The link is now fixed. And the labels on past conference calls are corrected. But there is no link to the latest conference call. Of course, there was no promise to make it available on a time delayed basis, so it may be that I simply won't be able to get at it.
Thank you ARTW for taking care of the obvious problems.
Sorry, but I was not paying attention and missed the conference call this morning. But I'll make a few comments here based upon the written PR.
First, I was in a larger library on Friday and was surprised to find that Value Line has ARTW in it's expanded edition. That is important to me as I use copies of their one page summaries to track most of my holdings, and really don't have a good routinized way of recording changes except on those pages.
Then, when I realized I'd missed the conference call, I went to our website expecting to find an archived conference call from this morning but no such luck. Furthermore the old calls are badly labelled and I had to download the call from 4-08 in order to determine that the one on top was the most recent from 10-08-2008. Just a minor glitch, but someone needs to pay attention to keep the website from becoming junky and unusable.
Finally, there is some sort of disconnect in what Ward wrote in the year end earnings announcement and the explanation. ARTW is paying more for overtime and is subbing some production, yet the explanation is that the economy is tough? I too am surprised by a large backlog of orders for augers but only 5 employees though I imagine just getting organized has been a major project since I visited about Dec. 13. At that time just sweeping up the production floor was needed as it was completely empty and had accumulated dirt and dust from some time sitting idle. Same sort of feeling about vessels--lots of quotes out, but no actual sales? That's just a few guys also in a large building. I'll bet it feels lonesome in there too.
Those last comments are just guesses from what you reported hearing at the conference call. Once I hear the call, I'll write up a longer and better organized report for IV. I was not even aware that anyone was looking in there.
skip, i read all posts on ARTW and usually you are the only one visiting the sites. maybe you mis-understood me about Vessels. It is very bullish that quotes are coming in since the lack of sales over the last year. ARTW sounded very bullish on the turn-around on Vessels which appears to be taking place. ARTW described a situation with outsourcing in paint as i recall for Vessels which has been corrected. imagine a 3 million plus revenue division again. the profit in Vessels was healthy. with droughts in the west and south and Vessels specializing in water containers and a liner cutting costs of the unit and new mgmt this sounds good. T.Boone Pickens is predicting $60 dollars on oil before it see's $40.00? unfortunately dairy farmers are losing money on milk. dairy farmers in the short run will not be buying new equipment. any more visits to ARTW plants please report.
I listened to the call and I thought it was good and to the point. I was especially glad to hear about Scientific as I feel that Stimulus pork will result in "research, education, ag, green" types of work which should lead to these buildings being needed...in fact, I wonder whether they have CAPACITY for it.
Also, I have chatted on several farmer boards about Feterl, the elevator company that went BK in S.D....they had great reputation. I assume that they will be mktd. as Arts-Way...need to make the link to Feterl which seemed rock solid ...at least as elevators are concerned.
Also, next time I would like to ask about relation to actual equipment Arts-Way sells vs. DE, CNH etc. To me it seems that DE and others rise when corn and beans rise but actually, the livestock producer...hogs, cattle, dairy is the purchaser of Arts-Way stuff so when corn, beans go down, livestock feed is less, so livestock producers have greater profits... to buy silage blowers, hay equip, feed grinders etc.
thats an interesting point about grain and about the elevators. i am more bullish on Salem, South Dakota then ARTW is: or are they playing a cat and mouse game with the situation. obviously we have a company which is still in bankruptcy and as far as i know the assets and buildings are in court. furthermore ARTW does not want to violate any trademarks or patents. i assume thats why there are so few employees until the engineering is ready and the mfg may resume. one million dollars in advance orders shipping in may without a sales staff in the field will add considerably to ARTW revenue. now that the sales staff has been given the augers i expect huge results. hopefully they will expand Salem rapidly and add to the economy and increase ARTW profits.