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Maverick Tube Corp. (MVK) Message Board

  • irenderit irenderit Jul 25, 2005 10:58 PM Flag

    NSS blowout $1.65 up $2 in ah

    NSS beats by .34, should have listened!

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    • Irenderit:

      Did you bother to read the QTR'ly for NSS? Maybe you did and you're worried and ready to sell. Why else would you be bouncing around Yahoo like a salesman?

      Read where NSS used a Tax Loss carry over to reduce the QTR reported tax load from 15% to 7.6%. This is a one-time event. They could have just averaged it out to 12% for the balance of 2005 but took it all in this QTR. Yes, NSS may get a pop, but those in the know will Sell into it.

      MVK just moved in to the Lain American Market (not yet factored in but accreative). NSS is not there and NSS will have a sequentially down next QTR. Usually I wouldn't comment but since you came here to "tout", someone needs to add some notes. NSS is a Sell.

      >>>"We are pleased to report that Maverick made substantial strides towards a number of its strategic goals during the second quarter. We acquired Tubos del Caribe, S.A., a low cost supplier of quality premium OCTG and line pipe, which gives us a substantial presence in Latin American energy markets."

      >>>NS Group Reports Record Quarterly Results
      Monday July 25, 5:07 pm ET
      Earns $1.65 Per Diluted Share for the June 30, 2005 Quarter


      NEWPORT, Ky.--(BUSINESS WIRE)--July 25, 2005--NS Group, Inc. (NYSE:NSS - News) announced today its results for the quarter and the six months ended June 30, 2005. Net sales for the quarter were a record $167.8 million, a 21 percent increase over sales for the first quarter of 2005. The company reported record operating income of $40.0 million for the second quarter, a 77.2% increase over first quarter 2005 operating income of $22.6 million. Net income for the second quarter of 2005 was a record $37.2 million, or $1.65 per diluted share, compared to net income of $19.3 million, or $0.86 per diluted share, in the first quarter of 2005.
      Net sales for the six months ended June 30, 2005 were $306.8 million, compared to $194.0 million for the six months ended June 30, 2004. Operating income for the first six months of 2005 was $62.6 million, compared to $27.1 million for the comparable prior year period. Net income for the six months ended June 30, 2005 was $56.6 million, or $2.51 per diluted share, compared to net income of $25.6 million, or $1.20 per diluted share in the prior year period.

      Net income for the first six months of 2005 benefited from the utilization of tax net operating loss carryforwards. In addition, net income for the three months ended June 30, 2005 benefited from a reduction in valuation allowances against certain deferred tax assets which resulted in an effective income tax rate of 7.6% in the second quarter. The company estimates the effective tax rate for the second half of 2005 to be approximately 15% and 13% for the full year of 2005.

      NSS
      Valuation using the industry's current multiple (P/E):

      Fiscal Year Est. Price % Change
      12/2005 $42.67 4.08%
      12/2006 $34.27 -16.41%

      NS GROUP, INC. current price: 41.00
      Steel & Iron group current multiple (P/E): 8.40


      NS GROUP, INC. average 12/2005 analyst estimate: 5.08
      NS GROUP, INC. average 12/2006 analyst estimate: 4.08

 

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