WEB NEWS Research
ELXS (33.25) reported Q4 2016 results :
Comments & Business Outlook
First Quarter 2016 Results
Sales of $23.2 million vs $19.0 million in the prior year
EPS of $0.53 vs $0.38
Excluding the impact of ASC 740, the Company would have earned $0.82 per diluted share in the first quarter of 2016 compared to $0.38 per diluted share in the first quarter of 2015, a 116% increase.
Comments & Business Outlook
Comments & Business Outlook
Comments & Business Outlook
Comments & Business Outlook
Research
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Elxsi (PINK:ELXS) - through its subsidiaries, operates a chain of restaurants in New England. As of December 31, 2010, it operated 10 restaurants. The company also engages in manufacturing and servicing video inspection and repair equipment for wastewater and drainage systems in the United States and internationally.
Please recall that ELXS first entered our Tier 1Pink Sheets screen on 1/14/2012 at $3.25 and was mentioned in an email to members on April 2, 2012.
Through emails to our members, we have mentioned the positive operational gains that ELXS has made over the last several quarters. The company’s 2012 2nd quarter continued this trend.
Revenues increased 19% to $18.9 million; this revenue performance appears to be a record for the company.
EPS increased 25% to $0.35
ELXS has now logged above average EPS growth for 9 quarters and believes the positive operational trend should continue. "Management expects the positive trend experienced over the last few quarters to continue as the restaurant segment exposure has been significantly diminished and the current outlook for pipe line infrastructure spending appears stable. For more color on ELXS’s growth drivers please see it August 14th quarterly report and our May 22nd 2012 research notes .
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Comments & Business Outlook
Second Quarter 2012 Results
Reported net sales of 18.9 million vs. $15.9 in prior year second quarter.
Reported earnings per share of $0.35 vs. $0.28 in prior year second quarter.
Please see our research note for more details.
Comments & Business Outlook
It is known by those who follow the GeoTeam that when looking for value, we will not discriminate against a stock:
· That lacks the daily volume that some investors may look for.
· That resides on the Pink Sheets.
We attempt to cater to all types of investors, so those that are familiar with the Pink Sheets sector and the risk associated with illiquid markets may be interested in this update.
On 1/4/2012 we highlighted Elxsi Corp (Pinksheets:ELXS) (current price $8.98/shr.) in our blog GEOETAM ) at $4.60 and on 4/2/2012 we mentioned the company in a premium email alert at $6.25 . The company does not issue press releases through major wires, opting instead to utilize the www.otcmarkets.com (formally pinksheets.com ) platform to distribute its news. This can result in an inefficient flow of significant news to the market. On 5/18/2012 ELXS reported its 2012 first quarter financial information where EPS more than doubled to $0.25 ($0.17 fully taxed) . Even more revealing was that the company provided some bullish commentary to suggest that the positive operational trends experienced over the last several quarters will continue and maybe accelerate into the near future. The company mentioned that:
· its robotic division has received its largest international order in its history. (this division is a leading manufacturer of robotic video inspection equipment, repair equipment and asset management software for wastewater and drainage systems).
· It will continue to repurchase shares under a share repurchase program from time to time
and subject to market conditions. The Company believes its shares remain undervalued at current market prices.
· it believes the current core group of seven operating restaurants will significantly outperform the negative results endured over the past eight years. The trend in recent operating results of the restaurant operation continues to bear this out.
· The sales and production backlog of its robotics division at March 31, 2012 continued to be higher than at the same time in previous years.
· During the second quarter of 2012, Cues expects to ship a portion of the largest equipment order in its history to an international customer.
· It is cautiously optimistic that actions taken to increase international staffing and dealerships will result in a significantly higher level of international sales than in past years.
· It expects the positive trend experienced over the last few quarter to continue as the exposure to restaurant fluctuations has been significantly diminished and the current outlook for pipe line infrastructure spending (robotics division) appears stable.
Fully taxed trailing EPS now stands at $0.74 with a trailing P/E of 11.
Caveats :
· We still have been unsuccessful at securing an interview with management.
· The stock has a small float and rarely trades, so there is no guarantee that the price will reflect positive developments.
· The company has some tough sales and EPS comparisons in coming quarters.
Disclosure: Long ELXS
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Notable Share Transactions
From the March 31, 2012 Quarter report :
" During the first quarter of 2012, the Company repurchased 15,437 shares of its common stock for approximately $63,000 under its previously announced program to repurchase up to $1,500,000 of its common stock on the open market and in privately negotiated transactions. The Company will continue to repurchase shares under this program from time to time and subject to market conditions. The Company believes its shares remain undervalued at current market prices."
Comments & Business Outlook
Full Year 2011 Results
Net Sales for 2011 were $60.3 million vs $52.2 million in 2010
Diluted earnings per share for 2011 were $0.94 vs $0.08 in 2010 As indicated below and reported in previous press releases, the year ended December 31, 2011 financially reflects the success of the Company�s strategic restructuring of its restaurant division and its focus on continued product and market development at its Cues robotics division. The Company expects to report record levels of sales and profitability in 2011 at the Cues division, which contributed to the expected substantial increase in earnings per share for the year ended December 31, 2011. In addition, the Company achieved these results while reducing its bank debt from approximately $3.0 million at December 31, 2010 to approximately $1.7 million at December 31, 2011. The Company�s tangible book value was approximately $4.57 per share as of December 31, 2011.
