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Streicher Mobile Fueling Shares Up 24 Percent After Company Posts Gains in 1st-Quarter Earnings
NEW YORK (AP) -- Streicher Mobile Fueling Inc. shares soared 34 percent higher Tuesday after the company posted a hefty increase in first-quarter income. The stock rose was up 87 cents, to $3.42 in midday trading on the Nasdaq, in the middle of its $1.12 to $5.55 52-week trading range. Volume of 3.4 million shares was nearly three times its average daily volume of 1.8 million shares.
The Fort Lauderdale, Fla.-based Streicher delivers petroleum products, including gas, diesel and alternative fuels to customers with large fleets. Earlier Tuesday, the company said its net income more than doubled to $615,000, or 6 cents per share, from roughly $295,000, or 4 cents per share, last year.
Revenue surged 86 percent to $53.6 million from $28.9 million.
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New Business/Revenue: --------------------------------------------------- ---- Streicher Mobile Fueling, Inc. Completes the Acquisition of Houston-Based H & W Petroleum; Issues Senior Secured Notes
October 07, 2005 Streicher Mobile Fueling, Inc. announced that it has completed the acquisition of Houston, Texas-based H & W Petroleum Company, Inc. (H & W) a marketer and distributor of lubricants, fuels and petroleum products with operations in Houston, Lufkin, Freeport, Waco, Waxahachie and Longview, Texas. The original purchase price was approximately $6.3 million. As previously announced, the Company issued $3.0 million in 10% five-year redeemable Senior Secured Notes with a two year moratorium on principal payments. Installments of six semi-annual principal payments of $300,000 will commence on August 31, 2007, with a balloon payment of $1.2 million at maturity on August 31, 2010.
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FUEL; Seems to have bottomed and ready for the next leg up going into CC 11/15!
We had to have set higher lows during this run, correction and now stabalization.
Total O/s shares have traded not including today's vol;
float of just over 6 million here. We traded 8 million on Tuesday above $3.10... and just 2.5 million on the pullback yesterday. That's a lot of buying and little selling with a small float with incredible financials. Guidance should be coming soon moving forward. Conference call next Tuesday. Much more upside is coming. Buy the dip...JMHO
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