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Strategies & Market Trends : YEEHAW CANDIDATES
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To: Sergio H who wrote (7742)5/11/2005 10:28:49 AM
From: Ken W  Read Replies (1) of 23958
 
Sergio

Possible reason for UPFT weakness:

"The quarter's earnings were impacted by two developments. The first was the settlement of an insurance claim associated with Hurricane Charley, which benefited our bottom line. However, these gains were more than offset by phase-in costs of newly launched automotive programs, which we continue to absorb," said Bailly. "The net result decreased our profitability for the quarter. We expect to reduce these automotive costs as we ramp up program volumes and gain efficiencies in our manufacturing processes."

Also, to my way of thinking, How is it that only 85k hit the net profit out of 18mm in sales. If you back out the insurance gain then even less of the 18mm went to profit. That's an awful lot of costs to "ramp up" anything!!!

Ken
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