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Velan Inc T.VLN

Alternate Symbol(s):  VLNSF

Velan Inc. is a Canada-based manufacturer of industrial valves. The Company designs, manufactures and markets on a worldwide basis a broad range of industrial valves for use in critical applications. It provides solutions to many sectors including power generation, nuclear, oil and gas, chemicals, LNG and cryogenics, pulp and paper, geothermal processes, shipbuilding, defense, and carbon-neutral technologies. Its product categories include quarter-turn valves; gate, globe, and check valves; cryogenic valves; HF acid valves; steam traps; bellows seal valves, and Velan ABV valves. Its service includes research and development, maintenance manuals (IOMs), spare parts and service center locations. Its quarter-turn valves include Memoryseal ball valves and VTP-2000 high performance three-piece ball valves. The Company's cryogenic valves include cast steel cryogenic valves and API 602 small forged cryogenic valves. The Company has manufacturing plants in approximately nine countries.


TSX:VLN - Post by User

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  • screamer99X
Comment by screamer99on Jan 15, 2024 10:05am
300 Views
Post# 35826742

RE:Results

RE:ResultsTotal customer deposits is $62m. Total cash is $30m which means the company spent $32m in cash received from customers for product that hasn't yet been delivered to them. If the cash hasn't already been reinvested in inventory, this is a sign of worse things to come.

A ray of light is in the bookings due to be billed in the next 12 months. This is a healthy number, but the company continues to have the asbestos monkey on their back.

It's a shame investors (I'm not one of them) will need to wait quite a while for year end results, but the next 12 months will be interesting.

Quarterly revenues need to be at least $90m for this valuation to hold up. Maybe more with declining gross margin.
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