ICOC - ICO Inc.
ICOC Inc. is a global producer of custom polymer powders and plastic film concentrates.
Keep your eyes close to ICOC, this stock can make you a lot of money. Current price $4.33. The stock looks great, I got in at $3.92. The stock just broke through a new multi-year high. Here we have a combination of the following:
Fundamentals - look great
Technicals - are 100% bullish
Insider buying - can't get better
Stock Price - cheap
Volume - picking up
Sector - on fire
This is what Mr. Knapp Jr., CEO, said on the last earnings report:
"The resin price environment we currently operate in requires a substantial amount of attention. We did a great job last year and during the fourth quarter of monitoring our inventory positions closely and managing our selling prices accordingly. Our fiscal 2005 results reflect the hard work of the entire ICO organization. Thus far, customer demand and profitability during the early part of fiscal year 2006 have been very strong and we currently believe that first quarter fiscal year 2006 pre-tax profitability, excluding charges, will significantly exceed the first and fourth quarters of fiscal year 2005."
The Company reported $0.09 EPS for the 4th quarter. Make your own conclusions.
Good luck to all!!!
Other sector peers are PWEI, SHLM, CMT, POL.
What do you think about the drop today???? It seems like people are selling off before the earnings.
The selling yesterday can be attributable to three factors: 1) There was a commodity sell-off throughout the market yesterday 2) The overall market was negative 3) The stock has gained 28% of its value since 01/26/06 when the run started.
This should be taken as a good buying opportunity. I expect blow out numbers based on high resin prices. Look at POL's earnings report yesterday, they blew out the house. Look at SHLM's report early last month and also PWEI. I expect EPS to be around $0.15 or higher based again on higher resin prices in the international market. Good luck!
Good Earnings but the stock is down. >:(
Well, Wall Street was expecting blow out numbers, something around my figure ($0.15) I guess; however, earnings were still good and the stock is still undervalued. I actually added a few more shares around $3.78. Seems like a good buying oportunity.
Why people are selling 100 or 200 shares ???
Back to where it was on very nice volume, very close to multi-year high. Possible breakout here, keep it on your radar.
The stock just made a new multi-year high.
More Insider Buys, check it out:
http://www.secform4.com/insider/showhistory.php?cik=icoc
Just an update on ICOC:
The stock just made a new multi-year high today. Seems like a pre-earnings run is going on.
Earnings report is due on May 4, 2006 before the market opens. Analysts expect $0.11 EPS.
Hi tocitygirl
That is Market Maker's talk. Up to 500 shares means something but I forgot all of the meanings . one of them means
need more shares done forgot others. Maybe someone on here knows and will post all the meanings for you.
Goodluck trading
100
200
300
400
500
Quote from: tocitygirl on February 09, 2006, 02:30:27 PM
Why people are selling 100 or 200 shares ???
Hi, a double top is formed...
Target at 4.75...
This one is on fire again heading for new 52wk highs.
nullzero , here is the chart.......Been on a nice run
Thanks for alert...Applaud
I am in on ICOC average around 7.90s this one has a high chance of double in 6 months or so.
I'm in for a few @$8.17, so far so good.
This stocks just can't seem to get over $9 and hold that amount. ???
Well, finally over $9 again, closed at $9.45, we will see if this one holds.
Stock looking very bullish right now making new 52 week highs.
Cheers,
Nullzero. Applaud and congrats if you're still holding.
Looks like you were right about the double in 6 months..you're certainly more than half the way there.
I'd like to pick up some ICOC if it had a shakeout into the 11.xx's.
Excellent chart and fundamentals.
Press Release Source: ICO, Inc.
ICO, Inc. Announces Record Financial Results for Fourth Quarter Ended September 30, 2007
Thursday December 6, 7:25 pm ET
HOUSTON, Dec. 6 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News), global producer of custom polymer powders and plastic film concentrates, today announced its results for the year ended September 30, 2007 and the fourth quarter ended September 30, 2007.
