Is this really about a 35 day buyback ? I dont ever recall seeing one of such short duration.
As for the CEOs buy. I tend to dismiss brand new CEOs taking an initial position. Oftentimes it is included in or part of employement contracts.
(Like maybe a $500,000 signing bonus if he spends it on stock or a higher salary to pay him for buying it)
I would like to see some of the other VPs and directors step up before I would be interested.
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Pursuant to the 10b5-1 Plan, the Company may repurchase up to $15 million worth of shares of the Company's common stock during the period commencing on September 26, 2005 and expiring on October 31, 2005, subject to conditions specified in the 10b5-1 Plan and unless earlier terminated
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In other news...
I bought some BAMME back at $7.56. Had sold at $9.99. Its back to $9.00 already.
Took an initial position in MEAD based on Paul Sonkins buying and the fact that its trading at or near net current assets.
Sonkin wrote the book on value investing and he followed me into STRZ. I also followed him into WSZZ.
Im disapointed in SPOR and myself for my poor trading of the situation.
MHCO is also a little weak but I still feel good about the longer term there.
Wanted to mention EDIN.PK for any of you willing to delve into a cheap pinksheeter trading below book that is profitable. I feel sure it will be bought out in the next few years and I hope/expect them to start reporting quarterly which could garner more interest. (Their detailed financials are available at pinksheets.com under "financial reports".
Educational Insights Reports 2004 Year-End Results
Rancho Dominguez, CA - May 5, 2005 - Educational Insights, Inc. (OTC Pink Sheets: EDIN) announced today that revenue was $25,631,000 for the fiscal year ended December 31, 2004, an increase of 20.9% or $4,433,000 compared to $21,198,000 for the prior fiscal year. The primary reason for the increase was growth in its core school market which has been the focus of the Company's strategic efforts for the past four years.
The Company reported an operating profit of $972,000 for the fiscal year ended December 31, 2004 and a net loss of $52,000 or $0.00 per share - diluted for the year as compared to an operating loss of $658,000 and a net loss of $597,000 or $0.05 per share - diluted in 2003. The net loss in 2004 was due to a $1 million charge to write-down the carrying value of its option to purchase The Amazing Live Sea-Monkeys(R) intellectual property. The resulting pre-tax loss was partially offset by a tax benefit of approximately $540,000 that was recorded during the fourth quarter to increase the Company's deferred tax assets to their estimated realizable value.
Gross profit as a percentage of sales increased to 46.1% in fiscal year 2004 from 44.6% in 2003. The increase in the gross profit margin percentage is principally due to proportionally higher sales to the school market in 2004 as compared to 2003. Gross margins of products sold in the school market are typically higher than those experienced in the Company's specialty retail and mass markets.
Total operating expenses increased $724,000 to $10,836,000 for the fiscal year ended December 31, 2004, compared to $10,112,000 for the prior fiscal year. This increase was primarily a result of increased expenses in the sales and marketing department stemming from the aforementioned increase in revenue.
Reid Calcott, the Company's President and CEO, stated that he believes that the Company's operating profit of $972,000, which is an improvement of $1,630,000 over the operating loss of $658,000 incurred in 2003, demonstrates that the Company's turn around strategy is producing the desired results. He further stated, "Revenues are up in our core markets and margins are improving overall. We are gradually returning to the Company's historical business model which provides for both continued growth and profitability."
He added, "The Company's top priority in 2005 is to solidify our position of leadership in the supplemental educational materials and educational toys and game businesses in order to increase shareholder value and strengthen our ability to take advantage of opportunities that may arise in the near future."
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Educational Insights Affirms Continuation of Strategic Focus
Rancho Dominguez, CA - January 14, 2005 - Educational Insights, Inc. (OTC Pink Sheets: EDIN), in response to inquiries made by several of the Company's shareholders, announced today that it is not currently engaged in any active discussions concerning the possible sale or merger of the Company. Reid Calcott, the Company's President and CEO, reported that from time to time during the past two years the Company has had discussions with potential investors in its effort to increase shareholder value. He said that although the Company has, over the past few years, had preliminary discussions regarding possible transactions, no such discussions resulted in what the Board of Directors believed to be fair and viable offers.
Mr. Calcott went on to explain that he believes that, in the near future, the Company's best strategy for increasing shareholder value is to continue its current strategy of emphasizing its core education products as this strategy is producing positive results.
Mr. Calcott stated, "Revenue for 2004 was up approximately 20% over 2003, making this year the second consecutive year in which the Company's turnaround strategy has produced an increase in domestic sales volume. In addition, the Company expects to report an operating profit for the first time in five years." The Company's formal report on its results of operations for 2004 is expected to be released at end of the first quarter.
He added that the Company has renewed its license to market Classroom Jeopardy!? for another five years. Classroom Jeopardy! permits teachers to present material in the entertaining Jeopardy! format and makes classroom presentations more interesting for both teachers and students. The Classroom Jeopardy! product has been enthusiastically received by teachers throughout the country and positive sales momentum is expected to continue.
Mr. Calcott stated, "All things considered, I believe the Company's turnaround can now be considered a success. I expect both revenue and earnings to improve in 2005 which I believe will ultimately increase shareholder value."
He further stated, "Although we will, of course, continue seeking ways to increase shareholder liquidity, our priorities in the near term are to increase profitability and to finalize the Company's return to a position of leadership in the supplemental educational materials and educational toys and game businesses."
Educational Insights, Inc. designs, develops and markets a variety of educational products, including electronic learning aids, electronic games, activity books, science and nature products, board games and other materials for use in both schools and homes. The Company's product lines, including its popular GeoSafari? branded products, its classroom version of Jeopardy!? , and The Amazing Live Sea-Monkeys? product line, appeal to children as well as students ranging mainly from pre-kindergarten to eighth grade and is designed to make learning fun. |
