In my TransNet Analysis published in The Napeague Letter on
January 10th, I projected that the second quarter results would show
revenues of $19.2 million and net income of $316,000, or $.06 per
share. On February 4th, the Company released its second quarter
results, which exceeded my projections. Revenues came in at $19.5
million and net income was $340,000 or $.07 per share
I have to admit that I am surprised at the subsequent performance of
the stock, which has declined consistently since the announcement,
although on relatively low volume. I especially found Friday's
trading to be quite interesting. Although the stock had been
reasonably strong earlier in the day, around 2:30 a single transaction
of about 10,000 shares momentarily pushed the price down below
$2.50. However, as soon as that transaction was cleaned up, the
price rebounded to $2.75. Unfortunately, I was not monitoring the
market at that point, so was unable to add to my position at those
prices. If this continues next week, I will be buying TRNT
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