Commenting on the results, Mr. Eitan Livneh, President and CEO of Magal, said, "I am very proud of our 2011 results, which reflect strong improvement across all financial parameters. We achieved an all-time record in revenues and net income, generating significant positive operating cash flow of $20.4 million."
Continued Mr. Livneh, "Our success is the result of the strenuous efforts we have made over the past two years in transitioning Magal into a leader in delivering full-scale homeland security projects. Our two-pronged strategy is to strengthen and build on our market leadership in PIDS products, while at the same time establishing a strong local presence in various key geographic areas. A recent example of this strategy can be found in our announcement concerning our new joint venture in India. Our now exceptionally strong balance sheet, with $32.5 million in net cash, opens many new growth avenues for us enabling both organic investments and synergistic acquisitions."
While you dawdle on your Happy Bus wearing your rosy glasses and tin foil hat while waiting for it to transform into a rocket any year now, this little chicken was pecking at ABCD since last Friday while continuing to scout for the right time to reenter EFGH. I prefer smoothly ascending elevators in which the only question is whether THIS is the top, not whether THIS is the bottom. You should try one sometime.
Ownership: Despite quadrupling since January, short squeeze potential remains as 30% of float is still short.
Peter Lynch buy-what-you-know principle: Have been a highly satisfied subscriber for 8 years.
News: So there I was on Thanksgiving afternoon reading my NY Times while waiting for the not-a-chicken to reach 160 deg, and I see a glowing story on the front page saying that it is a growing threat to both cable providers and movie studios after announcing unlimited downloads of films and TV for $8/month.
Ownership: Continuing short squeeze potential as 30% of float is still short.
Peter Lynch buy-what-you-know principle: I'm a highly satisfied subscriber for 8 years.