Year 2009 revenue revised down to $125-130 million from 155, but that is still about 60% increase on 2008.!!
They have put capital expenditure on hold, but have still managed to increase the number of rigs they have. They have also moved into Saudi Arabia, and Canada.
The whole report reads like outstanding management to me.
This company still seems like one to hold for the long term, and accumulate or average into at the current prices.
SWK Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
