1-7-04 to 31-12-04 = $7.7 million in revenues & $860k profit 1-1-05 to 30-6-05 =$8.7 million in revenues & $1.16 million profit.
Sale of goods for 1st half was $3.8 million and inventories were $212k. Sale of goods for 2nd half were $5.1 million and inventories were $2.6 million
HMC previoulsy warned that Selenium prices were falling, and now it looks like they are having trouble moving the $2.6 million stockpile shown in inventories at the end of June 2005.
Any thoughts as to how this will effect the profit for the 1st half ? Some sort of guidence would have been good, instead of letting the market take a guess.
The strange thing is in the chairmans address he states that they have a stock pile of $2.5 million which is on par with full year inventories ?
Chookbum was right, the liquidity is a killer on this stock, and they are having trouble maintaining profit flow. But I still think this is a major over reaction, when you consider that it should be a short term slump in price.
HMC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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