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Industrialex ( IXC.U ) Revenue Up 21% and Postive Net Earnings,,,,,

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By knobizumi

Posted: Friday Nov 2 4:37:36AM 2007

I guess the title of this thread should now read “Industrialex (IXC.U) Revenue Up ** 61% ** and 1 cent Net Earnings”…lol Okay, here are the Q3 highlights as far as I can tell : -Q3 Revenues up 61% over Q3 2006 ($1,183,000 vs $735,000) -9 months to Sept 30 Revenues up 31% over 2006 -Q3 Net Income of $195,000 (1 cent/share) vs a loss of $97,000 Q3 2006 -Cost of sales appear to be down to about 65.9% from 74.9% for the same period last year. (this is for the Arvada plant) The Colorado Springs plant (now listed as discontinued ops) has partially been consolidated into the Arvada plant so it’s hard to sort it out. The Colorado Springs plant did manage to squeak out a profit too though, even after the consolidation which says something. -Q3 cash increased to $453,000 (2.4 cents/share) from $228,000 in Q2 -Q3 working capital increased to $626,000 from $409,000 in Q2 -More orders for the Colorado Springs plant have been received enough to keep it going possibly into 2008. It did turn a small profit this quarter. Much of the operations have already been consolidated into the Arvada plant along the costs associated with it. -Company repurchase 100,000 shares in September That’s about it for what I can see that would stand out. I can’t really find many negatives. Earning 1 cent this quarter, I would think it will not be too difficult to replicate or surpass in quarters to come. Business appears to be picking up, the consolidation definitely seems to have done the trick, and I would assume they probably have the capacity in the one plant to do about 2 cents a quarter. Even at 1 cent a quarter or 4 cents a year, what’s a reasonable multiple here? 8x? 10x? 15x? At just 10x earnings that would put the stock at 40 cents. With the CEO owning over 10 million shares and volume as thin as it is it should move up fairly quickly with any buying pressure. I don’t get the feeling they really are into PRing the stock but if earnings can increase even a little or remain stagnant the cash in the bank will say it all. Even stocks with no PR don’t trade at 2.5x ‘probable’ earnings for long. 2x earnings before yesterday.

By dundee

Posted: Thursday Nov 1 4:46:48PM 2007

Earnings were announced today.

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