout (Company going Private) for a nice pile of money for our shares. Coming soon. oldmanbadman rdncoic
shaun noll, cfa
huge special dividend and 500% sequential increase in backlog are hugely positive and my new price target is $3+ per share based on big cash dividend and shareholder friendly action with >$1.2m in net income estimate for 2013. Stock has doubled since this writeup but fundamentals have improved even more than the stock price imo. Management has a fantastic track record and are exceptional operators so I am very happy to have my capital invested with these guys.
Post $4.2m dividend investors are paying ~$11m for a company that, by my estimates, will STILL have about $3m more capital than it needs, so we can strip that out for $8m for the core business that is likely to more than double net income to well over $1m in 2013 and >$30m in revenue. Stupid cheap at .25x revenue and 7x earnings depending on your estimates. Depending on how things go in 2013 it is not hard to see net income actually be >$2m which gives you 4x earnings for a very low to negative working capital generating low teens ROE (stripping out unnecessary cash) that is now growing revenue organically 20%+ and will more than double net income this year with a history of paying out big dividends. RIDICULOUS VALUE.
and in the mean time the company continues to burn cash to be publicly traded for no reason. That $300k+ a year in lost time and money can never be recovered so hopefully management uses this cash as equity in a management buyout. Even if management paid $4 per share for the stock they don’t already own they would STILL make a killing and if they leveraged up to the MAX on their undrawn revolver they would still have >3x interest coverage and they could immediately begin paying that down, so even at max leverage they would still be a very strong company.
disclosure: still long EVI
Recent EVI News
- EVI Industries Announces Participation at Sidoti March Small-Cap Virtual Conference • Business Wire • 02/21/2024 03:26:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/09/2024 01:48:41 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/09/2024 01:38:29 PM
- EVI Industries Reports Record Second Quarter Results • Business Wire • 02/09/2024 01:32:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/23/2024 03:01:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:16:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:15:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:15:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:15:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/14/2023 04:52:29 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 12/07/2023 09:33:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/21/2023 11:31:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2023 10:06:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2023 10:05:41 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 11/20/2023 09:55:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/20/2023 09:09:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/20/2023 09:09:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/16/2023 11:36:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/09/2023 09:29:49 PM
- EVI Industries Reports Record First Quarter Results • Business Wire • 11/09/2023 09:11:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/06/2023 09:44:04 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 10/27/2023 05:44:24 PM
- EVI Industries to Present at the Baird Global Industrial Conference • Business Wire • 10/18/2023 06:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/11/2023 09:14:14 PM
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