t*******o
发帖数: 1464 | 1 谁帮我FA一下这个ER report？我没买，眼睁睁看着他前天从3.6上来的，但想着这个股
还可以搞搞。
ER 看上去不错。一个专门做军火的，受到经济影响大吗？去年这时候他基本面我觉得
比现在烂，都能有7块钱。是不是有点上升空间？ 上周放量是一个机构持有者
sell out，有人能把这么大盘子接住，总的垃拉吧。这个股没什么散户在玩。TA上看日
线，周线都是蛮好的，我觉得上面一块钱的区域没什么阻力。
http://money.cnn.com/news/newsfeeds/articles/prnewswire/200908131600PR_NEWS_USPR_____NY61375.htm
VIENNA, Va., Aug. 13 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc
. (NYSE Amex: ADG), a multinational defense company focused on the
manufacture, sale and distribution of ammunition and ammunition-related
products for use by the U.S. and foreign governments, today announced
results for the quarter ended June 30, 2009.
Highlights:
* Revenue of $47.4 million, an increase of 18% over the second quarter
of 2008
* Net income of $1.2 million compared to net income of $0.9 million
during the second quarter of 2008
* EBITDA* from continuing operations of $3.4 million
* Funded, committed backlog of $117.9 million as of June 30, 2009
"We have achieved two significant milestones; divesting our last non-core
business this month and achieving profitability in the second quarter," said
Major General (Ret) John J. Marcello, President and Chief Executive Officer
of The Allied Defense Group. "Our decisions to focus on our core competency
in ammunition, rid ourselves of expensive debt, take action to improve the
efficiency of our operations and manage our working capital have delivered a
transformed business poised to capitalize on the tremendous opportunities
ahead of us."
Business Segment Details:
Mecar SA
* Revenue of $23.0 million, a decrease of 28.2% from the second quarter
of 2008
* Backlog of $90.8 million as of June 30, 2009
Mecar USA
* Revenue of $24.4 million, an increase of $16.1 million over the second
quarter of 2008
* Backlog of $27.1 million as of June 30, 2009
Second Quarter Summary
Revenue was $47.4 million in the second quarter of 2009, up 18% over the
same period of 2008. Gross margin was 15% in the second quarter of 2009,
compared to 17% for the same period in 2008. Lower gross margins in the
current quarter resulted from higher sales activities at Mecar USA, a
business that, in general, has lower margins than Mecar SA.
Net income from continuing operations was $2.0 million in the second quarter
of 2009, compared to a net loss of $0.7 million during the same period of
2008. Diluted earnings per share from continuing operations were $0.24 in
the second quarter of 2009, compared to a loss of $0.09 during the same
period of 2008. EBITDA from continuing operations was $3.4 million in the
second quarter of 2009, compared to $2.8 million during the same period of
2008.
Results from continuing operations in the current period were positively
impacted by a $1.2 million gain associated with Mecar SA's forward exchange
contracts. As compared to the year-ago period, selling and administrative
expenses declined by 14%, or $0.7 million and interest expense declined by
56%, or $1.3 million. The reduced operating expense reflects the transition
of the Company to an ammunition-focused business. The reduced interest
expense resulted from the full repayment of the Company's senior secured
convertible notes in January 2009.
Six-Month Summary
Revenue was $78.9 million for the six months ended June 30, 2009, up 18%
over the same period of 2008. Gross margin was 15% for the six months ended
June 30, 2009, compared to 19% for the same period in 2008.
Net income from continuing operations was $0.6 million for the six months
ended June 30, 2009, compared to a net loss of $3.4 million during the same
period of 2008. Diluted earnings per share from continuing operations were $
0.07 for the six months ended June 30, 2009, compared to a loss of $0.42
during the same period of 2008. EBITDA from continuing operations was $5.0
million for the six months ended June 30, 2009, compared to $4.9 million
during the same period of 2008.
As of June 30, 2009, the Company's firm committed backlog was $117.9 million
, compared to $149.4 million as of June 30, 2008.
Cash Flow
At June 30, 2009, the Company had $1.7 million of cash on hand. This is down
$178,000 from March 31, 2009.
The Company used $8.9 million of cash in operating activities during the six
months ended June 30, 2009 as compared to $20.0 million of cash used during
the same period of 2008. Despite an 18% increase in revenue, the cash used
from operations during the current period was reduced mainly as a result of
lower working capital requirements associated with Mecar USA.
Cash used in investing activities was $0.3 million during the six months
ended June 30, 2009 as compared to $1.4 million generated during the same
period of 2008. Cash provided by financing activities was $2.2 million
during the six months ended June 30, 2009 as compared to $9.1 million
generated during the same period of 2008. The reduction in cash provided by
financing activities stemmed from lower revolving credit borrowings in the
current period at Mecar SA.
"We have carefully managed our cash during the first six months of 2009,
including discounting letters of credit and obtaining bank overdraft loans,"
said Debbie Ricci, Chief Financial Officer of The Allied Defense Group. "We
will continue to take these steps until we secure appropriate working
capital solutions." |
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