Likes this company. A good story. Tremendous amount of free cash flow. New management has restructured the company nicely. They now have top start to grow by acquisition.
A diversified company that has disapponted since the spring. Have had to reset expectations for free cash flow. A little concerned that management are not on top of things well enough.
The fact that this stock has traded off quite dramatically there should be some decent support in the $26/28 area. Could be a small bounce, but expects it would roll over into 2006 with lower lows.
Missed their numbers slightly, but the big news is, it is being split up into different component parts. This will take a year which is a long time. The danger is, they could take their eye off the ball. There are better places for your money.
Bought the stock when it had been hit hard because of missed estimates and was trading at a significant discount. Will be split into healthcare, electronics and home securities divisions in June. All 3 are very nice businesses.
Fire protection, securities and safety products business. A play on the US recovery but feels there are better plays, not only from the standpoint of breadth, but also what vehicle you use. Trading at about 18X earnings which is expensive. He would stand back and watch this for a while.
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