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Snyder's-Lance, Inc. Message Board

  • shortofaname_99 shortofaname_99 Feb 11, 2009 8:25 AM Flag

    LNCE: Poor cash flow

    LNCE generated barely $10Mn of free cash flow in 2008, ex-stock comp add back. A $600Mn market cap for this company seems excessive. Also, it indicates poor earnings quality and maybe even accounting fraud. There are other red flags e.g. the company had less than $1Mn of interest expense this quarter on almost $100Mn of debt. EPS guidance for '09 seems unachievable, and even if they do, this is a $12 stock at best.

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