Not yet, but I think it is getting close. As their competitors cut back, I hear UUU may be gaining market share particularly in Home Depot. Very impressive their intro of new products. Could be an excellent 2nd half for the company and when we get the slightest hint of stability on the home front uuu's going back to book just under 10 or better.
UUU paid about 42% in taxes this quarter despite earning most of its profits in Hong Kong, where they pay less in taxes because their US tax obligation is partially offset by taxes paid in HK.
Taxed nominally, UUU would have earned about 370,000 this quarter.
This quarter, or perhaps the next quarter or two should provide trough earnings as housing starts fall to as low as 350,000. After that, housing starts should rise and stabilize between 1 and 1.5 million.
I heard Japan was close enough that they were looking for distributors but I don't know if they actually got the approval yet, hopefully they will comment on the earnings release. I think they will get China soon as well and with either approval business and stock should get super strong.