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January 13, 2009 – Comments (8) | RELATED TICKERS: BOLT

Does anybody have anything new to say about Bolt Technologies (BOLT)? I really wish someone would say something about microcaps like this when they seem to be facing impossible situations (like depressed oil prices in BOLT's case). They have a lot of cash (1/3 of their market cap) and no debt, but are they making any money? Are they just going to sit around and wait for $100 oil again? Does anybody know any way of finding out?

Disclosure: I own a small number of shares of BOLT.

8 Comments – Post Your Own

#1) On January 13, 2009 at 4:58 PM, Imperial1964 (97.49) wrote:

Last I knew they were making money.  I'm waiting for the annual report to come out in several weeks.

I own a chunk of BOLT, partially on the recommendation of TMFEldrehad.  He can pitch it better than I can.

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#2) On January 13, 2009 at 11:29 PM, FleaBagger (29.26) wrote:

Same here.

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#3) On January 27, 2010 at 8:44 PM, lollard (99.73) wrote:

I recommend reading the 10-Ks and quarterly reports.

from most recent earnings announcement:

Sales for the second quarter of fiscal year 2010, the three months ended December 31, 2009, were $8,675,000 compared to $13,590,000 for the second quarter of fiscal year 2009. Net income for the quarter was $1,461,000 ($0.17 per share) compared to $3,026,000 ($0.35 per share) for the second quarter of fiscal year 2009.

Sales for the first half of fiscal year 2010, the six months ended December 31, 2009, were $15,708,000 compared to $24,853,000 for the same period last fiscal year. Net income for the period was $2,639,000 ($0.31 per share) compared to $5,306,000 ($0.62 per share) in the first six months of fiscal year 2009.

Raymond M. Soto, Bolt’s chairman, president and CEO, commented, “Our operating results for the second quarter and first six months of fiscal year 2010 continue to reflect the impact of lower marine seismic exploration activity caused by the global economic slowdown. The lower level of activity resulted in a 37% decrease in sales and a 50% decrease in net income for the six months ended December 31, 2009 as compared to last fiscal year’s first six months. All three of our reportable segments—Seismic Energy Sources, Underwater Cables and Connectors and Seismic Energy Source Controllers—continued to operate profitably and our fiscal year 2010 second quarter earnings of $1,461,000 ($0.17 per share) increased 24% from $1,178,000 ($0.14 per share) in the first quarter. Our balance sheet also continued to strengthen during the second quarter. Cash increased to $34,803,000 at December 31, 2009 from $27,737,000 at June 30, 2009 and working capital increased to $53,059,000 at December 31, 2009 from $49,935,000 at June 30, 2009.

 

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