startingboy
7 years ago
.50c wtf? this is crazy! At June 30, 2017, cash totaled $2,321,000 and represented 29% of stockholders’ equity of $8,074,600 and equity per share was 1.32.
David W. Menard, President and CEO, commented: “It is perplexing to me why the market price for Moro’s stock has recently been trading in the OTC marketplace for about $.50 per share which is 38% of book value. There is, in my opinion, a disconnect here which should eventually be recognized by the investment world.”
https://www.otcmarkets.com/news/otc-market-headline?id=862911
GuruTrader
16 years ago
Moro Corporation Reports Full Year 2008 Revenue at All-Time High; Expansion Programs Continue
Monday April 13, 2009, 11:15 am EDT
Buzz up! Print Related:Moro Corp.
WAYNE, Pa.--(BUSINESS WIRE)--Moro Corporation (OTCQX:MRCR) today announced that financial results for the twelve months ended December 31, 2008 were as follows:
Twelve Months Ended
December 31
2008
2007
Revenue $ 76,370,000 $ 64,020,000
Net income $ 452,000 $ 1,516,000
Earnings per share $ .07 $ .24
Average number of common shares outstanding
6,369,643 6,304,438
Related Quotes
Symbol Price Change
MRCR.PK 0.75 0.00
{"s" : "mrcr.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} Revenue for the twelve months ended December 31, 2008 was $76,370,000, an increase of 19% over the prior year period. The Mechanical Contracting Division accounted for 55% and the Construction Materials Division accounted for 45% of full year revenue.
Net income for the year ended December 31, 2008 was $452,000.
The Mechanical Contracting Division reported significantly lower earnings due to lower profit margins for several projects. The Construction Materials Division reported increased earnings due to higher gross profit margins on products sold.
David W. Menard, President and CEO, commented: “We did a good job growing the ‘top line’ during 2008. We hope to do a better job with the ‘bottom line’ in 2009. We continue to implement plans, including possible acquisitions, to expand our product lines, production/service capacity, market share and geographical coverage.”
Moro’s financial position is strong. At December 31, 2008, cash totaled $2,852,000 and represented 33% of stockholders’ equity. At December 31, 2008 equity per share was $1.34 versus $1.27 a year ago, an increase of 6%.
As the outlook for the overall U.S. economy continues to weaken there is a decline in the demand for many of Moro’s products and services. Moro and its competitors are vying for a piece of a smaller pie. By increasing product and service offerings and geographical coverage and having implemented deep reductions in operating costs that have now taken effect, Moro is confident that it will get through a difficult period that will likely last for two or more years.
The vast majority of Moro’s business has a non-residential focus. The Federal Government’s infrastructure stimulus program should benefit the Company.
Moro is a profitable and financially strong multi-subsidiary and eleven-location construction products and services company engaged in the (a) fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), and process piping, (b) distribution of construction steel, miscellaneous steel and construction accessories, and (c) industrial/commercial/residential mechanical contracting services (HVAC, plumbing, and piping).
For more information, contact David W. Menard, President and CEO, at 484-367-0300, fax 484-367-0305.
Statement under the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements regarding, among other things, the anticipated profitability and continued growth of the company. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the continued ability of the company to generate operation profits, the lack of continued demand for the company’s products, the ability to locate and acquire suitable acquisition opportunities, and if acquired, the failure of any such businesses to generate operating profits.
Contact:
Moro Corporation
David W. Menard, President and CEO, 484-367-0300
Fax: 484-367-0305
ghmm
16 years ago
http://finance.yahoo.com/news/Ahead-of-the-BellHVAC-may-apf-14101254.html/print
Ahead of the Bell:HVAC may benefit from Obama plan
US stimulus plan could benefit heating, ventilating, air conditioning manufacturers: analyst
I must admit to being very surprised to see this but pleasently so. A major segment of our business is HVAC think we do more smaller ones but we get one or two it could really help us. The other segment (rebar) should benefit for sure especially in PA/NJ/NY where there are a lot of bridges in need of repair. Saw a story on PA as ranked with one of the worst bridges in the country.
* Tuesday January 20, 2009, 8:43 am EST
HARTFORD, Conn. (AP) -- Legislation in Congress intended to increase public works spending could aid manufacturers of heating, ventilating and air conditioning systems, an analyst said Tuesday.
However, Analyst Jeffrey D. Hammond of KeyBanc Capital Markets said in a note to investors that he is "somewhat guarded" about the impact of the plan.
Spending sought by incoming President Barack Obama as an economic stimulus includes $40 billion that may have "positive implications" for the heating, ventilating and air conditioning industry, he said. A focus of the legislation is to renovate government buildings to improve energy efficiency, he said.
Companies that could benefit are Ingersoll Rand Co. through its Trane subsidiary, Lennox International Inc. and Regal Beloit Corp., Hammond said.
