Non-Tech
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AMCOR Capital Corporation (ACAP)
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| An SI Board Since October 1996 |
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"AMCOR continues its successful turnaround" notes the High Growth Newsletter. They discovered this company at the beginning of the year and watched it. They highlighted it in a "Spotlight" article in their March issue. AMCOR's basic business is managing agricultural property, primarily table grapes and dates in southern California's Coachella Valley (south of Palm Springs). They are one of the Country's largest growers and shippers of the now famous early red Flame Seedless variety. The Company manages over 2,000 acres. AMCOR is also vertically integrated from production through packing, cold storage and shipping. It's proprietary "Sun Goddess" label is recognized in major markets througout the U.S.
Due to its agricultural background, AMCOR has also come across some unique transitional properties in southern California and Texas, which are on the fringe of urban growth. Taking advantage of this, they now manage over 2,000 acres of pre-development property. The most significant one currently, is just outside San Antonio, TX where they have just completed development of an 18 hole championship golf course. The development when completed will have up to 1,000 homes around the course. AMCOR estimates revenues from this site, at about $38 million over the next five years. Other properties are in La Quinta and Rancho California, two heavy growth areas of southern California.
The Company also own an 8,000 acre farming operation on the Columbia River of eastern Oregon, where it grows various crops including potatoes for McDonalds and corn for Green Giant.
Earnings per share for the company has grown from break-even in 1993 to 5 cents in 1994 to 10 cents in 1995. For it's fiscal 1996 year ended August 30 they are looking at 15 to 17 cents.
As the High Growth Newsletter noted, "There's more to AMCOR than meets the eye. We believe the turnaround has begun for this company."
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