On July 23rd, KAB reported its second quarter
financial results, which, at $0.10 per share, were
a penny higher than expected. A Flash Report is
available on The Napeague Letter's web site, at
napeague.com and the in-depth Analysis
will be updated as soon as I have an opportunity to
review the 10-Q Report for the quarter.
On August 12th, KAB announced a program under which
"certain of its directors, officers, and key
employees have elected to defer $1.3 million of
their compensation over the next three years in
order to increase their investment in the Company."
Kaneb Services provides specialized industrial
services to a wide range of industries, including
petroleum refineries, chemical plants, offshore
energy production platforms, steel mills, power
generation and other process industries in more
than 20 countries, and also manages and operates a
network of petroleum pipelines and terminals,
making it the third largest independent liquids
terminaling operation in the United States.
An updated Summary and in-depth Analysis of KAB can
be found on the Napeague web site at
napeague.com. I encourage you to read
the entire Analysis as well as the Company's
investor relations information and its reports to
the Securities & Exchange Commission prior to
making any decision to invest in this or any other
Company.
Bob Davis
The Napeague Letter
napeague.com
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