These brands are worth more than $180 million! Wake up, Wall Street!! Selling for 60% of book value. 1.5-2.0x historical peak EPS. Net debt is only $25 M, on $325 M or so in shareholders' equity. Current assets are 3.5x current liabilities, so they have liquidity OUT THE ASS! Company will likely return to profitability in 2010, IMHO. What am I missing here??!
Increased my position another 10% or so on Friday. I now own more shares, outright (195,000), than the CEO, which, based on this comment of his in the conference call...
"I can tell you that I am our largest individual shareholder."
...makes me the largest individual shareholder of Furniture Brands, Intl.