OTCPK:TRSBF - Post by User
Post by
theinvestor22on Nov 03, 2008 10:24am
636 Views
Post# 15562193
Ah, enlightenment
Ah, enlightenmentAfter listening to the Q3 08 preliminary earnings conference call, I can see I need to update my posting of yesterday, specifically:
- Per share earnings were better than I estimated they'd be, given that the $2.7M write-off isn't tax deductible. Q3 eps should be something in the order of $.14/share.
- The cash flow amount of $6.4M is for Q1-Q3, not just for Q3 alone. That makes sense. (my mistake)
- The plant now under construction should use up about $20M of capital to complete, which will leave about $79.5M of cash + $8.6M of securities + future cash flow available for share buybacks, expansion and acquisitions. Just the cash and securities total $88.1M or $4.05/share. That's a lot of resources in addition to a sizeable new production facility.
It is interesting to note that, at the conference call, three callers admonished the company for not buying back any shares to date. I agree with these callers; it doesn't matter if the company purchases its own shares at the absolute low price, any price in the current range will do. The stock is dirt cheap right now. After all, they would be buying back shares at say $6.50 that they sold to the public last year at $16.00.