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PMFG, Inc. Message Board

  • Valueman79 Valueman79 Sep 13, 2000 10:45 AM Flag

    Those market makers .....

    Market makers having a ball keeping the spread so high (almost 3 points at one time). Stock wants to climb up -- there is no question about that !!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • With the power build-out stocks moving into the stratosphere over the last year, PMFG was left behind.

      The time for market recognition is very near!

      • 1 Reply to TieTheKnot
      • Peerless to post Q4 loss on acquisition
        integration
        DALLAS, Sept 15 (Reuters) - Peerless Manufacturing Co.
        (NasdaqNM:PMFG - news), a manufacturer of filtration equipment
        used in the utility and natural gas industries, on
        Friday said it expects to post a loss in the fourth
        quarter because it is taking too long for the company to
        integrate a recently-acquired plant.

        ``The
        disappointing results for the fourth quarter were substantially
        adversely affected by slower than expected integration of
        the company's recently acquired ABCO manufacturing
        plant,'' said Sherrill Stone, the company's chief
        executive. The integration would be finished by the second
        quarter of 2001, he said.

        Peerless said it expects
        to post a loss of about $310,000, or 20 to 25 cents
        per share, in the fourth quarter. Fiscal year net
        income should be about $970,000, or 65 to 68 cents per
        share. Revenues in the fourth quarter will be about $22
        million, Peerless said.

        Peerless also said it
        suffered cost overruns and other expenses from a $12
        million order it received in December. The company also
        said it lost $160,000, or 10 cents per share from its
        separation and filtration products because the energy market
        for those products still hasn't recovered from a
        recent downturn.

        Shares of Peerless, which said
        it will release earnings on Sept 26, closed off
        $1-1/2 at $20-1/2 in trading on the Nasdaq, before the
        news was reported.

 
PMFG
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