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Dynamic Materials Corporation, (Nasdaq: BOOM), 'DMC', today announced third quarter 1997 net income of $462,921 or $0.16 per share versus 1996 third quarter results of $441,318 which also yielded $0.16 in per share earnings. Sales for the third quarter of 1997 were $7.80 million versus $7.75 million in the third quarter of 1996.
"Our third quarter results bring year-to-date earnings up to $0.56 per share and we are proud of this accomplishment," said Paul Lange, president and chief executive officer. "While we received fewer orders in the third quarter than we would have liked, the number of inquiries for new projects is returning to a comfortable level." Lange continued, "Our present backlog indicates that sales for the fourth quarter will fall below the third quarter and well below sales from the year-ago fourth quarter. The anticipated decline in fourth quarter sales reflects both the cyclical nature of our business and the impact of large orders on quarter-to-quarter sales performance." Lange added, "Over the last couple of weeks we have booked several new orders. However, these orders are not scheduled to ship until the early part of 1998 and thus will not benefit the Company in the fourth quarter." Lange concluded, "The market for clad plate appears to be active right now and we are optimistic about our ability to compete both domestically and internationally for future projects."
Yes Penny it is unforunate the way this company has gone down hill. I originally bought into the company because of the fast growth rate. Now I realize that must have been luck. It appears as if they sit back and wait to answer the phone....hoping its an order. They need to develop a strategic plan. I thought they would use their cash to do some aquisitions and grow revenues year over year. Everytime they report earnings and the managment makes statements the shareholder value drops. I didn't see anything that would indicate that they would become more aggressive to eliminate some of the cyclinical nature of their core business.
Maybe we'll get lucky and a company with more ability to grow shareholder value will aquire BOOM.
I have been following BOOM for several weeks. I saw accumulation start two weeks ago. The IBD ranks are 88, 62, B. The annual Earnings growth is 120%. VERY small float. My TC2000 charts looked good but would not expect continued growth after these past two days of run up.
Short but sweet, any more acquisitions are expected to be accreative, looking for analyst coverage, Boeing is impressed with the company and has been reccommending them (they have a 100% on time record with 0 defects)