I will have to admit this was pretty disappointing even considering the special charges. It should have been at least .45 or better considering the increase in revenues when you knock out the special charges, but ex charges, they said it was only .21. Perhaps this lets Ryan McKendrick, the new President and CEO get some of the ugly stuff out of the way and blame it on Larry Washow. They said it cost them $2.7 million for Larry to retire. Then, if 2011 turns into a good year, McKendrick will look all that much better.
The stock is taking a pretty good hit today. Guess that should be expected. I inherited my stock (been in the family since the inception of the company) and am not at all knowledgeable about what to expect this quarter report. Do you expect a drop in dividend payments and if so how much? Thanks for any light you can shed on this.
I think the dividend is safe. Without the special charges, they earned enough to cover it OK and I expect next quarter will be much better. I sold some at 31 this morning, but have bought it back already at 29.5. We'll have to see how smart that was later today. Ha
This sure was an ugly quarter. Looks like some house cleaning. Surprised they appear to write off the Russian and Belgian investment. Maybe more on the call from Q & A. I dread looking at the stock later today.
I suppose if you look at the year overall adjusted for special charges it looks pretty good, but this quarter is another story.
From todays press release: Net income attributable to AMCOL shareholders, adjusted for the unusual items mentioned above, was $1.57 per diluted share for the twelve months ending December 31, 2010 and $1.11 per diluted share for the comparable period ending December 31, 2009.