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Iteris, Inc. Message Board

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  • bbarberayr bbarberayr Jul 27, 2011 3:05 PM Flag

    Vehicle Division Sale

    Still no SEC filing, but they said in the con call, the transaction will add $12 million in cash and reduce assets by $6 - $7 million including about $5 million in goodwill.

    They will use NOL to minimize federal tax payable, but California tax will be payable as they have suspended NOL due to their budget deficit.

    So the net benefit to the balance sheet should be around $0.17 depending on how much they get above $12 million and how much tax is payable. This bumps the BV up to $1.72 and also hardens the balance sheet by getting replacing about a quarter of the goodwill with cash.

    P/B gets down to 0.75 range.

    The next key will be to see improved revenue and margins in the remaining business given the stronger focus on this.

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    • The CEO has his eyes on something to buy...I don't expect that cash to be around for long. The question was asked on the call why now with the sale of vehicle sensors..he gave anlong winded no answer. Because he couldn't Really give the real answer which is a purchase is on the horizon.

      Lets hope it's a good one.

 
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