Fourth Quarter Highlights
-- Record quarterly revenues of $123.6 million, an increase of
$36.3 million or 42% from the prior year
-- Volume growth of 12% compared to the fourth quarter of fiscal 2006
-- Record quarterly operating income of $9.7 million, up 75%
year-over-year
-- Income per share from continuing operations of $.22 fully diluted
-- Outlook remains positive
Fourth Quarter 2007 vs. Fourth Quarter 2006
Revenues increased $36.3 million or 42%, compared to the same quarter in the prior year, to $123.6 million. An increase in volumes sold of 12% led to an increase in revenues of $18.0 million, or 50% of the revenue increase. Volume improvements were driven by growth in Asia Pacific and Europe, where market demand has increased, as well as Bayshore Industrial, our North American compounding operation. Increases in average selling prices primarily caused by changes in product sales mix caused revenues to increase $12.8 million. In addition, stronger foreign currencies compared to the U.S. Dollar increased revenues by $5.5 million.
The growth in revenues led to an increase in gross profit of $5.3 million over the same quarter in fiscal 2006, or 33%, to $21.4 million for the three months ended September 30, 2007. Gross margins declined from 18.4% to 17.3% due to a change in product and service sales mix. Sales, general and administrative expenses ("SG&A") increased $1.6 million due to higher employee compensation and benefit costs and the effect of stronger foreign currencies. As a percentage of revenues, SG&A dropped to 8.3% from 9.9%, primarily due to the change in product and service sales mix. Operating income for the quarter was $9.7 million, an increase of $4.2 million or 75%. Operating income margins improved to 7.8%, compared to 6.3% last year. Income from continuing operations increased $2.8 million (85%) to $6.0 million, or $.22 per fully diluted share, as a result of the improved operating income.
The quarter included $0.3 million of income included in impairment, restructuring and other costs on the face of the income statement. This amount included $0.9 million for a gain relating to insurance proceeds to be received for the fire damage sustained by our operation in New Jersey. This gain was partially offset by long-term asset impairments primarily related to certain equipment in Australia.
Fourth Quarter 2007 vs. Third Quarter 2007
Compared to the third quarter of fiscal 2007, revenues increased $10.2 million, or 9% largely due to a change in product mix. Also contributing to the revenue growth was a 5% sequential increase in sales and service volumes. The growth in volumes increased revenues by $2.0 million. A change in product and service sales mix increased revenues by $7.4 million, and the effect of stronger foreign currencies increased revenues by $0.8 million. The revenue increase led to an increase in gross profit of $0.8 million.
Similar to the year-over-year quarterly comparison, the sequential gross profit increase partially offset by higher SG&A expenses led to an increase in operating income of $0.7 million or 8%. As a result of the higher operating income in the fourth quarter, income from continuing operations increased $0.4 million or 7% to $6.0 million.
"We just completed another record-setting quarter," stated the Company's President and CEO, Mr. A. John Knapp, Jr., "driven by broad based profitability improvements as fourth quarter operating income for all of our business segments improved year-over-year. While we will see usual seasonal weakness in our next fiscal quarter, we expect that we will continue to see very satisfactory year-over-year revenue and diluted earnings per share growth in the quarter ended December 31, 2007."
Balance Sheet and Liquidity
Our balance sheet remains in very good condition to support the continued growth of the Company. Available credit under committed credit facilities increased $15.1 million during the fourth quarter to $70.6 million. The strong earnings and a weaker U.S. Dollar increased stockholders' equity by $6.7 million during the quarter to $91.0 million as of September 30, 2007. Capital expenditures were $4.0 million during the fourth quarter and $11.6 million for fiscal year 2007.
Conference Call on the Web
A live Internet broadcast of ICO, Inc.'s conference call regarding fiscal
2007 fourth quarter results can be accessed at 10:00 a.m. Central Standard
Time on Friday, December 7, 2007 at
http://www.videonewswire.com/event.asp?id=44058, where the webcast replay will
be accessible for thirty days. The webcast replay will also be accessible on
the Company's website at www.icopolymers.com for a period of twelve months.
(Minimum requirements to listen to the broadcast are: The Windows Media
Player software, downloadable free from
http://www.microsoft.com/windows/windowsmedia/player/download/download.aspx
and at least a 28.8Kbps connection to the Internet.)
Investors are invited to participate in the conference by dialing 847-413-3238, passcode 19572900. A replay of the conference call will be available by dialing 630-652-3044, passcode 19572900.
About ICO, Inc.
