Wednesday, August 5, 2009
APT announces record earnings
Alpha Pro Tech announced record earnings for the 2nd quarter, driven by sales for their infection control and building supply products.
http://finance.yahoo.com/news/Alpha-Pro-Tech-Ltd-Announces-bw-3964651527.html?x=0&.v=1
Shares soared 16% in after hours trading after the announcement. We're up big since opening up our positions 3 weeks ago, and could have been up more had I acted on my original due diligence 2 months ago. APT executives had been giving hints on a robust 2nd quarter and long lead times for deliveries since June. CEO's normally don't drop hints like that unless they know execution won't be an issue. In other words, this was telegraphed 2 months ago.
Lawsuits fly when CEO's dupe and mislead investors. Another lesson learned. Gotta trust my instincts more. That's okay, a 40% return in less than 3 weeks is a lesson I don't mind learning.
Disclosure: Long position in APT shares.
Labels:
APT,
building supply,
infection control,
masks,
swine flu
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