Salton/Maxim housewares is a fast growing maker of a variety of home products under numerous brand names. They've been aggressively obtaining rights to manufacture products under well known brand names to large retailers. For example, they recently signed an agreement to market products under the Farberware brand, and signed a huge deal with Kmart to supply a broad range of consumer electronics products.
SALT just announced tremendous earnings: 100% sales growth and 67% income growth over last year. The outlook for the future is excellent, as stated by the CEO in their press release: "We anticipate continued strong financial growth in the coming quarters, particularly in light of the agreement we reached with Kmart..."
At current prices of about $8, the trailing P/E is about 12. The forward P/E is around 6, even if earnings stay flat. Institutional holders include the Soros Fund Management Co.
The fundamentals are strong, and technical analysis indicates that now is the time to buy. Look for SALT to take off... |