The legislation presents a "solid outline of actions, which has a positive read through for HVAC equipment and service providers, likely beginning in 2010," he said.
"That said, given the numerous steps in vetting and appropriating government stimulus, we are somewhat guarded with respect to the magnitude of any impact," Hammond said.
ghmm
16 years ago
I am a little surprised the company put out a PR. Its not like there is much volume probably just 1 person sold didn't care the price. This seems to happen occasionally with the stock though today perhaps the 2k shares was a little more then other times. Frankly I would have preferred not to see a PR as I was the buyer today.
http://biz.yahoo.com/bw/090105/20090105005936.html?.v=1&printer=1
Volativity of Moro Corporations Stock Price
Monday January 5, 2:42 pm ET
WAYNE, Pa.--(BUSINESS WIRE)--Moro Corporation (OTC:MRCR - News) – David W. Menard, President of Moro Corporation today announced that there are no events known to him that would justify the Monday, January 5, 2009 sale of Moro’s common stock at $.60 per share versus the last trade of $1.25 on Friday, January 2, 2009 and on Wednesday, December 31, 2008.
ADVERTISEMENT
Moro’s 2008 revenues will be approximately $75,000,000 which will be 17% greater than the $64,000,000 reported for 2007. During 2007 after tax profits were $1,516,000 or $.24 per share.
For the nine months ended September 30, 2008 after tax profits were $769,000 or $.12 per share. At September 30, 2008 stockholder’s equity was $1.39 per share.
Moro recently moved its commercial banking relationship to TD Bank, N.A. where it obtained a credit line of $15,000,000 of which $12,000,000 is a two year revolving line of credit secured by accounts receivable and inventory at an interest rate of thirty day LIBOR plus 200 basis points. As of today, this interest rate formula translates to a low annual interest rate of 2.43%.
Although there is considerable uncertainty in today’s economy, Moro has a strong financial position and is operating at a profitable level.
Most of the products and services provided by Moro fall under the category of “infrastructure” which our Washington politicians are telling us will be a major focus of government economic stimulus during 2009. Such stimulus should be good for Moro.
Moro is a profitable and financially strong multi-subsidiary and eleven-location construction products and services company engaged in the (a) fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), and process piping, (b) distribution of construction steel, miscellaneous steel and construction accessories, and (c) industrial/commercial/residential mechanical contracting services (HVAC, plumbing, and piping).
For more information, contact David W. Menard, President and CEO, at 484-367-0300, fax 484-367-0305.
Statement under the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements regarding, among other things, the anticipated profitability and continued growth of the company. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the continued ability of the company to generate operation profits, the lack of continued demand for the company’s products, the ability to locate and acquire suitable acquisition opportunities, and if acquired, the failure of any such businesses to generate operating profits.
Contact:
Moro Corporation
David W. Menard
President and CEO
484-367-0300
Fax: 484-367-0305
ghmm
16 years ago
Pressure Builds for Infrastructure Outlays
Regardless of the concerns in this article I think it is an extremely high probability there is significant spending in infrastructure. Since I don't (currently) own any rail related stocks I say forget the railroads fix our roads and bridges :). Disclosure I am long MRCR, SMID and IRD.TO which would benefit from road and bridges.
http://online.wsj.com/article/SB122705499948839373.html?mod=todays_us_page_one
WASHINGTON -- Business and labor groups are ramping up a lobbying campaign to persuade President-elect Barack Obama and the next Congress to back a huge boost in infrastructure spending in an effort to create jobs and kick-start economic growth.
These interest groups have increased their investments in Washington. The general-contracting sector, for example, gave $22.6 million of political donations during the 2007-08 election cycle, a 22% increase from the 2006 election.
The construction lobby is asking Congress to quickly approve $18 billion for highways and bridges and an additional $10 billion for water-infrastructure projects. Railroads want new tax incentives to add track to ease congestion at choke points. The aviation industry wants to boost a federal program for runway construction. And telecommunications firms want tax breaks to expand broadband service, while electric utilities want incentives to modernize the transmission grid.
The lobbying push comes as a broad economic-stimulus bill with $13 billion of transportation spending appears headed for a defeat in Congress this week. Advocates of infrastructure spending are seizing on everything from rising unemployment to last year's bridge collapse in Minneapolis to argue for outlays for various projects.
"We are driving infrastructure to the top of the agenda," said Janet Kavinoky of the U.S. Chamber of Commerce, who appeared with an ally from the United Steelworkers union Tuesday at a forum sponsored by the Campaign for America's Future, a left-leaning think tank.
Industry lobbyists say economic turmoil and the government's bailout of other market sectors has given them hope for success. Many feel there will be more emphasis on public-works funding next year, once Democrats are in charge of the White House and Congress.
