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   Technology StocksEDAC--What's up with these guys?


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To: Richard L. Williams who wrote (2)3/3/1998 1:02:00 PM
From: Thomas F. Knight
   of 17
 
Dear Richard,

If you examine the graph of this stock's performance over the past year, note that it has experienced periodic pull-backs, but more interesting is to examine what can been seen from their financial statements.
If you look at the company over its history (I beleive that financial statements exist on it back into the late 1980's, it has only become profitable in the past year or two. The advantages that it holds over other stocks that I've seen on SI is inherent in that fact. EDAC is not a newcomer to the world, and is actually a company with real products and established clients, unlike the fly-by-night operations that are "investment opportunities," offering stock, but no real company. I have examined the financial statements that are available from EDGARS, etc. and it appears to me that a number of individuals hold large positions in this company, including an institutional investor and a bank. Also, I beleive that there are less than 4 million shares outstanding, another good sign. This may account for the relatively small float and volume. Anyhow, I disagree with the person who beleives that this stock will suffer a significant pull-back in the near future. In early January, I think it went down to around $7 for a few days, but given the current and just released 4th Quarter report, I see EDAC continuing to grow as a company, and I see its stock price going up as well.
I would attribute the "lack of news," to a company that is concerned with more important things; operating well, and turning a profit, not in trying to manipulate its stock prices; to me this is the sign of a solid company. Always remember that too much news is often bad news; a shell company with no products or value can set up a PR firm and sell stock all day long, but only a growing and diversified company such as this one can succeed over the long-term.
The following is a copy of their earnings released 3/3...

EDAC Technologies Reports 4th Quarter/Year End Results; Net Income, Earnings Per Share Set Records for Year

FARMINGTON, Conn.--(BUSINESS WIRE)--March 3, 1998--EDAC
Technologies Corporation (NASDAQ SmallCap: EDAC), which designs and
manufactures tools, fixtures, special machines, jet engine components
and spindles, today reported record results for the fourth quarter and
year ended December 31, 1997.

Fourth quarter net income was $666,000, or 16 cents per diluted
share, compared to a loss of $23,000, or one cent per diluted share
for the comparable period of 1996. Sales for the quarter rose to
$9,975,000 from $7,418,000 for the same period of 1996.

Net income for the year climbed to a record $1,696,148, or 43
cents per diluted share, approximately 240 times the net income of
$7,077 or less than one cent per diluted share, for 1996. Sales rose
26.4 percent, to $38,229,389 for 1997 from $30,249,085 for the prior
year.

Edward J. McNerney, EDAC's president and CEO, attributed the
company's recent gains to successful business strategies implemented
by a new management team that joined EDAC in 1996 and 1997. "We have
created four distinct business units, focused on growth and
profitability, invested in state-of-the-art manufacturing equipment
and increased production capacity. These strategies, coupled with our
implementation of the employee-empowered management philosophy of
Kaizen, or continuous improvement, have enabled EDAC to move from a
net loss of more than $1 million for 1995 to this year's record
earnings," McNerney said.

Noting that revenues for the Large Machining and Precision
Engineered Components business units increased 99.7 percent and 31.5
percent respectively, McNerney attributed the gains in part to
"productivity improvements that have been realized from implementation
of lean thinking concepts" as well as "improved quality, delivery and
lower total cost."

"We are encouraged by the excellent outlook for our markets. The
Aerospace market remains strong, and we are participating in new
long-term aerospace projects with life cycles out to the year 2027.
We are also pleased that during the fourth quarter of 1997, we added
a number of new non-aerospace customers including Gillette, SVG and
Kamatics, who service consumer, semiconductor and industrial bearings
markets.

"We anticipate strong sales and increased market share for our
products in 1998 and beyond," McNerney concluded.

EDAC Technologies Corp., also known as Gros-Ite Industries,
primarily offers design and manufacturing services for the aerospace
industry in areas such as jet engine parts, special tooling, equipment
and gauges and components used in the manufacture, assembly and
inspection of jet engines. Gros-Ite Spindle specializes in the
design, manufacture and repair of precision spindles, which are an
integral part of numerous machine tools which are found in virtually
any type of manufacturing environment.

Certain matters described in this report are forward-looking
statements and are subject to risks and uncertainties that could cause
actual results to differ materially from those projected.

