Agreed on ESP. Q4 revenues kinda stunk. But the good news is they still earned .36/share in Q4 on those lower revenues. Way up from .11/share in the year ago Q4. Annual comps look great too. The 50% dividend boost a nice surprise. And they've got that huge backlog. Noticed this in the 10K-
"Currently, we expect a minimum of $39.5 million of orders comprising the June 30, 2023 backlog will be filled during the fiscal year ending June 30, 2024. This $39.5 million will be supplemented by shipments which may be made against orders received during the 2024 fiscal year."
That's a decent bump up from last year, when they were expecting $35M of their backlog to ship. So it sounds like more solid quarters on the way. Combined with their excellent balance sheet (around $6/share in cash & investments), I think the stock should trade higher from $15. But not like this one gonna set the world on fire.
Nice pop on ESP after the solid earnings report. Doing a little better than I expected, considering the poor Q4 revenues. I'm trimming some shares into the strength.
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