I'm In...Anyone Else?

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mooreman

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I'm In...Anyone Else?

posted on Jul 29, 2008 11:45AM

I've been following ADF for some time, and at current levels ($3.65), the stock was just too undervalued to resist any longer.

Many positive metrics to highlight including:

An order backlog of $148 million as of April 30, 2008 compared with $64 million last year, representing an increase of 131%.

Revenues of $25.2 million for the first quarter ended April 30, 2008, up 130% over the same period of the previous year.

Gross margin before foreign exchange variation grew by 81% to $7.1 million, or 28% of first-quarter revenues.

Net earnings jumped 131% to $3.2 million or $0.09 basic and diluted per share in Q1 over Q1 (07).

Working capital of more than $28 million and an increase of some 5% in shareholders' equity, reflecting operating profitability, and a long-term debt under the $10 million mark.

Guidance for revenues between $80 million and $100 million for the current fiscal year.

In negotiation for various potential projects totalling some $395 million in North America and abroad.

Analysts' targets of $8.00 +.

With $billions to be spent on infrastructure upgrades and growth in Canada alone over the next few years, ADF offers an attractive, undervalued way to play this field.