Wallace Rivers: Recalling a favorite cartoon: A guy in his office, sitting at his office desk, elbows on table, talking into a phone. Caption reads, "Well, maybe it has been five years, but the point is, I am returning your call."
:>)
Well one year anyway for me, re your: "What does everyone think of Saucony now that it has pulled back some?"
I started a position again today. It's not the good net-net it was in the old days, (NCA are about 9.4 I figure, vs. stock price a bit over 8), so it might not tempt Jim Clarke et. al. again, but the company is profitable - more so than in our earlier forays into it. From their Nov 1 press release: "The Company expects fully diluted earnings per share to be in line with the average of the analysts' estimates of $.32 for the quarter and $1.89 for the year", and "(For the)full Year 2001 (comparison excludes the effect of the charge taken on the cycling division divestiture), the Company estimates fully diluted earnings per share in the range of $2.17 to $2.28, representing growth of 15% to 20% over the prior year."
I'm glad they got rid of their cycling business that they had bought only a short time before. I figured the buy would be a diworseification: that they were wrong to assume it'd be a fit or that they could manage two disparate businesses to get synergies from cycling stuff & running stuff tied into the retail athletic market. These shoemakers ought to have known better-- Had they never heard of "Shoemaker, stick to your lasts"?? -g- (Aside, I figure that you know, but others may not, that the saying is Buffettologistic for stay within your circle of competence.)
I chose, SCNYB over the A only because that's what I had before. -g-
aside: Still holding MAXS
Paul Senior |
