Technology Flavors (TFFI) develops, manufactures and markets flavors, fragrances and seasonings for use in natural and artificial flavored beverages, confections, foods, tobaccos, perfumes, pharmaceuticals and health and beauty products. Their line includes over 1200 brand name products. Clients include Clearly Canadian, Coke, and Neutrogina.
As of 1/7/99 - some stats (from Yahoo Finance).
52 week range $.375 - $2
Recent price $.65
Book Value $.29
Shares Out 12.4 million
Float 5.7 million
Net sales for the nine months ending 9/30/98 fell 33% to $10.5 million. Results reflected a decrease in demand and $2 million in write downs and charges.
I think the key here is the sale of a dead weight seasonings division in 11/98 (see news) resulting in a significant decrease in interest expense. The removal of this drag could result in fair results in 99.
This could be a decent turnaround play in 99. For a penny, TFFI already has some real revenues to work with and some big name clients.
If anyone has any information, opinion, or experience with this company - good or bad - please share it on this thread.
Thanks in advance |
