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Message: polaris 3'rd quarter report

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polaris 3'rd quarter report

posted on Nov 15, 07 07:13AM

 Just finished reading the 3'rd quarter report and listening to the company webcast. Not too much in the way of positive news.

Production volume and sales were about at estimated levels but almost everything else was more negative:

     Production costs higher than estimates.

     Shipping costs higher than estimates.

     Weak U.S. $ hurt revenue since majority of sales are in the U.S.and the company financials are reported in U.S.$.

     Costs to complete Richmond terminal about $1. million over estimates.

     Partial write down of $5.5 million  in asset backed commercial paper with no idea of when or how much will be recovered.

     With that being said maybe the negatives are behind us and 2008 will achieve the projected results, $41.5 million in sales and$13.6 million in net profit.{these projections

 put out by Desjardin Securities}

   Good Luck

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