EDAC TECHNOLOGIES CORPORATION
Consolidated Statement of Operations

For the Three Months Ended For the Year-Ended

12/31/97 12/31/96 12/31/97 12/31/96

Sales $9,975,000 $7,418,000 $38,229,000 $30,249,000

Net income 666,000(a) (23,000) 1,696,000(a) 7,000

Diluted Earnings
Per Share $.16(a) ($.01) $.43(a) $.00

Weighted average
number of Shares and
Equivalent Shares
Outstanding 4,038,187 3,873,049 3,980,133 3,799,951

(a)Due to prior year losses, EDAC was required to provide only minimum
income taxes in 1996 and 1997. EDAC anticipates providing for income
taxes at a rate of 32 percent in 1998. Pro forma earnings for the
year and fourth quarter ended Dec. 31, 1997, assuming the company had
been required to provide income taxes at 32 percent, would have been
$1,153,000 or 29 cents per share and $453,000, or 11 cents per share,
respectively.

CONTACT:

Ronald G. Popolizio, CFO

860/677-2603

KEYWORD: CONNECTICUT

BW1184 MAR 03,1998

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To: Thomas F. Knight who wrote (3)3/3/1998 1:13:00 PM
From: Richard L. Williams
   of 17
 
Fletch--
Thank you for the analysis and the news story--looks like I might have to wait a long time for a pull back of any great size.

What I find puzzling is the lack of activity today, given the long and interesting news story that came out. A stealth stock, but one with some real substance to it!

Thanks again, Fletcher!

Rick

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To: Richard L. Williams who wrote (4)3/3/1998 2:51:00 PM
From: Thomas F. Knight
   of 17
 
Rich,

I think we may see some profit taking at @10 today for individuals that have decided to get out at double digits.

Fletch

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To: Thomas F. Knight who wrote (5)3/4/1998 11:28:00 PM
From: Richard L. Williams
   of 17
 
And more profit taking today...I'd hate to see this stock slide back to 2 1/4 in the next few months, but that seems to be the way things go these days. Money is very restless.

Now Intel has pre-warned, and INTC is looking to nose-dive 20+ points at the open tomorrow. Blood in the streets is not good for any body, might even spill over to other sectors.

Might be a good time to be in CASH.

Cheers!
Rick

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To: Richard L. Williams who wrote ()4/9/1998 4:03:00 PM
From: Thomas F. Knight
   of 17
 
Hi All,
EDAC Technologies Begins to Begin Trading On Nasdaq National Market System....

Things look good for EDAC; their stock price has begun to rise again, while they are not trying to "advertise" themselves the way that a lot of companies tend to do when they lack fundamentals. Instead, they are proving that their fundamentals are strong.

As evidence consider this:

EDAC Technologies Begins to Begin Trading On Nasdaq National Market System
10:23 a.m. Apr 07, 1998 Eastern

FARMINGTON, Conn.--(BUSINESS WIRE)--April 7, 1998--EDAC Technologies Corporation, which designs and manufactures tools, fixtures, special machines, jet engine components and spindles, announced today that its common stock, currently traded on the NASDAQ SmallCap Market, has begun trading on the NASDAQ National Market System effective today, April 7, 1998. The stock will continue to trade under the symbol EDAC.

Edward J. McNerney, EDAC's president and CEO, noted that EDAC was accepted for listing after meeting the more stringent criteria of the NASDAQ National Market. "This listing recognizes EDAC's continued growth and financial progress, and should benefit both our shareholders and the investment community through heightened visibility and liquidity," McNerney said.

EDAC Technologies Corporation, also known as Gros-Ite Industries, primarily offers design and manufacturing services for the aerospace industry in areas such as jet engine parts, equipment and gauges, special tooling and components used in the manufacture, assembly and inspection of jet engines. Gros-Ite Spindle specializes in the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools which are found in virtually any type of manufacturing environment.

Copyright 1998, Business Wire

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To: Richard L. Williams who wrote ()9/18/1998 4:52:00 PM
From: Thomas F. Knight
   of 17
 
Hi All,
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.

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To: Thomas F. Knight who wrote (8)9/18/1998 11:56:00 PM
From: Richard L. Williams
   of 17
 
Fletch--
Sadly, the market is ignoring many good stocks out there these days. I have been watching EDAC get killed for no real reason, and it makes me feel better about my own stocks.

Face it, if you ain't YHOO, your stock isn't going anywhere these days.

Rick

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To: Richard L. Williams who wrote (9)11/25/1998 1:42:00 PM
From: M Allen
   of 17
 
EDAC Technologies Reports Third Quarter/Nine Months Results

Year-to-Date Pre-Tax Income Rises 129.4%, Sales up 32.7%

FARMINGTON, Conn.--(BUSINESS WIRE)--Oct. 30, 1998--EDAC Technologies Corporation (NASDAQ NMS: EDAC - news), which designs and manufactures tools, fixtures, special machines, jet engine components, injection molds and spindles, today reported results for its third fiscal quarter and nine months ended Oct. 3, 1998.

