BLL . . Div & Yield: 0.40 (0.80%)
P/E (ttm): 17.06
PERIOD ENDING .....31-Dec-07 .30-Sep-07 ...1-Jul-07 ....1-Apr-07
Retained Earnings 1,765,000 . 1,741,000 . 1,690,200 . 1,594,700 <---
Total Revenue ....1,756,200 . 1,992,100 . 2,032,800 . 1,694,200
..
Sale (buy) Stock ..(56,200)... (59,800) ...(7,800) ....(87,500)
Net Borrowings ....(48,400)... (36,000). (224,800)..... 139,200
..
Qtrly Revenue Growth (yoy): 10.30% <--ok/good
Qtrly Earnings Growth (yoy): -31.10% <---bzzzt
Total Debt (mrq): 2.36B <---31% of revenue...bzzzt?
..
Shares Short (feb08): 3.17M
Shares Short (as of 26-Mar-08): 3.21M
Short % of Float (as of 26-Mar-08): 3.30%
..
Ball Cor****ation provides metal and plastic packaging to the beverage,
food, and household products industries. It offers aluminum and steel
beverage cans for carbonated soft drinks, beer, energy drinks, and other
beverages. The company also produces two-piece and three-piece steel food
containers for packaging vegetables, fruit, soups, meat, seafood,
nutritional products, pet food, and other products; and polyethylene
terephthalate and polypropylene plastic containers used primarily in
beverage, and food packaging, as well as high density polyethylene and
polypropylene containers for industrial and household product
applications. In addition, it develops spacecraft, sensors and
instruments, radio frequency systems, and other technologies for the
civil, commercial, and national security aerospace markets. Further, the
company provides technical services and products to government agencies,
prime contractors, and commercial organizations for a range of
information warfare, electronic warfare, avionics, intelligence,
training, and space systems needs. It has operations in North America,
Europe, the People's Republic of China, Argentina, and Brazil. The
company was founded in 1880 and is headquartered in Broomfield, Colorado.
..
FROM THE 10K ANNUAL RE****T:
In 2009 we expect to complete a project to upgrade and streamline our
North American beverage can end manufacturing capabilities, a project
that in 2007 began to generate productivity gains and cost reductions in
the metal beverage packaging, Americas, segment.
.............................
PERIOD ENDING .31-Dec-07 .30-Sep-07 .1-Jul-07 .1-Apr-07
Capital Ex... (85,600) ...(56,600) ..(78,200). (88,100)
............................
European, Asian and Brazilian beverage can markets are growing and are
expected to continue to grow. We are capitalizing on this growth by
increasing capacity in some of our European can manufacturing facilities
and by announcing plans to establish a plant in India
..
During the second quarter of 2007, Miller Brewing Company (Miller),
asserted various claims related to the pricing of the aluminum component
of the containers and on October 4, 2007, the dispute was settled in
mediation. Miller received $85.6 million Miller received a one-time
payment of approximately $70 million ($42 million after tax) in January
2008 (recorded on the December 31, 2007, consolidated balance sheet in
other current liabilities) with the remainder of the settlement to be
recovered over the life of the supply contract through 2015.
the legal settlement, decreased sales by 3 percent in 2007 as compared
to 2006.
..
On October 24, 2007, Ball announced plans to close two manufacturing
facilities and to exit the custom and decorative tinplate can business
located in Baltimore, Maryland. Ball will close its food and household
products packaging facilities in Tallapoosa, Georgia, and Commerce,
California, both of which manufacture aerosol and general line cans. The
two plant closures will result in a net reduction in manufacturing
capacity of 10 production lines, including the relocation of two high-
speed aerosol lines into existing Ball facilities, and will allow us to
supply customers from a consolidated asset base. When completed
throughout 2008
[[[[[[[[severence, retirements and restructuring costs]]]]]]]
..
I think the domestic restructuring and the emerging market buildout will
take a toll on profitability and this is a good current short sell
perhaps as high as $55 but retracement to $44
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