too bad it is controlled by Biglari so you couldn't benefit by the CBRL as much as you should have. Why wasn't the activist investor able to loosen Biglari's grip?
I would not be surprised if KTCC does really well. At the same time, several things were previously pointed out: revenue last quarter, adjusting for extra week, was actually down. Concentration of demand due to top 3 customers was actually up 70 basis points vs. same quarter last year. Eps benefited both from an extra week and a tax rate of 16.6% (at 30% eps would have been barely above low end of guidance). Being a contractor is a tough business, constantly fighting for customers. They have a nice story, and they tell it well,and their projected tax rate of 25% seems reasonable with so much production overseas.
A brief search found volumes for one hospital (heritage valley) for 2000-2009. 23% of open heart surgeries were for valve replacement, including mitral,
aortic, tricuspid and multiple valves as well as a combination of coronary artery
bypass surgeries with valve replacement. Most of open heart procedures (74%) were for coronary artery bypass only. I wish ATRI would have at least yearly conference calls.
reading CC transcript, it seems analysts are worried about increasing supply, and possibility of food costs increasing next year. La Nina, if it comes, would be a contributor. Blaming short sellers should be the last explanation, not the first.
I think amortization of intangibles makes sense for a company like Softmart. Hence, acquisition is not accretive, even excluding transition costs, and excluding CEO pay (he is leaving). I don't see how there would be revenue synergies. It will be interesting to hear their explanation, if they provide one.