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Universal Security Instruments Inc. Message Board

  • mmmparsley mmmparsley Feb 14, 2007 10:44 AM Flag

    Should continue rise for another quarter...

    Earnings we excellent by any standard.

    JV continues fast growth.
    Conduit hurt earnings, yet still record earnings we achieved.
    Home Improvement retailer to stock Universal Alarms.

    WOW! Guys, I don't think it could have gotten much better that that. I think the actual results were more optimistic than any of your prior expectations.

    .71 cents per quarter with strong growth on horizon now demands a PE of at least 15. The forward PE should be at least 13.

    Let's Assume .71 cents/.75 cents/.80 cents/.87 cents equals a 3.13 prediction over the next four quarters (today's included). Multiply that be a forward PE of 13, very modest considering the growth factor), and this is a 41 dollar stock, today.

    Obvious buy at these prices.

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    • Official 10-Q out. You are right, the results were excellent. As I see now they managed the strong earnings even taking into account income taxes whereas for the quarter before they had a tax benefit.

      JV is growing like a weed. They seem to have picked up a good amount of their sales even outside of the UUU contract.

      Icon and Intube acquisitions look to be shrewd buys at first glance. Purchase price for both companies was $1,784,120 in cash. $1.7mm to add $3,312,861 in stated book value to the company! That's a pretty good buy if you ask me. Let's be conservative though and discount some acquired assets.

      I'm going to do worst case here and do liquidiation value at fire sale prices. Let's say of $1.17mm accounts receivable only 75% is recoverable, existing inventory of $1.82mm is sold at 20% discount, and property of $1.96mm is sold at 20% discount. I still get BV of $2,178,692 or return of 22% on the cash. Nice.

      Unless they run these new businesses into the ground or they absolutely bleed cash looks like a great deal.

4.3192-0.2008(-4.44%)Jul 10 4:00 PMEDT

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