it is frustrationg to hold this stock especially in this hot market.
You are also right that they are not guaranteed to get $10+ million
of Sikorsky business a year. But it is very very likely that they
will and they have bids for another $50+ million of business that
are out. They will get some of that business and it will dramatically
change the financial picture.
Without the drain on earnings from the Sikorsky investment, the
company would be earning about 20 cents per share this year.
And they would make close to 50 cents on a cash flow basis.
The accounting is very conservative. The company depreciates
helicopters on the books, even though the resale value may actually
increase.
Look for 30-40 cents eps next year.
Short term I am not sure what will turn the thing around.
The Board of Directors includes Liam Dalton, a Wall Street figure.
It is always darkest just before dawn. |
