Oops, not a good day for GTI holders. This carbon electrode supplier to the steel industry was called UCAR International (sym: UCR) when it was discussed here.
I'm underwater on my yr. 2000 buys, but still in positive territory with my 10/2001 buys. Overall, losing now.
I'm considering adding. With steel booming, GTI's products have to be in demand. They say in their press release, "all of our graphite electrode manufacturing facilities, including Brazil, are currently running at capacity and we remain sold out." However, earnings disappointed, and for '04 they say, "We expect annual earnings, excluding restructuring charges, antitrust reserve adjustment and other expense, net, to be in the range of $0.55 - $0.65 per share."
I suspect at current price now ($11.40), that's still a bit high. Fwiw, GTI has a technical component that has a relationship to Ballard Power, so this stock could bloom if battery power vehicles grab investor attention again. They also have something to do with Sony laptops where GTI supplies a "thermal spreader product". Whatever that is. (Sounds like a manure spreader to me -g-)
If there's anybody here who'll look at this stock and like it at the current price, please let me know. I'd might consider adding. For now my idea is to just try to hold on to what I have for another year. |
