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

To: Paul Senior who wrote (19470)	7/22/2004 4:21:36 PM
From: - with a K	Respond to of 78519

Paul, I sold my KTEC a while back, as reported here, and haven't followed it since. My main concern was the extreme lack of volume and interest, and I see their business is still soft, except for the aftermarket space. I imagine they are concerned about the shrinking backlog. Net sales for the three-month period ended June 30, 2004, totaled $22.2 million, compared with $25.0 million in the same quarter last year. Net earnings for the third quarter were $2.0 million, or $0.38 per diluted share, compared with net earnings of $3.0 million, or $0.60 per diluted share, in the same period a year ago. New orders received during the third quarter were $15.9 million, compared to $15.7 million in the same period last year. At the close of the June 2004 quarter, the Company's backlog was $12.7 million compared to $18.0 million at the close of the corresponding period one year ago. Morton commented, "With order volumes for the third quarter flat compared to the prior year, we did not rebuild our backlog, which had declined in the second quarter of this year. Our customers continue to have a conservative outlook on market conditions and the timing of capital projects approval is hard to predict." "While our operating results and cash generation continue to be good, we remain cautious about the short-term outlook for our markets where we have seen a number of deferred projects. We are continuing our strategy of investing in new product and new market development, and will be introducing over a dozen new products and product families this fall and winter. We expect to see the benefits of these investment programs during fiscal year 2005. As previously announced, our recently completed InspX joint venture adds an important new technology, x-ray inspection, to our offerings and we have other interesting product line extensions in our development pipeline," said Morton. biz.yahoo.com Separately, I see one of my other former favorites, BEL, dropped 22% today....don't own that anymore either. Must've been something they said on the CC.