I've been in and out of corcom since it was 3 1/4. Small company
with tight float, big spread. Had slow revenue growth due to
transition from heavy reliance on gov't. business. Earnings and
margins were improving even as revenue was slowing, then gradually
improving, also. Mexican plant greatly affects qtr by qtr results (peso).
Cash exceeds all liabilities. They have 25% of U.S. market, equal to
3 biggest competitors, combined. Big player overseas, also. Fidelity
Small Cap owns a big chunk, 10% or so, I believe. Some insider
selling as price increased this summer, seems to have stopped after
correction. Went to annual meeting in May. Very short. No comment
on having hired investment banker to "explore" options, but backlog
was very strong in all areas.
I would like to hear any other opinions on this, including today's
strength (note volume).
Dwight
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