"As a general rule, Democrats are inclined to be more favorably disposed to infrastructure investment as an economic stimulus than Republicans," said Todd Hauptli, a lobbyist for the American Association of Airport Executives.
Infrastructure proponents aren't counting on any quick fix next year. Among the obstacles they face: a federal deficit that could hit $1 trillion next year alone and a raft of competing policy proposals.
Congress is also due to take up a six-year highway bill that could carry a $500 billion price tag. Debate on that legislation could pit lobbyists for other modes of transportation, such as railroads, against supporters of more spending on roads.
Looming over it all is the question of how to pay for a big wave of public works. Gasoline-tax receipts, the main source of federal transportation dollars, have been falling this year as Americans cut back on driving. A commission created by Congress this year recommended more than doubling gas taxes from the current 18.4 cents a gallon. But Mr. Obama and his aides steered well clear of advocating any increase during the campaign.
Meanwhile, some of those pushing to increase infrastructure spending fear the next White House might choose other priorities -- such as narrowing the budget deficit or opting for other forms of stimulus spending.[Obama has publicly stated and sited economists in saying stimulating the economy is more important even if we put the deficit issue aside for a couple years]
"The election of Obama offers opportunity. It doesn't guarantee anything," Rep. Keith Ellison (D., Minn.) said Tuesday, cautioning transportation lobbyists against overconfidence.
If lobbyists succeed in getting something approaching what Democratic Rep. Lynn Woolsey of California on Tuesday called "a new New Deal," it will be a significant shift. Over the past couple of years, construction lobbies have repeatedly failed to get lawmakers to approve big increases in infrastructure spending. Their only recent success was getting Congress in September to put $8 billion into the rapidly depleting Highway Trust Fund, the main source of federal transportation dollars.
"There is a lot of pent up demand," Mr. Hauptli said.
Write to Christopher Conkey at christopher.conkey@wsj.com and Brody Mullins at brody.mullins@wsj.com
ghmm
16 years ago
Moro Corporation Reports 3rd Quarter 2008 Sales Increase of 28% over Year Ago Period; Nine Month Book Value Per Share up 9%
http://biz.yahoo.com/bw/081104/20081104005948.html?.v=1
Tuesday November 4, 12:14 pm ET
WAYNE, Pa.--(BUSINESS WIRE)--Moro Corporation (OTC:MRCR - News) today announced that financial results for the three and nine months ended September 30, 2008 were as follows:
Three Months Ended
Nine Months Ended
September 30
September 30
2008
2007
2008
2007
Revenue $ 22,777,000 $ 17,784,000 $ 55,095,000 $ 47,916,000
Net income $ 695,000 $ 795,000 $ 769,000 $ 1,548,000
Earnings per share $ .11 $ .13 $ .12 $ .25
Average number of common shares outstanding
6,369,643 6,282,143 6,369,643 6,282,143
Revenue for the third quarter of 2008 of $22,777,000 was 28% greater than for the year-ago period. The Construction Materials Division (mainly concrete reinforcing steel) represented 45% of total revenue and the Mechanical Contracting Division (mainly HVAC products and services) accounted for 55% of total revenue for the third quarter.
Net income for the third quarter was $695,000. Earnings per share for the third quarter were $.11. Both the Mechanical Contracting Division and the Construction Materials Division were strong contributors to profits.
Revenue for the first nine months of $55,095,000 was 15% greater than for the year-ago period. The Construction Materials Division represented 48% of total revenue and the Mechanical Contracting Division accounted for 52% of total revenue for the nine-month period.
Net income and earnings per share for the nine-month period of $769,000 and $.12, respectively, were below the results reported for the year-ago period. The Mechanical Contracting Division reported a revenue increase of 20% over the prior year period. However, profits were substantially less than those reported for the prior year for the following reasons: (a) the commercial segment of this Division did not have contracts that were as profitable as those for the previous year, and (b) the residential segment experienced a wide gap between selling prices and labor and operating expenses due to the turmoil in overall housing and financial markets. The Construction Materials Division reported an 11% revenue increase and net income that was 93% greater than for the prior year period. This division benefitted from higher profit margins caused by an increase in the difference between selling prices and the cost of purchased steel and operating costs.
David W. Menard, President and CEO, commented: “These are tough times for businesses serving the construction industry. I feel fortunate that Moro, on an overall basis, is doing reasonably well. We continue to expand our topline (revenue), by broadening our program’s reach and opening new branches, and searching for expansion opportunities including possible acquisitions and joint ventures.”
Moro is a profitable and financially strong and multi-subsidiary eleven-location construction products and services company engaged in the (a) fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), and process piping, (b) distribution of construction steel, miscellaneous steel and construction accessories, and (c) mechanical contracting services (HVAC, plumbing, and piping).
