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Impac Mortgage Holdings Inc. Message Board

roamingmann 12 posts  |  Last Activity: Dec 3, 2014 10:29 PM Member since: Oct 24, 2001
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  • Reply to

    Posting Disappeared

    by jdm1234567892002 Dec 3, 2014 6:45 PM
    roamingmann roamingmann Dec 3, 2014 10:29 PM Flag

    That was me. Sorry. After I received a stupid reply (surprise!), I deleted the post. It was all true, 15% decline in revs and a 44% decline in earnings. I found the answer in the 10Q on Edgar. Here's the excerpt from the statement:

    "Cost of Product Sold. Cost of product sold is primarily comprised of pet coke expense and freight and distribution expenses and purchased ammonia costs. Cost of product sold (exclusive of depreciation and amortization) for the nine months ended September 30, 2014 was $56.6 million, compared to $39.2 million for the nine months ended September 30, 2013. The $17.4 million increase resulted from $19.0 million in higher costs from transactions with third parties, partially offset by lower costs from transactions with affiliates of $1.6 million. The higher third-party costs incurred during the nine months ended September 30, 2014 were primarily the result of ammonia purchases (approximately 30,000 tons for the nine months ended September 30, 2014 and 5,000 tons in the nine months ended September 30, 2013) and increased railcar repairs and inspections.

    "Direct Operating Expenses. Direct operating expenses include costs associated with the actual operations of our plant, such as repairs and maintenance, energy and utility costs, property taxes, catalyst and chemical costs, outside services, labor and environmental compliance costs. Direct operating expenses (exclusive of depreciation and amortization) for the nine months ended September 30, 2014 were $77.2 million as compared to $70.7 million for the nine months ended September 30, 2013. The $6.5 million increase resulted primarily from higher utilities ($4.3 million), refractory brick amortization ($2.1 million), catalyst amortization ($0.6 million), partially offset by lower insurance ($0.8 million). The increased utility costs were largely due to higher electrical volumes."

    I still don't like the answer. Why are "transaction costs" so high?

  • Reply to

    CEO WOLFSON needs to be sacked!!!!!!!

    by rside1948 Nov 17, 2014 2:40 PM
    roamingmann roamingmann Nov 18, 2014 5:20 PM Flag

    Remember, Wolfson's #$%$ l#$%$wyer, not #$%$ businessm#$%$n.

  • Reply to

    Looking Ahead

    by stevegrogan04 Nov 6, 2014 7:22 PM
    roamingmann roamingmann Nov 6, 2014 8:14 PM Flag

    People did see this coming. Many on this board expressed concerns, but were attacked by the hope and dreamers wearing rose colored glasses.

    The problem now is valuation. The company guided next year's revenue at around $70 mil. At today's market cap that's 2.5 times REVENUE. What's the cash flow on $70 mil? This company has some serious financial problems. But I think Wolfson knew that all along. That's why he was selling as many shares as he did. I don't trust that guy. I have a huge tax loss for this year.

  • roamingmann roamingmann Nov 6, 2014 5:03 PM Flag

    You're having fun "downvoting" David's posts, and he's having fun making money on his short. Tell me, who's having MORE fun?

  • Reply to

    Motley Fools

    by allamericnman Nov 6, 2014 11:50 AM
    roamingmann roamingmann Nov 6, 2014 12:48 PM Flag

    I bought two of their recommendations at the same time, SWIR and SZYM. You know what's happening to SWIR, but check out SZYM today. They're not so great.

  • Reply to

    I'm In! Been watching this one for about a year.

    by deepsea21 Nov 2, 2014 4:14 PM
    roamingmann roamingmann Nov 4, 2014 2:03 PM Flag

    I should have said AROUND Feb. Look at the chart history. The stock goes up in the spring and down in the fall, has for years. In the spring the farmers fertilize and sow seed. That's when we make our money.

  • Reply to

    I'm In! Been watching this one for about a year.

    by deepsea21 Nov 2, 2014 4:14 PM
    roamingmann roamingmann Nov 3, 2014 11:53 PM Flag

    This stock is dead money for 3 months. Nothing happens until Feb. There are better places to investment short term.

  • roamingmann by roamingmann Oct 10, 2014 3:01 PM Flag

    Passport Capital owns over 10%. Someone's buying.

  • Reply to

    here is the news

    by surleproduit Oct 9, 2014 5:24 PM
    roamingmann roamingmann Oct 9, 2014 5:27 PM Flag

    David Cole fired.
    finance.yahooDOTcom/news/solazyme-announce-third-quarter-2014-211800748.html

  • Reply to

    GTAT

    by asenarens Oct 6, 2014 12:02 PM
    roamingmann roamingmann Oct 6, 2014 10:48 PM Flag

    What about Bunge? I understand that Bunge is not a customer, but SZYM has a dependent relationship with them. Similar to what GTAT had with Apple.

  • Reply to

    GTAT

    by asenarens Oct 6, 2014 12:02 PM
    roamingmann roamingmann Oct 6, 2014 7:28 PM Flag

    There are a lot of similarities between GTAT's management style and SZYM's management style:
    - automatic stock sales
    - flawed projections
    - not revealing critical information
    - relying too much on business partnerships
    I hope we don't have a similar outcome.

  • roamingmann roamingmann Sep 26, 2014 3:18 PM Flag

    Putin will not yield. Ever. He's a thug. He is now shifting business from Europe to China. Once, he completes the transition, then Europe is the one that will fall into recession, not Russia. This situation will go on for years, if not decades. I just don't know what's going to happen to Seadrill. I will say, I'm very concerned.

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