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

To: Paul Senior who wrote (15336)	8/26/2002 10:36:13 PM
From: David	Respond to of 79047

Funny you should ask. I sold just before they announced their proposed liquidation. I came across them again recently and saw they were trading between $7 to $8 per share and began looking at the financials. As of May, 2002 they had $90 million cash and short term investments. Total debt $9 million. FIT caps out at $41million on today's price per yahoo. Looks like its trading roughly 51percent to cash assets not including inventory or receivables (totaling a combined $18 million), "On March 1, 2002, Fab Industries, Inc. announced its Board of Directors' approval of a plan to pursue a sale of its business in the context of a corporate liquidation." (per 8k). The currently pay a 5% dividend. I thought I read somewhere that they paid a special dividend but their balance sheet looks almost the same for December 2001 and May 2002. Seems like this could be a nice special situation.

To: Paul Senior who wrote (15336)	8/26/2002 10:42:33 PM
From: David	Respond to of 79047

Funny you should ask. I sold just before they announced their proposed liquidation (missed out on a point or two). I came across them again recently and saw they were trading between $7 to $8 per share and began looking at the financials. I assume that they paid out the initial $10 per share liquidating dividend to shareholders. A rough estimate seems $40 million cash and short term investments. Total debt $9 million. FIT caps out at $41million on today's price per yahoo. Looks like its trading roughly at cash assets not including inventory or receivables (totaling a combined $18 million). "On March 1, 2002, Fab Industries, Inc. announced its Board of Directors' approval of a plan to pursue a sale of its business in the context of a corporate liquidation." (per 8k). This is from June 1, 2002: " On May 30, 2002, the Company filed a report on Form 8-K announcing that at its Annual Meeting of Stockholders its stockholders approved a sale of the Company's business pursuant to the Plan of Liquidation and Dissolution and that its Board of Directors declared an initial liquidating distribution of $10.00 per share." From 8-K: "The Company's Board of Directors met immediately after the annual meeting and declared an initial liquidating distribution of $10.00 per share, to be payable on June 24, 2002 with a record date of June 10th. " Looks like they already distributed $52 million on June 24, 2002.