I think they have operating earnings consistently coming out around 40M, which means the company is very likely worth 8x that or 320M. On 28M shares, that's $11. (If the SG&A increases are really SG&A, and if Alden can get them under control, then there is probably upside to the $11.)
When we get the $11, I have no idea.
I would watch the insider trade reports carefully. If you see any buying--especially by Rick Alden--then you will know that his turn around plan is working. Then I would be a buyer, but otherwise no.
Alden registered 700,000 shares so he had 90 days to sell. I can't remember the dates but it was this year. Andrus just registered 100,000 shares recently as well. Alden won't buy any shares. Kearl (chairman of the board sold all his last year, frankly he should be removed in my opinion as he brings nothing o the company nor has any insentive to raise the stock price). Alden is BIG TIME into favoritism with his buddies. Kearl gave him seed money back 10 years ago, Andrus walked with 8% of the company plus a million dollar severance any was his golden child since the beginning. His newest buddy is some techno dude from Burton who he is tasking with all product and packaging development. Like he said on the EC this dude put Skullcrushers into helmets! BFD
There is a movement started which is gathering substantial shareholders to clean house of the board and light a fire under Alden to sell the company before he runs it to the ground. Stay tuned!
I would watch the insider trade reports carefully
First, insider trade reports is "old school" it just isn't used like it use to be. With the new SEC rules and the danger of illegal trading, insiders as a rule of thumb can only trade in the middle month of a quarter without question, anytime other than that they have to be careful. Insiders can ONLY trade on public information that has been released on the company. In my opinion with SKUL recorded numbers and FACTS, now is the time to buy! This co. has a product that sells it just needs to change the way they collect recieveables which will improve cash flow and margins. Once they get their act together and their ducks in a row his stock is an easy double from here.