Ha. They added AVD to the Strong Sell list again today. Whatever.
Saw an interesting post from Applied Machines on Facebook and Twitter.
Hurco Companies Inc. - Pictures of the Hurco Assembly line in Indianapolis, IN - USA. Hurco is increasing the production of Machines they build here in the USA!!!!! Building Machine Tools where the technology is developed. With their Headquarters in Indianapolis, it only makes sense to build the machines where Gerald Roch and the late Edward Humston founded Hurco in 1968.
Hope you are right, but there is still quite a bit of overhead resistance between 13 and 13.50. I think it will take a decent earnings report and favorable forecast to get us through there. Earnings should be around May 2 or so.
Yes, the 50,000 priced at $15.49 could be exercised and actually must be exercised by Aug. 20, 2015. If any options pass their expiration date and are priced below the strike price, they expire worthless. On April 2, several insiders exercised options and kept most of the shares. The notes in the filings say they only sold enough to cover the tax bill on the profits But, Rhykus still has about 200,000 that have conversion prices above $30 per share. Of course, he will be getting more grants each year and those will be priced at whatever the current share price is at the time of the grant.
Wonder if they have something cooking. $50M in cash already on the balance sheet.
SIOUX FALLS, S.D., April 16, 2015 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (RAVN) announced today that it has entered into a new five-year $125 million senior unsecured multi-currency revolving credit facility.
"This new revolving facility provides us with additional flexibility to execute our long-term strategy and pursue strategic acquisitions in the future," said Steven Brazones, Vice President and CFO. "We are pleased to have access to committed financing at very attractive rates and look forward to capitalizing on opportunities to further enhance our competitive positioning and accelerate growth, particularly within our Applied Technology and Aerostar divisions."
10Q is out now. There were some questions about the number of customers in Q3 and from the 10Q, there had to be at least 4 different customers.
Three customers accounted for approximately 47%, 12% and 10% of the Company’s net sales in the nine months ended February 28, 2015.
Interesting. No PR about how we are grateful for your service, etc.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of a Director
On April 10, 2015, the Board of Directors of Daktronics, Inc. received notice that Bruce W. Tobin is resigning from the Board of Directors effective May 1, 2015. Mr. Tobin has served as a Director and on the Audit Committee since February 2011.
I was just going though some of my notes from earlier CCs and noticed that Dominik Schmidt from QVT Financial had called in on the Q1 2015 conference call back in September 2014. Perhaps AEHR had talked to them about doing a financing prior to the private placement in November 2014, but decided they could handle that one on their own.
QVT is a very aggressive investor and has lots of biotech stocks and a few technology stocks. They have puts on ARMH (ARM Holdings) and TSM (Taiwan Semi), as well as bonds from MCHP (Microchip). They also have some bonds from Sunpower and Solarcity. If this all works out and revenues go to $200M per year, the dilution won't matter. Time to sit back and relax for a while I guess.
You can also look up QVT on the SEC site to see what they are invested in with the 13-HR filings. They own quite a few things, including a couple of biotechs that I follow. They aren't afraid to take a speculative position and this financing is small potatoes for them.
Well, my first choice would have been for them to have started shipping the new systems and not have to do the dilutive financing. The flip side though is that since we haven't started seeing the revenues yet, this should at least provide another year or two of runway to get the new products out. I think the stock may actually go up a little today. My guess is we still are 6 months away from significant revenues.
OK, I haven't heard of these guys, but they have a small article about AEHR.
biztalkinsider dot net
Aehr Test Systems: Checking the Integrity of Integrated Circuits
Posted on April 10, 2015 by admin
There is always a need for integrated circuits and wafers to be tested before they are deployed and incorporated into electronic devices. By checking on the functionality and quality of these circuits, original equipment manufacturers are assured that their end products would be of the top quality.
The testing of these devices can be costly, but thanks to Aehr Test Systems, the cost of the process is reduced and time to market of these products is enhanced. The company is a trusted developer, manufacturer and marketer of systems that are integrated on testing devices. As a global provider, it has deployed more than 2,500 systems around the world. These systems are mainly used for burning-in and testing memory of integrated circuits.
The company plays a vital role in the electronics industry and in several other verticals that require the checking IC components. Aehr Test Systems is headquartered in Fremont, California and is listed as a component of the Wilshire 5000 Index.
Just happened to find a youtube video of a precision hand soldering class for 4 technicians at AEHR, so they must be assembling something in the plant. Let's hope it's multiple machines. Not sure Yahoo will let me post the link.
My point was, I don't think they spent their own money on these shares. The 2006 S-8 filing says these are grant shares. Now, what would make me happy is to move some of these systems out the door.
1. Purposes of the Plan. The purposes of this Plan are:
• to attract and retain the best available personnel for positions of substantial responsibility,
• to provide incentives to individuals who perform services to the Company, and
• to promote the success of the Company’s business.
The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine.
Not trying to put a damper on it, but those 4 SEC Form 4 filings from Apr. 2 were for a total of about 10,000 shares at $1.95. I don't think these are open market buys. The note says they are for an ESOP and I think those shares come from the company treasury. I wouldn't expect any significant insider buying, but who knows.
1. These shares have been purchased through the Company's 2006 Employee Stock Purchase Plan, a "tax-conditioned plan" per Internal Revenue Code Section 423. This purchase is exempt from Section 16 of the Securities Exchange Act of 1934 regarding liabilities arising from six-month short-swing transactions in the Company's securities.
There are a couple of nice articles about shops using Hurco machines in the Engineering Capacity online magazine. Excerpt from one of the articles below. I also posted the full articles on the Investor Village HURC message board.
Space exists for another 20 or so Hurco VMCs in the factory and it is likely that some of the next models will be larger 5-axis machines to expand RP Tooling’s scope for 5-sided machining and interpolative profiling of 3D surfaces.
Was just looking at some of the officers options positions. I see that Rykhus has about 400,000 options and most of them are under water. 110,000 of them expire this year and are priced at $15.49 and $22.20. Most of his others (expiration dates next year or later) are priced at $30 or better, so I would assume he would like to see the share price go up also.
Business must be fairly good. They have 49 job openings on their website. 10 drivers, 15 or 20 sales reps, mechanics, etc. Doesn't sound like they are doing any belt tightening.