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North American Detectors Inc. manufactures smoke and carbon monoxide detectors. The company went public on the Canadian Dealing Network in June 1997, symbol NADI. The important fact to know is that they recently acquired the brands and assets of bankrupt American Sensors Inc. (formerly SNIFF on Nasdaq; ASZ on Toronto) for $14 million. Financial info for the new company is hard to come by but a recent news item projected current year sales at $30 mil. and net profit after tax of $3 mil. Management (which, as it happens, used to own American Sensors and sold out before it went into decline) says the new company will focus on profits as opposed to total sales. The market cap of NADI appears to be about $29 million. I would expect the sales and earnings to ramp up rapidly as the new company sells its improved products under the well known American Sensors brand name. It will be interesting to see what happens. Here's a link, plenty more info is available on Canada Newswire. newswire.ca And the company has a home page already: nadi.com | ||||||||||||||
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