More cash in the bank than market cap!!

In the recent HY report, they had $204M net cash, and at today's close a market cap of $185M. They could give a dollar back to every shareholder and keep on going with the business! Their order book is $1.6B, so they have quite a bit of work to do.

They seem to be out of franking credits, hence the buyback I suppose, but they have not made any purchases for awhile.