With 19 locations in 10 countries, ICO Polymers produces custom polymer powders for rotational molding and other polymer related businesses, such as the textile, metal coating and masterbatch markets. ICO remains an industry leader in size reduction, compounding and other tolling services for plastic and non-plastic materials. ICO's Bayshore Industrial subsidiary produces specialty compounds, concentrates and additives primarily for the plastic film industry. Additional information about ICO, Inc. can be found on the Company's website at http://www.icopolymers.com. Contact: CFO - Jon C. Biro at 713-351-4100.
This press release contains forward-looking statements, which are not statements of historical facts and involve certain risks, uncertainties and assumptions. These include, but are not limited to, restrictions imposed by the Company's outstanding indebtedness, changes in the cost and availability of polymers, demand for the Company's services and products, business cycles and other industry conditions, the Company's lack of asset diversification, international risks, operational risks, and other factors detailed in the Company's form 10-K for the fiscal year ended September 30, 2006 and its other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
ICO, Inc.
Consolidated Statement of Operations
(Unaudited and in thousands, except per share data and percentages)
Three Months Ended Twelve Months Ended
September 30, June 30, September 30,
2007 2006 2007 2007 2006
Product Sales $113,901 $77,829 $102,963 $379,344 $289,163
Toll Services 9,658 9,402 10,415 38,573 35,168
-------- -------- -------- -------- --------
Total Revenues 123,559 87,231 113,378 417,917 324,331
Cost of sales and
services (exclusive of
depreciation shown
separately below) 102,195 71,193 92,836 344,171 261,228
-------- -------- -------- -------- --------
Gross Profit (1) 21,364 16,038 20,542 73,746 63,103
Selling, general
and administrative
expense 10,236 8,621 9,727 37,676 34,284
Depreciation and
amortization 1,785 1,885 1,855 7,251 7,386
Impairment,
restructuring and
other costs (income) (343) - - (997) 118
-------- -------- -------- -------- --------
Operating income 9,686 5,532 8,960 29,816 21,315
Other income (expense):
Interest expense, net (926) (490) (799) (3,227) (2,091)
Other income (expense) 181 (238) (129) (115) 75
Income from continuing -------- -------- -------- -------- --------
operations before
income taxes 8,941 4,804 8,032 26,474 19,299
Provision for income
taxes 2,893 1,529 2,400 6,712 5,836
Income from continuing -------- -------- -------- -------- --------
operations 6,048 3,275 5,632 19,762 13,463
Income (loss) from
discontinued
operations, net of
income taxes (65) (1,407) (18) 1,356 (1,459)
-------- -------- -------- -------- --------
Net income $5,983 $1,868 $5,614 $21,118 $12,004
Preferred Stock dividends (82) (544) (82) (554) (2,176)
Net gain on redemption
of Preferred Stock - - - 6,023 -
Net income applicable to -------- -------- -------- -------- --------
Common Stock $5,901 $1,324 $5,532 $26,587 $9,828
======== ======== ======== ======== ========
Basic income from
continuing operations
per common share $0.23 $0.11 $0.21 $0.97 $0.44
Basic net income per ======== ======== ======== ======== ========
common share $0.22 $0.05 $0.21 $1.02 $0.38
======== ======== ======== ======== ========
Diluted income from
continuing operations
per common share $0.22 $0.10 $0.20 $0.71 $0.43
Diluted net income per ======== ======== ======== ======== ========
common share $0.21 $0.05 $0.20 $0.76 $0.37
======== ======== ======== ======== ========
Gross Margin (2) 17.3% 18.4% 18.1% 17.6% 19.5%
(1) Calculated as Total Revenues minus Cost of Sales and Services,
exclusive of Depreciation Expense.
(2) Calculated as Gross Profit divided by Total Revenues.
ICO, Inc.
