I loaded in the $1.90s. It's absolutely amazing to me that, even though the company has plainly stated in the 10Q that backlog outside STEC has greatly inproved, and that Dec qtr revenues will likely be strong, that investors aren't buying it up. Using only the same revenues as in the Sept qtr, using normal margins, tax rate, expenses, etc, GV should post around $.08. However I believe they will post higher revenues of around $25M+ for the Dec qtr, and post $.11-$.12. Either way though, the company is showing strong growth now outside STEC, proving they have replaced the STEC contract with smaller jobs. The company easily deserves $3+, and this only assumes an 8 PE going forward, I continue to add on any weakness.
The problem - there is no analyst(s) following GV. Goldfield must reach out and get the PR word out- the press release alone does not cut it.. It has been an on-going problem. They are considering to increase communication output- I have spoken with "those" at Goldfield's subsidiary Southeast Electric- they concur. I suggest you contact Sotille!! I have. He will reply. He is comfortable with the occasional press release. Express your PR concerns to him.
I think it's a great buying opportunity below $2 for those who know how to read a 10Q. The other people will be buying at $3. Q4 results will put GV back on the map imo. Gotta like the words "significantly augment"!!
Significantly, non-STEC backlog at September 30, 2013 increased 31.8% to $24.5 million, from $18.6 million at September 30, 2012. Of our total backlog at September 30, 2013, we expect approximately 66.9% to be completed during 2013. Contracts already awarded since September 30, 2013, together with other anticipated contract awards, are expected to significantly augment fourth quarter revenue.
Yes, and most likely GV wouldn't have stated that recent and anticipated contract awards are expected to significantly augment fourth qtr revenue if it weren't going to be higher than the Sept qtr. Being that Sept qtr revenues were $23.4M, I believe they will be more like $25M+ for the Dec qtr. Since without the rare contract loss in the Sept qtr, they would have posted $.07-$.08 in EPS, I believe that they will post $.11-$.12+ in the Dec qtr. Also this doesn't even include the potential of future earnings from the aquisition they mentioned might happen in the 4th qtr, or any sizable contracts that might surprise us with.