8K had some data on backlog build. Problem remains as usual there is no detail on current contracts or new business which ceo characterized as extremely strong on the previous eps release.
Options. Why buy when you can get them free? But obviously management does not know how to build shareholder value when it would build their wealth?
Tired of being on the wrong side of the trade? So was I until I joined PennyStock101 The alerts are quality, not junk and they are straight forward and cut out the hype.
What seems mysterious to shareholders is the lack of any visibility on current and/or future contracts. Words like extremely strong interest can only be found explain in the backlog in business. Even when good news would help the company and shareholders it's not revealed. I had expected the stock to take a major hit downward, it goes up, lol. So what do I know. Not sure why I hang out here but a company making money and selling at such outrageous prices just keeps me hoping.
You seem to know a lot and you care or you wouldn't bother to post ...after reading briefly the 10q seems they spent a little more money for talent.... I think given the downturn and positively crippling situation for energy that even a small loss is positive..all things considered... Englobal still one big contract, one acquisition ,one upturn for the sector, one buyout away from things being great.
Sentiment: Strong Buy
Anyone got a theory on this one? Last quarter report extremely strong contract sales and then boom, a loss eps. Not as strong guidance/language from ceo but backlog is increasing.
Mark Hess, ENGlobal's Chief Financial Officer stated: "As previously indicated, our year started slowly and was characterized by lower utilization of the Company's resources. However the positives are that the Company has observed an increase in proposal activity and a 37% increase in backlog during the first quarter, centered primarily on downstream and automation related projects. As work is being initiated on an increased level of backlog, utilization into the second quarter of 2016 has shown improvement."
Mr. Hess continued, "ENGlobal remains well positioned to successfully navigate through the current industry environment - namely we have maintained a substantial cash balance, had positive cash flow from operations and had no borrowings from our working capital line during the quarter. We are also active in considering both internal and external opportunities to grow the Company."
William A. Coskey, P.E., Chairman and CEO of ENGlobal added: "One ENGlobal response to the current environment has been to opportunistically invest in our business, primarily through the addition of highly experienced project and business development professionals as they become available. While there is obviously a short term cost to this strategy, the Company fully expects to benefit over the longer term through an expanded customer base, wider list of offerings and participation in new markets."
Mr. Coskey continued: "The early signs regarding the addition of key personnel are encouraging, based on positive trends in both proposal activity and backlog witnessed during the first quarter. In addition, we have coupled these longer term investments with several prudent short term steps to further reduce operating costs."J
This trades like no other stock I know. Somedays the volume is a few thousand shares and a couple 100 shares sets the price.