| I suppose you can draw some interesting conclusions from the report, a few with a positive spin when compared to the same qtr. last year. Personally I haven't bitten on this yet, although I think it has some potential, given more time. So for me, it's a stock on watch and will likely remain so for at least another qtr. The real value probably lies in buying it down here, but I decided to wait a bit. In short I'm a chicken. Stockholder's equity decreased this last quarter by about 130 million, so from my perspective there was a little balance sheet deterioration. Not including the intangibles it decreased from 1,488,711 to 1,358,928. That's still a tidy some on a per share basis, and yet the bulk of decline was due to less inventory owned, which is probably a good thing. Orders were up as opposed to a year ago, and this is a very good company with good management from what I know about them. I think they will come out of this OK and it appears they are really focusing on strategic regional markets now. My problem with an investment here just now is that the macroeconomics of the entire industry will take a good while to improve. The stock appears to have discounted the worst already, but I think its gonna be a long wait for real positives to surface. |
