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


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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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From: MikeS977075/2/2007 12:07:55 AM
   of 17
 
EDAC Technologies Reports Record Quarterly Operating Profit
Monday April 30, 6:04 pm ET

FARMINGTON, Conn., April 30 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported record results for the first quarter of 2007.

Sales for the first quarter of 2007 were $12,316,000 and net income was $781,000 or $0.16 per diluted share, versus sales of $9,596,000 and net income of $293,000 or $0.06 per diluted share for the first quarter of 2006. Income from operations increased to $1,430,000 in 2007 from $611,000 in 2006. The first quarter of 2006 included costs of $226,000 associated with expansion of our manufacturing capacity by approximately 24,000 square feet and other non- recurring expenses.

Dominick A. Pagano, President and Chief Executive Officer, said, "We are very pleased with the continued strong results. Our operating profit for the first quarter was the highest in our history. Total backlog increased from $28,800,000 at the end of the fiscal 2006 to $31,600,000 at the end of the first quarter. As recently announced, our first quarter sales were our highest quarterly sales in six years. Sales increased $2,751,000 in our Precision Aerospace product line for the first quarter 2007 compared to the first quarter 2006. Our 2007 capital plan includes over $3.7 million in machinery and equipment additions to increase productivity and production capacity. Through the first quarter we have invested over $579,000 in machinery and equipment and have made commitments for an additional $1 million. We've made these investments to meet our sales backlog requirements and to further position us for future growth. We will continue to pursue opportunities that will strengthen EDAC for the long term."

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 L. Purple
Vice President-Finance
860 677-2603

EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED

For the quarter ended
March 31, April 1,
2007 2006
Sales $12,315,638 $9,595,579

Cost of Sales 9,968,094 7,970,934

Gross Profit 2,347,544 1,624,645

Selling, General and Administrative Expenses 917,625 1,013,865

Income From Operations 1,429,919 610,780

Non-Operating Income (Expense):

Interest Expense (194,436) (153,399)
Other 4,795 14,388

Income Before Income Taxes 1,240,278 471,769

Provision for Income Taxes 459,000 179,000

Net Income $ 781,278 $ 292,769

Income per common share data:
Basic income per share $0.17 $0.06
Diluted income per share $0.16 $0.06

Weighted average shares outstanding:
Basic 4,532,687 4,506,145
Diluted 4,829,478 4,791,735

EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) (Audited)
March 30, December 30,
2007 2006
ASSETS
CURRENT ASSETS:
Cash $637,441 $925,197
Accounts receivable, net 7,215,186 7,331,226
Inventories, net 8,632,477 8,234,866
Prepaid expenses and other current assets 244,227 56,438
Refundable income taxes 140,650 140,650
Deferred income taxes 211,394 211,394
Total current assets 17,081,375 16,899,771

PROPERTY, PLANT AND EQUIPMENT 31,225,772 30,646,744
Less: accumulated depreciation 20,873,938 20,315,938
10,351,834 10,330,806

DEFERRED INCOME TAXES 1,022,786 1,248,786

OTHER ASSETS 80,292 86,001
TOTAL ASSETS $28,536,287 $28,565,364

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Revolving line of credit $850,000 $ 1,000,000
Current portion of long-term debt 1,926,779 1,895,436
Trade accounts payable 4,541,348 4,806,090
Employee compensation and amounts withheld 1,454,907 1,511,820
Accrued expenses 509,640 355,415
Customer advances 55,377 120,767
Total current liabilities 9,338,051 9,689,528

LONG-TERM DEBT, less current portion 7,586,279 8,081,720

OTHER LONG-TERM LIABILITIES 163,981 163,981

SHAREHOLDERS' EQUITY:
Common stock 11,345 11,316
Additional paid-in capital 9,567,222 9,530,688
Retained earnings 3,352,450 2,571,172
Accumulated other comprehensive loss (1,483,041) (1,483,041)
Total shareholders' equity 11,447,976 10,630,135

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $28,536,287 $28,565,364

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

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To: MikeS97707 who wrote (13)7/19/2007 12:44:23 PM
From: AIR2
   of 17
 
I have studied this company and have it on my watch list. I think they are very compelling and I like the low shares outstanding. I would like to hear more about their plans for growth. I do not think without some decent top line growth that they can continue the stock performance that we have seen this year.

If someone can post what plans EDAC has to grow top line I would be interested and maybe compelled to buy.

Another company that I do own and like in this sector is Air Industries Group AIRI, they recently changed their name from Gales Industries GLDS. They used to have a message board at yahoo under the old symbol but I can not find a board yet under the new symbol. This company has great fundamentals, but you need to dig a bit to find the story. I would call the company or PR guy to start. Jordan M. Darrow, 631-367-1866
jdarrow@darrowir.com

If someone at SI can post a new board under that symbol, I would be happy to fill in with some valid info.

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From: MikeS977075/2/2008 12:47:49 AM
   of 17
 
A more active EDAC board is located on iHub. It can be found here:

siliconinvestor.com

Mike

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From: JakeStraw8/11/2011 9:38:00 AM
   of 17
 
EDAC Offers Investors Huge Upside, A Potential Double
seekingalpha.com

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To: JakeStraw who wrote (16)12/23/2012 4:39:24 PM
From: LT-Optimist
   of 17
 
Any thoughts from BULLS and BEARS out there about EDAC at current price ~$12?

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