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Titan Machinery, Inc. Message Board

  • equitiesresearchdotcom equitiesresearchdotcom Apr 10, 2013 8:56 AM Flag

    FY2013 Operational Cash Flow : Negative $115 million

    Q4 numbers out this morning
    FY2013 Operational Cash Flow : Negative $115 million

    Sentiment: Strong Sell

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    • red flag near $30 a share

      Sentiment: Strong Sell

    • So you don't think they can get financing? Check out their revenues or is that something that doesn't matter to you?

      • 1 Reply to jman6065
      • equitiesresearchdotcom equitiesresearchdotcom Apr 10, 2013 11:16 AM Flag

        they did get financings. $125 million long term note (received last year). they also have floorPlan debt. FloorPlan Payables increased by $137million to $689million. up 25% yoy.
        the only reason they are sitting on $124 million in cash is because they borrowed $125million.(which is a long term liability).

        As far as increasing sales are concerned: Negative Operational Cash Flow is the result of sales on credit. Favorable credit terms to the buyers creates sales. Making sales is great, waiting forever to get paid for the product from the buyer is what counts. (or in this case not counting).

        if you go to their shop today and buy $100k tractor with no money (or little money down), they will report 100K in revenue, 18K in profit (income), but because you only gave them a nickel , then they didn't receive any operational cash flow from you. you walk away with a $100k product and they don't get barely any cash from you. what happens if your small business suffers and you can't make payment? they are beat.

        Obama and the Banks are killing small business owners and banks are allowing anyone to get credit . its trickling down and trickling up. it sucks. TITN's tractor sales are like the housing bubble where people with subprime mortgages never paid for their houses and ended up foreclosing.

        i don't wish ill-will on any of these folks, its just the state of the economy.

        all there acquisitions may have all been suffering the same way. its sad. its unfortunate. i am not happy about it. i just warning people who only read the income statements and sales number and don't read the balance sheet and statement of cash flow.

 
TITN
13.96-0.31(-2.17%)Dec 24 12:59 PMEST

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