Bobcat,
You're too pessimistic!!! They do have a business, and I've
personally contracted them before. For all the time I've dealt
with them, they have had strong orders and have been in the
position of turning down work. All other companies in the
precision optics field (one of Axsys' subsectors) are going
gangbusters. Now, maybe they've made (and are making) bad
business decisions, but their core businesses are viable. Even
on a book value basis, the company is attractive to other (maybe
better managed) optics companies. The sector is consolidating
(for instance, consider Janos, SORL, Spectronics, and others).
The stock is at a low P/E, low P/B, and low P/S. The stock
action looks bad, but I cannot see the primary weakness in
the company's business model.
DOn |
