Cramer Gets Behind Fuel Systems Solutions (FSYS) - Again
One of the better earnings report this quarter was from one of our old holdings - Fuel Systems Solutions (
). This was a sort of secondary play on the commodity mania we enjoyed in latter 2007 through summer 2008; they make natural gas fuel systems. We dropped the last portion of our position
in September 2008 at $46 with a nearly $23K gain (in our old portfolio in Marketocracy.com) Sometimes we forget what sort of times we lived through in September and October 2008 (20% drop in 1 week on the indexes) and again in mid Jan - early March 2009, but the stock fell as low as $10.
It had since rallied back to upper $20s before the
earnings report earlier in the month.
- Fuel Systems Solutions Inc. on Thursday reported second-quarter results that beat analysts' expectations. For the quarter that ended June 30, Fuel Systems earned $7.4 million, or 46 cents per share, compared with a profit of $4.6 million, or 29 cents per share, in the year-ago quarter. Analysts polled by Thomson Reuters expected a profit of 32 cents per share.
- Revenue fell 6 percent to $92.3 million, topping analysts' average estimate of $87.7 million.
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