Consolidated Balance Sheet
(Unaudited and in thousands, except share data and ratios)
September 30, September 30,
2007 2006
ASSETS
Current assets:
Cash and cash equivalents $8,561 $17,427
Trade receivables 95,142 67,742
Inventories 60,420 41,961
Deferred income taxes 1,778 2,195
Prepaid and other current assets 9,924 6,775
--------- ---------
Total current assets 175,825 136,100
--------- ---------
Property, plant and equipment, net 57,396 50,884
Goodwill 9,228 8,585
Other assets 3,768 2,392
Total assets --------- ---------
$246,217 $197,961
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings under credit
facilities $16,133 $17,214
Current portion of long-term debt 11,611 4,696
Accounts payable 66,906 35,809
Accrued salaries and wages 7,313 5,360
Income taxes payable 2,368 4,188
Other current liabilities 13,636 11,332
Total current liabilities --------- ---------
117,967 78,599
--------- ---------
Long-term debt, net of current portion 29,605 21,559
Deferred income taxes 4,820 4,210
Other long-term liabilities 2,783 1,876
Total liabilities --------- ---------
155,175 106,244
--------- ---------
Commitments and contingencies - -
Stockholders' equity:
Convertible exchangeable
preferred stock, without par
value -- 345,000 shares authorized;
46,381 and 322,500 shares issued and
outstanding, respectively, with a
liquidation preference of $5,812 and
$40,410, respectively 2 13
Undesignated preferred stock,
without par value -- 155,000 shares
authorized;
No shares issued and outstanding - -
Common stock, without par value -- 50,000,000
shares authorized; 26,709,370 and
25,792,168 shares issued and outstanding,
respectively 47,659 45,087
Additional paid-in capital 74,920 104,844
Accumulated other comprehensive
income (loss) 5,416 (154)
Accumulated deficit (36,955) (58,073)
Total stockholders' equity --------- ---------
Total liabilities and 91,042 91,717
stockholders' equity --------- ---------
$246,217 $197,961
========= =========
OTHER BALANCE SHEET DATA
Working capital $57,858 $57,501
Current ratio 1.5 1.7
Total debt $57,349 $43,469
Debt-to-capitalization 38.6% 32.2%
ICO, Inc.
Supplemental Segment Information
(Unaudited and in thousands, except percentages)
Revenues
Three Months Ended % of % of
September 30: 2007 Total 2006 Total Change %
ICO Europe $45,957 37% $34,210 39% $11,747 34%
ICO Asia Pacific 25,166 20% 13,291 15% 11,875 89%
ICO Polymers North
America 9,891 8% 11,755 14% (1,864) (16%)
ICO Brazil 3,650 3% 2,407 3% 1,243 52%
-------- -------- -------- -------- --------
Total ICO Polymers 84,664 68% 61,663 71% 23,001 37%
Bayshore Industrial 38,895 32% 25,568 29% 13,327 52%
-------- -------- -------- -------- --------
Consolidated $123,559 100% $87,231 100% $36,328 42%
======== ======== ======== ======== ========
Fiscal Year Ended % of % of
September 30: 2007 Total 2006 Total Change %
ICO Europe $170,135 41% $129,372 40% $40,763 32%
ICO Asia Pacific 84,790 20% 47,819 15% 36,971 77%
ICO Polymers North
America 41,377 10% 44,834 14% (3,457) (8%)
ICO Brazil 13,255 3% 9,301 3% 3,954 43%
-------- -------- -------- -------- --------
Total ICO Polymers 309,557 74% 231,326 72% 78,231 34%
Bayshore Industrial 108,360 26% 93,005 28% 15,355 17%
-------- -------- -------- -------- --------
Consolidated $417,917 100% $324,331 100% $93,586 29%
======== ======== ======== ======== ========
Operating income (loss)
Three Months Ended
September 30: 2007 2006 Change %
ICO Europe $2,449 $1,090 $1,359 125%
ICO Asia Pacific 1,753 712 1,041 146%
ICO Polymers North
America 1,709 1,320 389 29%
ICO Brazil 34 (9) 43 NM
-------- -------- --------
Total ICO Polymers 5,945 3,113 2,832 91%
Bayshore Industrial 5,716 3,964 1,752 44%
-------- -------- --------
Total Operations 11,661 7,077 4,584 65%
General Corporate
Expense (1,747) (1,327) (420) 32%
Unallocated stock option
compensation (228) (218) (10) 5%
-------- -------- --------
Consolidated $9,686 $5,532 $4,154 75%
======== ======== ========
Fiscal Year Ended
September 30: 2007 2006 Change %
ICO Europe $9,008 $6,021 $2,987 50%
ICO Asia Pacific 5,914 2,412 3,502 145%
ICO Polymers North
America 6,022 5,037 985 20%
ICO Brazil 301 (459) 760 NM
-------- -------- --------
Total ICO Polymers 21,245 13,011 8,234 63%
Bayshore Industrial 15,358 14,843 515 3%
-------- -------- --------
Total Operations 36,603 27,854 8,749 31%
General Corporate
Expense (6,117) (5,682) (435) 8%
Unallocated stock option
compensation (670) (857) 187 (22%)
-------- -------- --------
Consolidated $29,816 $21,315 $8,501 40%
======== ======== ========
Operating income (loss) as
a percentage of revenues Three Months Ended Fiscal Year Ended
September 30, September 30,
2007 2006 Change 2007 2006 Change
ICO Europe 5% 3% 2% 5% 5% 0%
ICO Asia Pacific 7% 5% 2% 7% 5% 2%
ICO Polymers North
America 17% 11% 6% 15% 11% 4%
ICO Brazil 1% 0% 1% 2% (5%) 7%
Total ICO Polymers 7% 5% 2% 7% 6% 1%
Bayshore Industrial 15% 16% (1%) 14% 16% (2%)
Consolidated 8% 6% 2% 7% 7% 0%
NM = Not meaningful
ICO, Inc.
