TAIT has been sliding the past few days. I thought it would drop on the disappointing Q1 revenues last week....but it stayed in the $3.60's. Now in the $3.20's. I picked up a few shares.
Probably no rush as they'll have some tough comps coming up. And Q2 in particular could be a weak quarter with the China lockdowns. Although TAIT just paid their first special dividend in many years...so it's hard to believe things are too bad. Plus there's not many low floaters with a great balance sheet and a 5.6% dividend yield.
TAIT had a surprisingly strong Q2. Earnings of .10/share vs .10/share last year. But the current Q2 included a $310K loss on investments...while the year ago Q2 had a PPP gain. Q2 revenues up a whopping 45%. If not for the loss in other income, TAIT would have reported Q2 earnings of nearly .15/share. And I'm guessing this low floater would be flying to the $5's or $6's in this hot market.
Doubt traders will figure this out but I snagged a few. Decent dividend yield of 4.3%. Being TAIT, will probably get the chance to accumulate around $4 & under. I'm not sure what's going on with the business either...why were Q1 revenues down sharply and Q2 revenues up sharply? Still confused on the tax situation too...are they gonna start paying taxes or not?
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