Investors....come in please!

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I've had ABB since it was $7 and didn't expect it to go off the chart like this. Remember Dow 30,000 as long as they can keep pushing prices up market goes with it.
 
This market is like a Chinese water torture. Everything goes up in the morning, and the selloff takes hold in the afternoon.
Generally this is not good, but the averages don't seem to be overvalued. Maybe just a case of the summer doldrums......?
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This sector has been very good lately and here is a example of it.Penford Quarterly Earnings More than Double to $0.54 per Share
6/28/2007 6:00:12 AM
Sales Improve 21%, Gross Margin Expands 54% in 3rd Quarter FY 2007


CENTENNIAL, Colo., Jun 28, 2007 (BUSINESS WIRE) -- Penford Corporation ( PENX ), a global leader in ingredient systems for food and industrial applications, today reported record sales for the quarter ended May 31, 2007. Consolidated sales increased $16.3 million to $95.4 million from $79.1 million a year ago and gross margin increased $6.5 million to $18.6 million from $12.1 million last year. Third quarter operating income grew 145% to a record $8.5 million from $3.5 million in fiscal 2006. Net income for the quarter was $5.0 million, or $0.54 per diluted share, compared to net income of $2.0 million, or $0.22 per diluted share, for the same quarter last year.

Quarterly revenue rose on higher average unit pricing in all businesses, new product introductions by the North American Food Ingredients segment, and product mix improvements. A 10% appreciation in the Australian Dollar also contributed to the sales increase. Consolidated gross margin as a percent of sales expanded to 19.5% from 15.2% a year ago, driven by pricing gains and lower manufacturing costs worldwide. Consolidated operating expenses as a percent of sales declined to 10.6% of sales from 10.9% last year.

Interest expense for the quarter was $1.4 million compared to $1.5 million last year. Interest expense of $0.1 million associated with the Company's ethanol construction project was capitalized in the third quarter. During the third quarter, Penford capitalized $5.3 million of costs attributable to the ethanol project, for a total of $11.2 million at May 31, 2007.

Reported net income for the first nine months of fiscal 2007 was $9.2 million, or $1.01 per diluted share, compared to net income of $1.7 million, or $0.19 per diluted share, a year ago. Consolidated sales for the nine months ended May 31, 2007 grew 13.7% to $266.1 million and operating income expanded to $16.5 million from $5.0 million last year.

Third Quarter Fiscal 2007 Segment Results

The Company's North American Industrial Ingredients business reported quarterly sales rose 26.7% to $53.0 million from $41.8 million last year. International shipments expanded 32% and volumes of Specialty Products grew 39%. Higher unit prices and mix improvements contributed $5.2 million to revenue. The impact from passing through higher corn prices to customers added $7.8 million. These gains more than offset 6% lower volumes as sales of toll manufactured products declined. Quarterly gross margin improved by $4.3 million, or 66%, on increased revenue and lower manufacturing expenses. Gross margin as a percent of sales increased to 20.4% from 15.6% a year ago despite a 3.5% negative impact on the ratio from the effect of passing through higher corn costs. Operating income doubled to $7.1 million from $3.5 million last year. The construction of the ethanol plant within the Cedar Rapids site is on schedule with production targeted for the end of this calendar year. The designed output capacity has been expanded to 45 million gallons with a proportional cost increase that maintains our $1.00 - $1.05 per gallon capital investment in this project.

Quarterly sales in the North American Food Ingredients business grew 24.3% to $17.1 million from $13.7 million last year. Volume increases contributed 9% to the gain while higher unit pricing and improved mix added another 15%. Sales of potato coating and protein applications expanded at double-digit rates. Products with formulations designed for the pet chew and treat markets were introduced during the quarter and this category accounted for one-third of the sales gain during the quarter. Gross margin increased $1.4 million to $5.1 million, reflecting revenue expansion and higher plant utilization rates. Operating income for the third quarter rose 67% to $2.9 million from $1.7 million last year.

Revenue at the Company's Australia/New Zealand business was $25.7 million, up $2.0 million from last year. Volumes decreased 3.6%, primarily in categories experiencing competition from products manufactured in countries with weaker currencies than Australia. Price increases overcame a $0.9 million increase in grain costs, reflecting the Company's program to offset the impact of the recent drought. Improved manufacturing efficiencies lowered production costs and more than compensated for slower volumes. Gross margin as a percent of sales improved to 10.4% from 7.9% last year. Operating income for the third quarter tripled to $0.9 million from $0.3 million a year ago.

"The third quarter results represent a step-change in performance for Penford," said Tom Malkoski, Penford Corporation President and Chief Executive Officer. "Our Australian business is advancing programs that align costs and resources with sensible initiatives for margin improvement. North America Food Ingredients continues to build its established business while extending technologies into new applications and markets. The Industrial business is operating its core business well, continuing the solid pace of growth in high value Specialty Products and constructing capacity for ethanol production. I believe these broad-based initiatives will deliver value for our shareholders into the future."

Conference Call
 
You shouldn't have a hard time finding something to buy with a stock like CF and most any tech stock as that sector is rocking.Looking on my advanced Analyzer there are a abundent list of stocks to choose from. Remember 1000 shares moving 1 point only is a lot of profit.What I don't know is the tax structure on how to keep most of the $.
 
I just watch these various hi yield funds (of whatever type you know me) and dive in when they are dipping. I bought PPR yesterday when it came back almost to $7. lookie at that yield.
 
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I just watch these various hi yield funds (of whatever type you know me) and dive in when they are dipping. I bought PPR yesterday when it came back almost to $7. lookie at that yield.




PPR looks good, I put in on my watch list.
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