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MFC Industrial Ltd. Message Board

  • gp5561 gp5561 May 15, 2013 7:41 AM Flag

    Net Income down 70% with a revenues increasing 40%?????

    I'm no math major but these are some TERRIBLE numbers. What in the world is going on with this company?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The company is a commodity based asset play. Earnings will be 'lumpy' with wide swings. If one is worried about earnings for a particular quarter or about missing some analyst's supposed 'guidance' by a penny than this is probably not a stock that you want to own.

      The 'highlight' of the release is the joint venture in Canada.

      Hopefully some additional info on the CC especially in regards to any new opportunities.

      • 1 Reply to dickeypiper1
      • Either they didn't take the $45 million write-down on their unsecured credit loss at Oltchim (which would be worrisome as it hurts the credibility of their "assets") or they tried to hide it in SG&A which would explain the 'disappointing' net income but is also worrisome as it shows they are not ready to admit their massive failure in risk management.
        Just as with Goa, Uganda and most of their other operations, disclosure remains non-existent. You can only keep holding if you believe the numbers, but unfortunately they are becoming less and less believeable if you connect the dots.

        Sentiment: Sell

 
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