You know it is good news when they lead with earnings numbers:
Thank you, Doug. And I'd like to welcome everyone to our third quarter conference call.
Earnings for the quarter rose to $9.9 million compared to $400,000 in the comparable quarter last year. Earnings per share rose to $1.21 from $0.05. Earnings year-to-date, $19.2 million versus $2.15 million last year. Earnings per share year-to-date $2.34 versus $0.26 last year.
Growth in price for YTD is better for A shares than B but this trend will likely continue because the yield for A shares is also greater. With such a double win I cannot help but wonder why B owners don't switch to B. Oh well, my profit.
I am saddened to here this. Have sold my stock. Good companies are finding new ways to succeed with American operations. There is too much greed on the part of the people at the top in this country and elsewhere.
Third Quarter Financial Highlights
Americas segment revenues increase 12%
Broadspire segment revenues increase 6%
Diluted earnings per CRDB share of $0.24, down from $0.33 in 2012
Company affirms and updates certain aspects of its full-year guidance
Crawford & Company is affirming and updating certain aspects of its full year 2013 guidance as follows:
Consolidated revenues before reimbursements between $1.13 and $1.15 billion.
Consolidated operating earnings between $95.0 and $99.0 million.
Consolidated cash provided by operating activities between $50.0 and $55.0 million.
Consolidated net income attributable to shareholders of Crawford & Company on a GAAP basis between $51.5 and $54.0 million, or $0.90 to $0.95 diluted earnings per CRDB share.
Likely one big sale, as this is thinly traded. Just hold until it is back to normal. This is a good stock. You might pick up some shares on the dip. It is already starting back up.
Why? Expected earnings growth is huge. A steady buyer may eventually want to become owner. I don't see any reason to get out now.
Sentiment: Strong Buy
Just be careful as this stock is controlled in China and many such companies sitting on a cash pile never saw any of the cash get to the stockholders. I am told that in Chinese law the stockholders have virtually no rights (to be treated what we would call "fairly").