Cash, cash equivalents and short-term investments:
Q4 2012 $402M (304M less the 98M restricted cash as collateral for lines of credit)
* For all of 2012, Cash flow from operations for the 12 months ended December 31, 2012, was a $17 million net usage of cash. Just $17M. That's pretty darn good.
Translation: With a strong net cash position, CECO has more than enough time to turn things around. In other words, CECO "ain't goin' nowhere any time soon."
* The current retrenchment strategy of cutting headcount by 900 people due to save $45 to $55 million in 2013 alone.
* The Price to Book ratio is a paltry .23. In other words, for every dollar of book value, today's investor is only paying only .23 cents on the dollar. Repeat: .23 cents on the dollar. Think about that.
Good question badmoo_ryzzin. I'm not a money manager, but suspect they have some algorithm upon which they rely in developing the composition of their stock portfolio. and as we know, the entire FPE sector has taken a beating for the last 2 years. In any event, I don't see any Form 4 sales since April 18th.
I've been on the sidelines (no position) watching CECO daily for the past year. Last week I couldn't stand watching idlely any longer and went long at $2.10. With that clean of a balance sheet $2.05 to $2.10 is ridiculously under-valued. Will sell half my position at $2.90 and keep the other half until after earnings release, then re-evaluate.