Third quarter net income was $279,625, or six cents per diluted share, compared with net income of $511,701, or 12 cents per diluted share for the third quarter of 1997. Sales for the third quarter of 1998 increased 50.6 percent, to $14,163,423, from $9,402,761 for last year's third quarter.

Net income for the nine months rose to $1,602,280, or 36 cents per diluted share, from net income of $1,030,080, or 24 cents per diluted share for the corresponding period of 1997. Nine-month sales were $37,495,437, up 32.7 percent from sales of $28,254,482 for 1997's first nine months.

The company reported a 129.4 percent increase in pre-tax income for the nine months, attributable in part to ongoing diversification of its customer base and the benefits of its continuing implementation of lean manufacturing techniques.

Commenting on the decline in third quarter net income, Edward J. McNerney, EDAC's president and CEO, said, ''We were affected adversely by a postponement, beginning at the end of August, of $3.7 million in orders scheduled for delivery in the third and fourth quarters to a major aerospace customer negatively affected by the Asian financial crisis. Delivery of those orders has been moved to 1999.

''We also incurred costs related to capital improvements at our Apex Machine Tool Company, which EDAC acquired in June 1998. Apex did not contribute significantly to results during the third quarter because of insufficient backlog in the months preceding the acquisition. Orders now have strengthened to a level that will generate satisfactory results for the fourth quarter, and Apex is maximizing its potential through the implementation of lean manufacturing techniques.

''We are very optimistic about the fourth quarter, based on the number of new accounts we are generating from our aggressive marketing efforts; the growing diversity of our customer base and strength of our existing markets; and our participation in new engine and aircraft programs. We are also beginning to realize the economic benefits of stringent cost control programs.''

EDAC Technologies Corporation's Gros-Ite Industries division primarily offers design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment and gauges and components used in the manufacture, assembly and inspection of jet engines. Gros-Ite Spindle specializes in the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools which are found in virtually any type of manufacturing environment. Apex Machine Tool Company is manufacturing diversified, high-precision fixtures, gauges, dies and molds.

Certain matters described in this report are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

EDAC TECHNOLOGIES CORPORATION
Financial Highlights (Unaudited)

For the Three Months For the Nine Months
Ended (a) Ended (a)
10/3/98 9/30/97 10/3/98 9/30/97

Sales $14,163,423 $9,402,761 $37,495,437 $28,254,482

Net income 279,625 511,701 1,602,280 1,030,080

Earnings per
share (b)
Basic $.07 $.12 $.38 $.25
Diluted $.06 $.12 $.36 $.24

Weighted average
shares (b)
Basic 4,261,580 4,215,429 4,239,447 4,176,318
Diluted 4,491,149 4,380,091 4,505,544 4,334,208

(a) The company changed its quarter-end dates beginning with the
first quarter of 1998. Quarter-end dates for 1998 are April
4, 1998, July 4, 1998, Oct. 3, 1998, and Jan. 2, 1999. This
change did not result in a material difference for the third
quarter or first nine months of 1998.

(b) Adjusted for 10-percent stock dividend paid July 1, 1998.

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From: MikeS977073/23/2007 9:06:07 PM
   of 17
 
For those that are interested, there is an EDAC board over on Investors Hub. Here is a link:

investorshub.com

Mike

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From: MikeS977074/5/2007 12:33:10 AM
   of 17
 
EDAC Technologies Corporation Reports Highest Quarterly Sales in Six Years
Wednesday April 4, 6:41 pm ET

FARMINGTON, Conn., April 4 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported its highest quarterly sales in six years. First quarter sales for 2007 were $12.3 million, representing an increase of $1.5 million over the preceding quarter and an increase of $2.7 million over the first quarter of 2006. EDAC's sales backlog at March 31, 2007 was $31.6 million. In addition to its backlog, as previously announced, the Company has a letter of intent from a customer to purchase approximately $4.5 million of jet engine parts. This order will be added to the Company's backlog when the related purchase orders are issued and accepted. EDAC currently has budgeted over $3.7 million primarily for additional machinery and equipment scheduled for delivery in 2007, to support its Precision Aerospace product line. Dominick A. Pagano, President and Chief Executive Officer, commented, "The Precision Aerospace product line has again showed strong improvement over the previous quarter. Our first quarter sales for 2007 were the Company's highest quarterly sales since the first quarter of 2001. We will continue to pursue the aerospace and other opportunities for all of our product lines."

About EDAC Technologies Corporation

EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.

Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.

Contact:
Glenn Purple
EDAC Technologies Corporation
860-679-7418

--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation

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