SPOR is trading around 61% of NCA.
March 2004 Quarterly Report shows:
Cash and cash equivalents $3,428,000
Marketable securities 851,000
Accounts receivable 5,122,000
Inventories 10,920,000
Other current assets 296,000
Income taxes receivable 120,000
Deferred taxes 332,000
Total current assets 21,069,000
Total Liabilities 2,631,000
Net Current Assets: 18,438,000
Market cap: $10,977,128 or 60% of NCA
There has been a large sell off lately. Maybe a bad quarterly report is forthcoming. Not sure when next quarterly is expected to be published.
I have been a holder since this company was first mentioned on this message board around September of 2000. Since them the company underwent an SEC investigation for understating earnings and a class action lawsuit. When I made my purchases the company sales were declining rapidly.
Over the years that I've held on I believe sales stabilized (I will re-check this). Operations have not improved greatly, but the company seems to put out a good product which I have seen displayed at pro shops in airports occasionally.
The balance sheet appears to remain strong, although somewhat deteriorating over the past three plus years.
Might be priced at cigar but levels now.
Anyone else care to comment? |
