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Magal Security Systems (MAGS) Message Board

  • r3ady4you r3ady4you May 30, 2012 10:39 AM Flag

    Sold out because...

    Didn't the company have $5.6 million that was attributable to the Q1 from the project in Gabon? Didn't see it in the PR, but I know that I baked it into my top line estimates for the Q, so I'm looking at a huge miss, especially when the income came from a tax position.

    Given what has happened to the price since I sold, I got a good deal on it. I think it's a buy when I have more clarity on the FY2012, but the Q looked awful keeping in mind that it is always is seasonally weak.

    Anyway, the action today may or may not be justified, but when I saw the report I thought we might be down 10%, maybe not as down as this but I figured I can get back in much lower.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • back out the 46k gain from the tax earnings and you still get eps of .00 because it is so small of a fraction. still a 100% gain in earnings from 2011 q1.

    • good call, buy high sell low. you are buying the whole business for 23mill, the rest is in cash, revenue growth is there, expenses need to be lowered, still looks like huge panic selling here + red market doesn't help, will recover to over 4, p/e now under 5 for a 120% revenue growth and profitable company, sounds cheap

      • 1 Reply to sfvip
      • Guys, I am not bashing. I am just providing you with justification for the sell off today given the earnings report. You can choose to think that everything is peachy. I think it's a good company with a strong balance sheet, but to say that it wasn't a disappointing quarter when you factor in what we already knew about the backlog and the revenue that was coming in is crazy. Cash is great, but that's not cash in your pocket - it is not being burned, that's good. Still, the comps are not only reflective of today but where the stock was a year ago, and it was lower. Now, it's higher, but was taken down a bit by a disappointing quarter IN SPITE OF seasonality which I fully comprehend. The stock price reflects this today. Is it buy here? Possibly, not absolutely. I'll listen to the call tonight. It was a sell for me at $4.17 at 9:30 AM. Will that change with more info/clarity? Pehaps. Still, I don't need to defend that given when it trades at this hour. Good luck to you.

 
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