Here are earnings out on ASXI this am which give the stock a PE of about 4 fully diluted:
Astrex, Inc. Files Its Form 10-KSB Reporting Record Year End Results For a Second Consecutive Year
PLAINVIEW, N.Y., June 29 /PRNewswire/ -- Astrex, Inc. (OTC: ASXI - news) has filed its Annual Report on Form 10-KSB for the fiscal year ended March 31, 2001 with the Security Exchange Commission reporting a continuation of the positive trend of the past several years and record breaking fiscal year end results for a second consecutive year. It should also be noted that net income and net sales as reported in the just filed Form 10-KSB are higher then the preliminary estimates provided in the Company's press release of April 20, 2001.
Net income for the fiscal year ended March 31, 2001 was approximately $835,000 (12 cents per share on a diluted basis) as compared to approximately $456,000 (8 cents per share on a diluted basis) for the previous fiscal year ended March 31, 2000. The improved performance was primarily attributable to an approximate $2.5 million increase in sales and to the recognition of a $200,000 deferred tax asset (NOL carryforwards) during the auditing process following the April press release.
Net sales for the fiscal year just ended March 31, 2001 were approximately $19.2 million as compared to approximately $16.7 million for the previous fiscal year ended March 31, 2000. Approximately $500,000 of this $2.5 million increase was due to continued improvement in export sales with the balance primarily the result of product expansion within existing lines. Net sales as reported in the just filed Form 10-KSB are approximately $200,000 higher then the preliminary April estimates due to an adjustment in accounting methodology.
As previously reported at April 1, 2001, the Company's total backlog of confirmed, unfilled orders was approximately $4,969,000 as compared to $4,018,000 at the same date in the previous year.
Selling, general and administrative expenses increased to approximately $3,631,000 for the fiscal year just ended as compared to approximately $3,156,000 for the previous fiscal year. This increase was primarily the result of salary, bonus, commission and employee benefit related expenses.
The Company's gross margins remained relatively constant at 23.3% for the fiscal year just ended as compared to 22.9% for the previous fiscal year.
With this filing Astrex, Inc. has reported its second consecutive record-breaking year since its early 1990's restructuring. The Company has now reported profits for five out of the past six years, with the exception primarily due to an investment write down unrelated to the Company's core business. |
