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American Locker Group Inc. Message Board

  • bskptkl bskptkl Nov 12, 2009 10:29 AM Flag

    tax refund announced

    1.4 million in 60 days works out to .88 per share...
    Good job management, to say the least.

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    • from the recently released 2008 10K:

      "On November 6, 2009, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 (HR 3548) into law. The law includes a provision that will allow the Company to carryback its net operating loss for federal income tax purposes from 2008 for up to five years and obtain a refund to the extent that taxes were paid in the previous five years. As a result of this law, the Company anticipates receiving a refund in the amount of approximately $1,400,000 during the first quarter of 2010."

    • Now we wait and see for the refund to arrive and they get current on filings so we can see the damage of the last 12 moths since they last filed. Looks good to me BUT just dont know how bad it got the past year and now that they have some breathing room with the refund, where the business is at fundamentally. Obvious construction is in the toilet and maintenance budgets are slashed so mailbox and locker sales must be a soft market. Ill be a buyer if the filings show they are breakeven or at a small substainable loss then I know they can survive until the construction market turns around. Plus they are rent free due to the building sale but then that means they have to move which for a manufacturer is a huge undertaking.