• FEDCO won another mega-SWRO project (over 300,000 m3/day) in Saudi Arabia. This is their second straight mega SWRO project win. Looks like they are leaving ERI in the dust.(http://www.fedco-usa.com/?q=content/fedco-turbocharge-ras-azzour) • After the Pei debacle that cost ERI over $20 million, looks like their new strategy is to use IPO cash to buy back shares to help the insiders exit at a better price
The stock is stuck in a trading range 2.50 to 3.50 for the foreseeable future. Only thing that will turn this around is an increase in earnings but have to wait for this down cycle to turn. I will keep it on my radar screen because they will survive the storm.