|From: pmony (Rep: 429) reply to pmony||Date: 06/18/2012 09:34|
|Forum: Global-Tech Appliances - Msg #413||Thread #673392278 (Rec: 0) |
|Got WAY Cheap $7 share below CASH 700K Float Re: Back in Buy Zone.. A Hong Kong Co. in biz 1963 Listed on exchanges for 15 Yea...|
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| Reply to pmony - Msg #411 - 05/01/2012 12:02|
Back in Buy Zone.. A Hong Kong Co. in biz 1963 Listed on exchanges for 15 Years just needs attn some TLC & Vol of course lol...
Up a Dollar on 5K shares since yesterday s/b double digits April 6 PR Global-Tech Advanced Innovations Inc. (NASDAQ:GAI - News) today announced its financial results for the fiscal quarter ended December 31, 2011 (the Company’s third quarter of fiscal 2012).
Net sales for the third quarter of fiscal 2012 were $44.2 million, an increase of approximately 81% when compared to $24.4 million for the corresponding quarter in fiscal 2011. Net sales of electronic components and revenues from electronic manufacturing services (EMS) increased approximately 33% and 19%, respectively, compared to the corresponding quarter in fiscal 2011, while sales of home appliances (primarily floor care products) nearly tripled due to the Company’s planned exit from this business segment in the fourth quarter of fiscal 2012 and the related increase in purchase orders from customers seeking to increase their inventory. Net income for the third quarter of fiscal 2012 was $3.3 million, or $1.09 per share, compared to a net loss of $1.5 million, or $0.48 per share, for the third quarter of fiscal 2011.
CASH position 38.3 Million dollars & net tangible equity after debt = 81.8 Mill $$$$
Current Market Cap 19 Million Dollars
Mr. Sham concluded, “Our assets, particularly our liquid resources, continue to increase and, as of December 31, 2011, on a per share basis, far exceed the current trading price of the Company’s stock. We believe we can use resources previously dedicated to the home appliance segment more effectively by reallocating these resources and the efforts of the Company’s management and employees towards business opportunities that we believe will provide better margins and positive returns on investment.”
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