BKI BUCKEYE TECH INC 8.64 11:35AM ET (-2.21) (-20.37%)
here's the comment I made Mar31 regarding BKI:
"<--needs to backfill the Oct07 gap at $9.75 "
was a good short sell candidate Mar31
now in the mid 8's it might be a good long candidate
they promise to triple the 2nd Q income compared to 2007
and thompsons thinks they'll beat 4-6cent upside EPS in Q2
could be a near horizon long play at this point
I wonder what the 20-25 person severance will cost them?
here's the Mar31 post:
==================
BKI
P/E (ttm): 8.33
PERIOD ENDING ....31-Dec-07 30-Sep-07 .30-Jun-07 .31-Mar-07
Retained Earnings ....- ...... - .....307,851 .... -
Total Revenue .....210,922 . 197,399 . 200,176 . 193,009
Sale of Stock ....3,037 .... 2,705 ...7,549 ......1,209
Net Borrowings ...(6,477) ...(26,741) ..(20,993).. (12,583) <-------!!!!
http://stockcharts.com/charts/gallery.html?bki
<--needs to backfill the
Oct07 gap at $9.75
Short % of Float (as of 11-Mar-08): 7.10%
Qtrly Revenue Growth (yoy): 14.20% <--------good
Qtrly Earnings Growth (yoy): 263.00% <--------xlnt
Total Debt (mrq): 413.93M <---------52% of revenue....bzzzt?
Buckeye Technologies, Inc. manufactures and markets cellulose-based
specialty products made from wood and cotton worldwide. The company's
products include chemical cellulose, customized fibers, fluff pulp, and
nonwoven materials. Its chemical cellulose is used in the manufacture of
various products, including food casings, cigarette filters, rayon
filament, acetate fibers, and thickeners for consumer products,
cosmetics,
and pharmaceuticals. Buckeye's customized fibers are used to provide
****osity, color permanence, and tear resistance in filters, letterheads,
currency paper, and personal stationery, as well as absorbency and
softness
in cotton balls and cotton swabs. The company's fluff pulp and nonwoven
materials are used to increase absorbency and fluid trans****t in
products,
such as disposable diapers, feminine hygiene products, and adult
incontinence products, as well as its nonwoven materials are used to
enhance fluid management and strength in wipes, tabletop items, food
pads,
household wipes, and mops. Buckeye Technologies, Inc. was founded in 1992
and is headquartered in Memphis, Tennessee.
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Buckeye Technologies Will Cut Staff at Canada Plant but Offers Guidance
Ahead of Expectations
http://biz.yahoo.com/ap/080122/buckeye_outlook.html?.v=1
EXCERPT:
Buckeye Technologies Inc., a specialty fibers maker, said Tuesday it will
cut 20 to 25 staffers at a plant in British Columbia, due to a stronger
Canadian dollar and high trans****tation costs.
However, Buckeye added it expects fiscal second-quarter earnings to more
than triple from a year ago.
Buckeye said it will cut 20 to 25 employees at its plant near Vancouver
due
to the loss of some business from an undisclosed, longtime customer.
"The strong Canadian dollar and the high trans****tation cost from Delta's
location were key factors in not being able to meet the pricing
requirements of our customer at an acceptable margin," said Chairman and
Chief Executive John B. Crowe in a statement.
Meanwhile, the company expects second-quarter net income between 34 cents
and 36 cents per share on 14 percent higher revenue, up from 10 cents per
share a year earlier.
That is greater than analysts expectations of 30 cents per share,
according
to a Thomson Financial poll.
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