Chris. Know what you mean.(g)
Only other time the folks joined one of my bargain hunting sprees was around the 86' crude crash lows in the patch. Bot just bout everything in sight and really range the register 87'. Sold a few months early. But, in retrospect, can't complain about that(g). (86' was my 1st full year as a pro on my own)
Looks like you really like the lg caps. Right now, RTN.B and NTAP are my only lg caps and not full positions.
I've made my best money in mid and sm caps. Don't mind the spreads and patience needed to build block positions. Have found, as I've become better at stock selection, those handicaps are far outweighed by the very large %age gains. Since 1st half 99' have had 3 hat tricks with very little trading. Most just let PTEN, MVK and CRZO run for Intermediate holding periods. quite a few others gave me 70 to 100%+ gains.
Today, just finished buying a little known Ohio based specialty metals outfit in titanium fabrication, symb RTI.
Taken awhile to build the position. Mostly a fundamental story so doubt the TA folks here would like it. TA also less reliable on low volume plays. But CRZO hardly traded at all when I first bot it. And in less than 12 months mid 99' to mid 2000 netted 228% in just 3 or 4 trades.
Anyway. As you probably know from reading my posts, I like the Defense stocks as a strong cyclical play. Last year ran RTN.B for over 50% in 6 mos in just 1 trade. In it again, though a smaller pos till the SEC thing looks closer to resolution. Have focused more on RTI instead. The Bush boyz defense report is due next month I believe and most combat aircraft use lots of titanium.
But the real wild card for this metal is the recent (little know outside the oil patch) and rapidly growing application of titanium for use in Deep Water sea floor oil and NG installations. Almost any experienced patch investor will tell you how important Deep Water explor and prod growth is becoming. It's really THE key frontier for supplying our oil needs in the years immediately ahead.
Till recently, there were serious and recurring failure problems with seals and other components in sea floor production units. Very large and high volume oil production was being interrupted as considerable cost to the major oil companies. After trying a large variety of materials, composits and metals, it was found that titanium components had the needed durability. RTI's newest div offers a variety of proprietary titanium fab products for O&G operators and rev are growing very rapidly. Here's their most recent qtrly report.
Best regards,
Iso
siliconinvestor.com
"RTI International Announces First Quarter Results
NILES, Ohio, Apr 23, 2001 (BUSINESS WIRE) -- RTI International Metals, Inc., (NYSE: RTI chart, msgs) released results today for the first quarter 2001.
RTI reported first quarter net income of $3.9 million, or $0.19 per share, on sales of $66.2 million. The results for the comparable 2000 period were a net income of $1.6 million, or $0.08 per share, on sales of $70.5 million.
Included in the first quarter results was an expected $0.18 per share in liquidated damages from the Boeing Company related to a shortfall during 2000 in guaranteed order levels under a long-term contract.
First quarter results, excluding the Boeing payment, reflect a slight improvement over the fourth quarter of 2000. Mill product shipments of 2.4 million pounds represent an increase of 22% over the previous quarter, owing largely to increased billet shipments. Realized prices for mill products averaged $14.97 per pound, a 5% improvement, despite the addition of lower value product. However, due to the unfavorable mix, the Titanium Group had a $0.3 million operating loss on sales of $30.1 million.
Operating results improved in all units of the Fabrication and Distribution Group, where sales increased 42% compared to the fourth quarter. The Group earned operating income of $1.1 million on sales of $36.1 million.
Timothy G. Rupert, President & CEO, said, "We achieved our goal of returning to profitability, as the effects of increased demand began to show at the end of the quarter. Our order backlog, which grew 27% in the fourth quarter, increased another 28% in this most recent period. Demand and pricing in the aerospace arena are improving, as is deepwater oil and gas activity in the Gulf of Mexico. Our distribution businesses, which don't sell from an order backlog, are experiencing higher than expected sales and profitability. Everything points to a much better second quarter and balance of the year."
This news release contains forward-looking statements that involve risks and uncertainties. These include but are not limited to the cyclical nature of the commercial aerospace industry, chemical processing, oil and gas industries, uncertain defense spending, and the competitive market for specialty metals. Other risks and uncertainties have previously been included in the Company's filings with the Securities and Exchange Commission, copies of which are available from the SEC or from RTI Investor Relations.
RTI International Metals, headquartered in Niles, Ohio, through its various subsidiaries, manufactures and distributes titanium and specialty metal mill products, and extruded shapes, as well as engineered systems for energy-related markets and environmental engineering services. The Company's products are used for aerospace, industrial, military, and consumer applications.
NOTE: RTI International Metals, Inc. has scheduled a conference call for Tuesday, April 24, 2001, at 1:30 p.m., Eastern Time, to discuss this press release. Timothy G. Rupert, President and CEO, John H. Odle, Executive Vice President, and Lawrence W. Jacobs, Vice President and CFO, will represent RTI. To participate in the call, please dial toll free 800-553-0349 a few minutes prior to the start time and specify the RTI International Metals, Conference Call. Replay of the call will be available until midnight, Eastern Time, on Friday, April 27, 2001, by dialing 800-475-6701, Access Code 583131." |
