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Clearwater Seafoods Incorporated T.CLR

"Clearwater Seafoods Inc is a distributor of shellfish and seafood with operations in Asia, North America, and Europe. Revenue is largely generated by the company's European branch. Clearwater Seafoods engages in the harvesting, processing, and marketing of seafood. The company obtains wild-caught seafood through its vessels located within Canada and Argentina. Products are segmented into scallops, lobster, clams, coldwater shrimp, crab, Langoustine and Groundfish, and other shellfish. The scall


TSX:CLR - Post by User

Post by Zosimaon Aug 09, 2012 4:49pm
238 Views
Post# 20200476

EBITDA up 37% in Q2

EBITDA up 37% in Q2

That's surprisingly strong, especially given single digit revenue growth, and the fact that Q2 last year was also up big.  The bottom line is a bit messy due to one-time costs on debt refinancing.  The stock is still pretty cheap (although a surge of buying took it up 7% at the end of the day).

 

Reminder that Cooke tried to take it private last year at $3.50/share.  Since then, the company disclosed an independent valuation on its licenses and quotas of $453 million ($8.89 a share, or $3.64 a share net of debt).  Hope some institutional buyers start to take notice soon!

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