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Thursday, 27 July 2006
"Trading Transparency" KNDL---Breaking All of My Rules!

Hello Friends!  Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice!  As always, please remember that I am an amateur investor, so please rememeber to consult with your professional investment advisors prior to making any investment decisions based on information on this website.

A few moments ago, I broke all of my trading rules---much the same way that I did with Dynamic Materials (BOOM) a few months ago.  Kendle announced 2nd quarter earnings results this morning, and unfortunately missed expectations by a nickel.  The market is in a "take no prisoners" mode and decimated the stock this morning.  Kendle is trading at $28.22, down $(7.38) or (20.73%) as I write.  I went ahead, believing that this was entirely overdone, and entered a purchase for 800 shares (!) of Kendle at $28.4799.  Hopefully, I shall be correct on this move, as this is actually a larger than average purchase for me, totalling $22,783.92.

Let's review that earnings report and you will hopefully see why I would 'break' my trading rules and enter this stock purchase.  

Net service revenue for second quarter 2006 came in at $62.1 million, an increase of 24% over net service revenue in the same quarter last year.  Net income for the quarter came in at $4.29 million, up about 200% from last year's $1.44 million result.  Again on a per share basis, this worked out to $.29/share, up sharply from $.10/share last year.  Fully diluted "adjusted" net income, still worked out as $.39/share up over 100% from last year's "adjusted" fully diluted net income of $.19/share.

The Morningstar.com "5-Yr restated" is perfect.   Almost perfectly steady revenue growth, earnings which dropped to a loss in 2002 at $(4.30)/share, have improved steadily, turning to a profit in 2004 at $.27/share, increasing to $.76/share in 2005, and $.93/share in the TTM.

Even the number of shares outstanding has been fairly steady at 12 million in 2001, increasing to 14 million in the TTM.

Free cash flow was $12 million in 2003, $18 million in 2005, and $17 million in the TTM.

The Morningstar balance sheet shows $51.6 million in cash and $80.6 million in other current assets, easily paying down the $60.3 million in current liabilities and the $1.5 million in long-term liabilities combined.

Anyhow, wish me luck.  I am not following my intensely disciplined trading rules with this purchase.  I am just trying to use my head and reserve the flexibility to make a purchase like this when things get entirely overdone imho.

Thanks again for stopping by!  If you have any comments or questions on this or anything else on the blog, please feel free to leave your comments right on the blog or email me at bobsadviceforstocks@lycos.com.  Also, be sure to visit my Stock Picks Bob's Advice Podcast website, where, if you are so inclined :), you can listen to me as well as read what I write!

Bob 

 


Posted by bobsadviceforstocks at 10:03 AM CDT | Post Comment | Permalink

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