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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Chisholm who wrote (8812)	10/29/1999 11:29:00 PM
From: Q.	Respond to of 78702

among the net-nets, SPOR might be interesting. It is profitable, with positive cashflow from operations. SPOR is a golf-clothing designer. The stock has fallen, probably due to declining revenues and margins, so you wouldn't want to buy it for growth, but ... the balance sheet really is strong. It is selling at 59% of net-net. The only item on the balance sheet that might be questionable is inventory -- they did write off $1 M of inventory in the last FY. If you were really radical and assumed that all the remaining $13 M inventory was worthless, the stock would still be only 1.2 X net-net. The co. has done some share buy-backs, and there was insider buying after the stock fell last spring. I haven't done enough DD on SPOR yet, but my quick glance at the 10k says it might be worth a longer look.