RE: RE: here are the 2012 results..... my opinion
first the negatives:
1.Guess im not that impressed with the q4. the net income was only 6.7M compared with 32.6M from Q3.
seems to be mostly that foreign exchange gain/loss. ANS got a free? 18M last quarter because of it and penalized 7M this quarter because of it.
if the same exchange gain was the same this quarter as last quarter, our net income would have been 34M or (.34c/share), which would have brought our 2012 earnings to .56c/share.
2. there was a death at the grande prairie mill (feb 2013), i was not aware of. It was out in the yard, and just one-of-those-accidents but a death is always bad news and negative.
now the positive
everything is chugging along and production is steady and good.
The item that really caught my eye was the adjusted Ebitda margin of 36%. Wow. To earn $36 on every $100 on sales just sounds incredible to me, and next quarter will even be better. Considering last year it was around 3%, shows how boom or bust this company is with OSB pricing.
So overall, my opinion is staying the same. I don't think ANS is going to be flying anytime soon but i think its going to track a nice upward trend with OSB pricing and is just a really good Hold to Prosper stock.