this one really didn't blow my skirt up but somebody posted recently that
they bought some of this...
WOR Div & Yield: 0.68 (3.90%)
P/E (ttm): 15.74
PERIOD ENDING ....30-Nov-07 .31-Aug-07 .31-May-07 .28-Feb-07
Retained Earnings ....- ........ - ..... 745,912 .... - <--?
Total Revenue .....713,664 . 758,955 . 786,576 .. 677,250
Sale (Buy) Stock ...10,714 . (84,976)..... 6,348 . (15,816)
Net Borrowings ......6,200 .. 55,350 . (87,914).. (83,941)
http://stockcharts.com/charts/gallery.html?WOR
<--{going to retest
$15...losing it]
Short % of Float (as of 11-Mar-08): 23.10% <---motivated buyers
Qtrly Revenue Growth (yoy): 7.10% <---fair
Qtrly Earnings Growth (yoy): 232.20% <--------xlnt
Total Debt (mrq): 408.30M <----13% of revenue....fair/poor
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Worthington Industries, Inc. operates as a diversified metal processing
company focusing on steel processing and manufactured metal products
primarily in the United States, Canada, and Europe. The company operates
in three segments: Steel Processing, Metal Framing, and Pressure
Cylinders. The Steel Processing segment processes flat-rolled steel. It
primarily serves the automotive, construction, lawn and garden, hardware,
furniture, office equipment, electrical control, tubing, leisure and
recreation, appliance, farm implements, HVAC, container, and aerospace
markets. The Metal Framing segment designs and produces metal framing
components and systems, as well as related accessories for the commercial
and residential construction markets. Its products include steel studs
and track, floor and wall system components, roof trusses, and other
metal framing accessories. The Pressure Cylinders segment produces low-
pressure liquefied petroleum gas cylinders, refrigerant gas cylinders,
and high-pressure and industrial/specialty gas cylinders. In addition,
the company provides stamping, blanking, assembly, painting, packaging,
die management, warehousing, distribution management, and other services
to customers, primarily in the automotive industry; designs and builds
mid-rise light-gauge steel framed commercial structures and multi-family
housing units; supply and construction of metal framing products for, and
in the framing of, single family housing, with a focus on military; and
designs and manufactures reusable custom platforms, racks, and pallets
made of steel for sup****ting, protecting, and handling products
throughout the ****pping process for industries, such as automotive, lawn
and garden, and recreational vehicles. Worthington Industries was founded
in 1955 and is headquartered in Columbus, Ohio.
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FROM THE 10Q QUARTERLY RE****T: During the second quarter of
fiscal 2008, we took the following actions:
† On October 25, 2007, we acquired a 49% interest in crate and pallet
maker LEFCO Industries, LLC, a minority business enterprise, to form a
joint venture to produce steel rack systems. The joint venture is called
LEFCO Worthington, LLC and will manufacture steel rack systems for the
automotive and trucking industries, in addition to continuing LEFCO's
existing products.
† On September 25, 2007, we formed a steel processing joint venture, in
which we have an equity interest of 49%, with The Magnetto Group to
construct and operate a Class One steel processing facility in Slovakia.
This joint venture is known as Canessa Worthington Slovakia s.r.o.
("Canessa Worthington") and will service customers throughout central
Europe. Start-up is underway, and operations are scheduled to begin in
early calendar 2008.
† On September 17, 2007, we acquired a 50% interest in Serviacero Planos
in central Mexico. This joint venture is known as Serviacero Worthington
Planos S.A. de C.V. ("Serviacero Worthington"). The acquisition resulted
in positive equity income for the Company in the second quarter of fiscal
2008.
† On September 14, 2007, we acquired certain cylinder production assets
of Wolfedale Engineering in Canada that have been integrated into our
Pressure Cylinders segment.
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