| To: Brad who wrote (93) | 11/4/1999 11:16:00 AM | | From: Brad | | | |
Some comparisons of SCCO financial statements over the past 8 Quarters taken from their
SEC filings and press releases...
SALES
Dec 31, 1997 $17,055,000
Mar 31, 1998 $15,098,000
Jun 30, 1998 $12,031,000
Sep 30, 1998 $11,114,000 [ J. Bermingham becomes CEO ]
Dec 31, 1998 $12,768,000 [ Old inventory clearance ]
Mar 31, 1999 $11,893,000 [ Old inventory clearance ]
Jun 30, 1999 $7,932,000
Sep 30, 1999 $8,281,000
Dec 31, 1999 ?????????? [ New Office Depot sales are expected to begin. ]
- - - - - - - - - - - - - - -
GROSS MARGIN
Dec 31, 1997 28.1%
Mar 31, 1998 29.8%
Jun 30, 1998 08.4%
Sep 30, 1998 09.6%
Dec 31, 1998 (06.1%) [ Old inventory clearance ]
Mar 31, 1999 (02.7%) [ Old inventory clearance ]
Jun 30, 1999 15.5%
Sep 30, 1999 28.7% Highest Gross Margin in the past 6 Qtrs
Dec 31, 1999 ????? [ Any additional income from Office Depot license is royalty based. ]
- - - - - - - - - - - - - - -
S, G & A EXPENSES
Dec 31, 1997 42.6%
Mar 31, 1998 51.1%
Jun 30, 1998 55.0%
Sep 30, 1998 49.7%
Dec 31, 1998 41.3%
Mar 31, 1999 38.5%
Jun 30, 1999 42.7%
Sep 30, 1999 32.0% Lowest of any time in the past 2 years.
- - - - - - - - - - - - - - -
OTHER LONG-TERM LIABILITIES
Dec 31, 1997 $2,645,000
Mar 31, 1998 $2,645,000
Jun 30, 1998 $4,007,000
Sep 30, 1998 $3,782,000
Dec 31, 1998 $3,568,000
Mar 31, 1999 $1,641,000
Jun 30, 1999 $674,000
Sep 30, 1999 $674,000 Lowest in the past 2 years.
- - - - - - - - - - - - - - -
TOTAL LIABILITIES
Dec 31, 1997 $32,865,000
Mar 31, 1998 $30,690,000 [ $2.17 million reduction ]
Jun 30, 1998 $30,047,000 [ $643 thousand reduction ]
Sep 30, 1998 $29,088,000 [ $959 thousand reduction ]
Dec 31, 1998 $27,969,000 [ $1.12 million reduction ]
Mar 31, 1999 $23,951,000 [ $4.02 million reduction ]
Jun 30, 1999 $17,849,000 [ $6.10 million reduction ]
Sep 30, 1999 $15,111,000 [ $2.74 million reduction ]
Total Liabilities have been steadily reduced.
- - - - - - - - - - - - - - -
CURRENT RATIO
Dec 31, 1997 2.64
Mar 31, 1998 2.59
Jun 30, 1998 2.49
Sep 30, 1998 2.17
Dec 31, 1998 1.85
Mar 31, 1999 1.49
Jun 30, 1999 1.88
Sep 30, 1999 1.96
Current Ratio shows 2 consecutive quarters of improvement.
- - - - - - - - - - - - - - -
CASH
Dec 31, 1997 $28,769,000
Mar 31, 1998 $24,506,000
Jun 30, 1998 $15,293,000
Sep 30, 1998 $6,257,000
Dec 31, 1998 $3,095,000
Mar 31, 1999 $5,932,000
Jun 30, 1999 $5,453,000
Sep 30, 1999 $3,195,000
SCCO also has a $25,000,000 line of credit thru 2-26-01.
There were no borrowings against that line of credit as of
6-30-99, according to the most recent 10-K.
Interesting. |
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| To: Brad who wrote (94) | 11/12/1999 10:20:00 AM | | From: Brad | | | |
SCCO Annual Shareholder Meeting coming Monday, Nov 15.
Here's an excerpt from a recent SEC filing...
sec.gov
------------------------------------
NOTICE IS HEREBY GIVEN that the Annual Meeting of
Stockholders of Smith Corona Corporation (the "Company") will be
held at One Battery Park Plaza, 34th floor, New York, New York,
10004 on November 15, 1999 at 10:00 a.m., for the following
purposes:
1. To elect two (2) directors to serve until the 2002
Annual Meeting of Stockholders and until their successors are
elected and qualified;
2. To consider and act upon a proposal to ratify the
appointment of KPMG LLP as independent certified public
accountants for the Company for the fiscal year ending June 30,
2000; and
3. To transact such other business as may properly come
before the meeting or any adjournments or postponements thereof. |
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| To: Brad who wrote (96) | 11/17/1999 2:45:00 PM | | From: Brad | | | |
I found an interesting article (interview) yesterday put out by THE WALL STREET TRANSCRIPT. I has a lot of information in it...
twst.com
I was not aware that this is the fourth turn-around company for John Bermingham (CEO). According to this article, prior to SCCO, Bermingham was part of successful turn-arounds at
- Rolodex,
- AT&T Smart Card Systems and AT&T Consumer Products, and
- SONY Magnetic Products Group.
Very interesting! |
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| To: Katie Kommando who wrote (98) | 12/3/1999 12:18:00 PM | | From: dexx | | | |
Katie and all SCCO shareholders,
After over a month of research, I have decided that Smith Corona (NASD: SCCO) is my listed stock pick of the year for 2000.
Currently trading at just a $1.18 a share with ONLY 3 million shares outstanding, Smith Corona is a 114 year-old company that is ready to return to the big time after successfully completing a three-year turn-around under the leadership of new CEO Bermingham.
Having recently signed a seven-year agreement with Office Depot (the largest office retailer in the world), Smith Corona is now prepared to return as an office products leader.
I am predicting a conservative price of over $10/share by Dec. 1, 2000, particularly because of the very successful track record of Bermingham in turning companies around for AT&T and Sony and Rolodex.
This is truly a rare investment opportunity IMO. Bookmark this post, and let's see if I am right on Dec. 1 of 2000.
Below is a link to a recent interview with the CEO of Smith Corona.
twst.com
Happy holidays to all and I wish everyone well in the year 2000.
Dexx |
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| To: dexx who wrote (99) | 12/3/1999 1:17:00 PM | | From: Katie Kommando | | | |
Hey dexx . . . you can't make SCCO your NASDAQ pick for the year 2000 . . . I already made it mine!!
I'm already looking at what type of new car I want to buy in the year 2000 with my profits from SCCO!! I need something to buzz around town in other than my tanks. If just one institutional buyer decides to add SCCO then we can start deciding what kind of fleet of cars we want to buy!!
Katie K. |
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| To: Katie Kommando who wrote (100) | 12/5/1999 4:08:00 PM | | From: JJPLay | | | |
Well, hello;
100th message, on a day which 100,000 shares are traded. Good karma perhaps.
Great products, fabulous tradition and
CEO with great track-record.
I, too, look for great gains in the new year; however, a more conservative estimate of 5-7 dollars.
Best of luck and happy soon-to-be holidays.
Jeff |
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