seems to me that ORN is tied up on virtually every revenue front right now and waiting for any sign of relief. THe economy, a lousy COngress that wont pass anything related to spending --- even 'good' spending, and the fix it later approach that has broken so much of the nations infrastructure. DEmand is clearly there for ORN's services. Money and political posturing will hold up ORN until the election in my opinion. But I would then expect many of the unknowns to its future revenue streams to be opened up. One good thing from this, and maybe the only one, is that ORN appears to have aligned its cost structure to its current revenue outlook. THat said, once future projects come on board, ORN will be poised to drop a lot of those revenue dollars to the bottom line as I do believe pent up demand will create a lot of volume at likely nice margins as the industry is shedding capacity at a time of future blowout demand
I'll respond to my own post --- still wating for good news. Best thing stated was that orders are up based on previous quarter and that demand for there services is actually up. Washington gridlock seems to be the biggest culprit ---- but the projects these guys do ultimately require the same type of approach that a leaky roof does. Wait at your own peril, but the problems are not going away --- so demand for this is only building as time ticks by. With stock price so depressed, it is time to accumulate and wait
Much of their "cash" is in accounts receivable. That's worrisome, should we see the type of shutdown the FAA went through in ORN's markets. We may not see a real budget until the voters have a chance to weight in on how to deal with the deficit--which means we may not see a real budget until after the Nov. 2012 election. I don't think the results of the election matter much for ORN, but the holding pattern for now is painful.
For those with the stomach and the patience for it, I think there is alot of upside here, for all the reasons mentioned.