Supplemental Segment Information (cont'd.)
(Unaudited and in thousands, except percentages)
Revenues
Three Months Ended
September 30, June 30,
% of % of
2007 Total 2007 Total Change %
ICO Europe $45,957 37% $47,797 42% $(1,840) (4%)
ICO Asia Pacific 25,166 20% 25,528 22% (362) (1%)
ICO Polymers North America 9,891 8% 11,083 10% (1,192) (11%)
ICO Brazil 3,650 3% 3,286 3% 364 11%
-------- ------- -------- ------ --------
Total ICO Polymers 84,664 68% 87,694 77% (3,030) (3%)
Bayshore Industrial 38,895 32% 25,684 23% 13,211 51%
-------- ------- -------- ------ --------
Consolidated $123,559 100% $113,378 100% $10,181 9%
======== ======= ======== ====== ========
Operating income (loss)
Three Months Ended
September 30, June 30,
2007 2007 Change %
ICO Europe $2,449 $3,376 $(927) (27%)
ICO Asia Pacific 1,753 2,315 (562) (24%)
ICO Polymers North
America 1,709 1,553 156 10%
ICO Brazil 34 63 (29) (46%)
------- ------- -------
Total ICO Polymers 5,945 7,307 (1,362) (19%)
Bayshore Industrial 5,716 3,329 2,387 72%
------- ------- -------
Total Operations 11,661 10,636 1,025 10%
General Corporate Expense (1,747) (1,511) (236) 16%
Unallocated stock option
compensation (228) (165) (63) 38%
------- ------- -------
Consolidated $9,686 $8,960 $726 8%
======= ======= =======
Operating income (loss) as
a percentage of revenues Three Months Ended
September 30, June 30,
2007 2007 Change
ICO Europe 5% 7% (2%)
ICO Asia Pacific 7% 9% (2%)
ICO Polymers North
America 17% 14% 3%
ICO Brazil 1% 2% (1%)
Total ICO Polymers 7% 8% (1%)
Bayshore Industrial 15% 13% 2%
Consolidated 8% 8% 0%
competitor in the sector, just fyi.
---------------------------------------
AP
A. Schulman 1Q '08 Profit Soars
Friday January 4, 9:00 am ET
A. Schulman 1st-Qtr Profit Rises More Than Fourfold on North American Division Cost Cuts
AKRON, Ohio (AP) -- A. Schulman Inc., which produces plastic resins, said Friday its fiscal 2008 first-quarter earnings surged, boosted largely by cost cuts in North America.
The company earned $10 million, or 36 cents per share, compared with $2.36 million, or 9 cents per share, in the year-ago quarter.
ADVERTISEMENT
Adjusted to exclude one-time items, the company earned $11.1 million, or 39 cents per share, compared with a year-ago profit of $3.4 million, or 12 cents per share.
Revenue grew 12 percent to $496.6 million in the quarter, which ended Nov. 30, from $442.7 million in the prior-year period.
Sales in the company's North America operations were $128.6 million, a 9 percent increase from $118.3 million in last year's fiscal first quarter.
European operation sales, which include Asia, increased by 13 percent to $368 million for the quarter.
The company said a positive foreign currency exchange also boosted sales by about 8.2 percent, or $36.1 million.