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Non-Tech : GBUR(Wholesome&Hearty Gardenburgers)
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To: Robert Graber who wrote (117)12/10/1998 12:05:00 AM
From: Mad2  Read Replies (1) of 140
 
Careful Bob, the co is in violation of loan agreement. they are a manf bus and have been adding products like made. If bus slows significantly in winter (I don't fire up the Weber in winter) absorbtion in plant drops, inventories increase at a time when the company is looking for more capital to create demand and fund growth. Do yourself a favor go slow before you dump too much in too fast. Right now they have over $30 mil in debt in a business doing $100mil in sales anually. That's a fair piece of leverage. They show 14 mil in sales and promotion expense in 3rd qtr, but state 3mil is for advertizing. Where does the rest go (discounts to retail dist? Freight and warehousing)? 11 mil on 37 mil is a lot. If that can't be carved out of cost once the product is established they don't have a chance of making money. As it stands they may end up being overleveraged unless growth continues and becomes profitable in the next 3-6months (seasonally slow).
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