posted
Been in this since 3.75 and 4.05-going long in my IRA. Reason I post now is cause earnings will be released AH tomorrow. IMO its def one to watch and consider taking a position in LT at some point least... you may want to wait in case estimates are short but I doubt it. GL if you get some before tomorrows release!! Posts: 2794 | From: nyc | Registered: Aug 2005
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this is from a buddy of mine on ihub from a few months ago--
Posted by: realest In reply to: stocksablaze who wrote msg# 84 Date:3/27/2008 10:44:33 PM Post #of 105
I posted this on another board here, i just wanted you to have my knowledge on this subject too. I work in the steel business, any insight you'd like just ask. I've been in it for 13 years, so to me it's all routine now. LOL
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I'll give you one you'll love. SUTR, we can thank Stocksablaze for bringing this company to our attention.
Pick it up at 4 if possible.
This company makes galvalume in china. I work in the steel building business. Galvalume is primarily a roofing material or used for liner panels or wall applications. Cost is escalating quickly on this product because it's a zinc and aluminum hot dipped product. Zinc is in short supply.
A few companies are in a tight situation for supply because some manufacturers are supposedly lacking in raw product and have turned back contracts. Ternium is one such company. The other issue is that back in 2000 many of the companies that were making this product consolidated or folded. In north america there are only a few manufacturers left, Ternium, US Steel, and Wheeling Nisshan are the 3 majors off the top of my head.
End users such as the company i word for are getting busy right now as customers are rushing to beat the huge price surges coming in April. May and June will also see price increases in steel. The aftermath of this is uncertain though and lends towards the idea that domestic use of steel may soften somewhat.
However, this is not true with international steel. Those countries are still rolling along just fine and is also one reason why our steel mills are raising rates at fast paces. North American mills have the benefit of export business.
Posts: 2794 | From: nyc | Registered: Aug 2005
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wow it seems they just got a new CEO, day before earnings lol... little suspect imo we'll see.
Posts: 2794 | From: nyc | Registered: Aug 2005
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Third Fiscal Quarter Financial Performance Highlights
We continued to experience strong demand for our products during the third fiscal quarter of 2008 and growth in our revenue and net income. Our new AP Steel production line and cold-rolled production line contributed approximately $35.81 million revenue in the third fiscal quarter of 2008. We further strengthened our vertical integration. During this quarter, a large portion of our AP Steel and cold-rolled products were used for the production of HDG Steel and PPGI products, and approximately 56.89% of the HDG Steel products were used for the production of PPGI products. This enhanced vertical integration allowed us to achieve a higher gross margin in the three months ended March 31, 2008 compared to the same period in the previous year. In addition, revenue generated from sales of PPGI products, which are our higher-margin, higher-end products, also increased in this quarter. The following are some financial highlights for the third fiscal quarter of 2008:
Revenue: Revenue increased $26.82 million, or 37.62%, to $98.10 million for the three months ended March 31, 2008 from $71.28 million for the same period last year.
Gross Margin: Gross margin was 12.05% for the three months ended March 31, 2008, as compared to 10.16% for the same period last year.
Net Income: Net income increased $3.90 million, or 100.52%, to $7.79 million for three months ended March 31, 2008, from $3.89 million for the same period of last year.
Fully diluted net income per share: Fully diluted net income per share was $0.21 for three months ended March 31, 2008, as compared to $0.11 for the same period last year.
Posts: 2794 | From: nyc | Registered: Aug 2005
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half my shares hit a stop loss hit at 8.10 today... im happy but of course i wish i sold em at 9.40 yesterday lol. anyway its back under 7.50 range. THey may take this back further before the move to 10+ but i do think its coming. Trend is still intact on chart!
Posts: 2794 | From: nyc | Registered: Aug 2005
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Plan on getting in this one and in CPSL come next week. Looks like a good entry point to me.
MTex
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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Nice! Float is extremely small on SUTR. You'll be surprised where they give you shares! takes some wild swings.... should be a good one down the road though.
Posts: 2794 | From: nyc | Registered: Aug 2005
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