RE: Third quarterNet earnings continue to show about
.03 per quarter or about
.10 to
.12 per year on annual sales of about $90 million.
Although annual sales have been flat..remarkable in this recession.......Cash reserves are building, working capital is improving and the remaining long term debt due to related parties is being extinguished.
The balance sheet is improving quarter over quarter. Subsequent to the close of the third quarter 2009, the Company received approval to repurchase 1,246 thousand of its issued shares for cancellation.
At just 10 times net earnings, this stock should be trading in the $1 range.......much more based on price to sales.
A bit of investor visibility should do wonders here....