Tue, Jul 29, 2014, 10:22 AM EDT - U.S. Markets close in 5 hrs 38 mins


% | $
Click the to save as a favorite.

UniTek Global Services, Inc. Message Board

  • realshazard realshazard Apr 24, 2013 9:19 AM Flag

    it gets worse

    I didn't pay much attention to the details of UNTK's crushing debt and cash flow problems, because the debt alone was more than I wanted to pay for a mediocre outsourcing company, and moved on. But taking a look at the filings now, things are bad. Not only is there crushing debt, but the numbers are fudged. Mgmt says just $5M of capex, but that understates capex because all the capex takes the form of capitalized leases ie debt. And then there's about $7M of comp and interest that's capitalized. And then the huge working capital deficit. As the company grows, it consumes more working capital (ie pays employees before it gets paid), so the only way to generate cash from ops is to shrink. Damned if you do . . . . At this point, I don't see how the banks get repaid, much less the equity.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
0.44+0.02(+4.27%)10:17 AMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.