SIFCO Industries Inc. Message Board
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earnings
They never give any color. Operating earnings were up 39% before amort. Amort was the result of the forging acquisition last year. Since they do not provide the cash flow statement, it is not so obvious what is happening. these were good earnings/cash flow numbers. not to worry.
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U guys are missing one key factor. LIFO inventory reserve increased by $1.5 million, shaving just shy of $.28 off of earnings. Add this back to earnings to get real performance. It's an accounting issue that can hurt earnings when inventories rise and benefit earnings when inventories fall. Results are much better than they appear
Sentiment: Strong Buy
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Love this company: plugs along with 15% ROE and only 7.5x EBITDA. One director owns 13% and management is approaching 65 yo. Perfect takeover candidate for large aerospace company. Worth $30 right now and more each year.
- 1 Reply to rcsam
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http://finance.yahoo.com/news/sifco-industries-inc-announces-fiscal-182300876.html
Sentiment: Strong Buy
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Hugely disappointing. What happened to "Accretive to Earnings". Flat out the their EPS stunk as others in the same space are blowing out earnings. I think a lot of investors got sucked in expecting the same from SIF. analyst112 is correct in that they never give any color and some is surely needed now. It would appear that SIF is at best dead money and a broken stock now. I would love to eat those words.
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Sales would have also been higher. Sales from a customer altered orders due to some year end inventory adjustments.
The second quarter has a tough comp.. Hopefully the forging acquisition will begin to kick in nicely. Backlog is up. Overall, this sell off was overdone and should reverse once savvy investors read into the numbers. -
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