EDAC IS UNDERVALUED
Because I haven't heard about it anywhere else (ie. in posts, news, etc.), let me direct your attention to EDAC's latest SEC filing, a Form 8-K/A (Amendment to 8-K of June 30, 1998). www4.edgar-online.com. It contains the individual and condensed company financial statements for the 6 months ending 7/4/98, for both EDAC and the company it acquired, Apex. The per share earnings for this period jump from previously reported .29 cents, to .41 cents a share.
It would appear that this is not being reflected in the share price, and it suggests (the financials for Apex), that the per share earnings going forward should be greater as well. At .41, EDAC has, in its first 2 quarters, surpassed its per share earnings for all 4 quarters of 1997.
I look forward to seeing the company's 3 quarter results, which I believe will be released in early October.