For more information, contact David W. Menard, President and CEO, at 484-367-0300, fax 484-367-0305.
Statement under the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements regarding, among other things, the anticipated profitability and continued growth of the company. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the continued ability of the company to generate operation profits, the lack of continued demand for the company’s products, the ability to locate and acquire suitable acquisition opportunities, and if acquired, the failure of any such businesses to generate operating profits.
Contact:
Moro Corporation
David W. Menard
President and CEO
484-367-0300
Fax: 484-367-0305
ghmm
17 years ago
The Moro Companies 12/28/2008
Moro Corp. (The Holding Company) http://www.morocorp.com/
- Current Ownership in 5 companies
Colmen Menard (Mr. Menard's Firm) http://www.colmenmenard.com/
- Firm does investment banking. Believe it is currently not very active. In addition to Mr. Menard, Mr. Corr plays an active role in Moro
The Companies
1) JM Ahle
. Acquired April 3, 2000
. Purchase Price $1,406,212
. Fabricator and distributor of reinforcing steel to contractors and subcontractors for use in the construction of highways, airports, bridges, treatment facilities, schools, public facilities, industrial and commercial buildings, and other structures.
. http://www.jmahle.com/
2) Rado Enterprises
. Acquired October 2, 2002
. Purchase Price $2,424,000
. Mechanical contractor engaged in various plumbing and HVAC
. http://www.radoenterprises.com/
3) Whaling City Iron
. Acquired April 12, 2004
. Purchase Price $655,159; Funded ($245K Cash on Hand, $75,159 liquidation of acquired assets, balance with Notes/Bank Debt)
. More details on the transaction (assets of Whaling) can be found in the 2004 Moro Annual Report
. Est. 11 Employees (D&B), Fabricates and distributes concrete reinforcing and structural steel
. http://www.wciron.com/
4) Appolo Heating
. Acquired March 1, 2006
. '05 Sales $12.6 Million, Revenue $1.1 Million
. Purchase Price: $3,307,275; Funded ($1.1 Million Cash on Hand, 950K in 10% Convertible Note, 50k sale of 5% interest in Appolo, balance with Notes/Bank Debt)
. More details on the transaction (assets of Appolo) can be found in the 2006 Moro Annual Report and some information also in the 2005 Moro Annual Report)
. 125 Employees, HVAC Contractor
. http://www.appoloheating.com/
5) J & J Sheet Metal Works
. Acquired November 1, 2007
. (Terms not yet disclosed)
. 45 Employees, Fabricator of Sheet Metal HVAC Products
. http://jjservicegroup.com/
ghmm
17 years ago
I like to make the I-Box small, since the Old I-Box Info had some useful info its contents are being transferred to a regular message post. Its contents are below.
Contact Information Business Description
994 Old Eagle School Rd.
Suite 1000
Wayne, PA
19087
United States
http://www.morocorp.com
Phone: 484-367-0300
E-mail: info@morocorp.com
Moro Corporation is an industrial holding company specializing in the acquisition and management of industrial distribution, manufacturing and services businesses serving niche markets.
Moro is engaged in the fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), structural steel and process piping; the distribution of construction steel, miscellaneous steel and construction accessories; and mechanical contracting services (HVAC, plumbing, piping).
Main SIC Code
3449 - Miscellaneous metalwork
State Of Incorporation
DE
Country Of Incorporation
USA
Year Of Incorporation
1992
Company Officers
David W. Menard, President
Lawrence J. Corr, Vice President
Number of Employees
250 as of Nov 17, 2006
Number of Company Locations
8 as of Nov 17, 2006
Edgar Filing Status
De-registered Edgar filer
CIK
0000940800
Fiscal Year End
12/31
Outstanding Shares
6,282,143 as of Feb 15, 2007
Estimated Market Cap
14,134,821.75 as of Mar 7, 2007
Authorized Shares
25,000,000 as of Feb 1, 2007
Float
800,000 as of Feb 1, 2007
Number of Share Holders of Record
195 as of Feb 1, 2007
Company Notes
Formerly=Food Court Entertainment Network, Inc. until 6-99
Class Notes
New Issue=10-95 2,800,000 shs in Units (1 sh Series A Com, 1 Class A Warr 10-11-2000 & 1 Class B Warr 10-11-2000) at $5 per unit by D.H. Blair Investment Banking Corp.
Transfer Agent
Stocktrans, Inc.,
1st Pennsylvania Bank Bldg.
7 E. Lancaster Ave.
2nd Floor
Ardmore, PA
19003
USA
Company Auditor
RSM McGladrey & Pullen
Blue Bell, PA
19422
USA
Legal Counsel
Lurio & Associates, PC
2005 Market St.
Suite 2340
Philadelphia, PA
19103
USA
Investor Relations Firm
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greasemonkeyshoes
7 years ago
