Buzz Stock of the Day – SMTC Corp. (SMTX)

Shares of SMTC Corp. (Nasdaq: SMTX) were up more than 25 percent on 2500-times the Ontario-based company’s three-month average volume today.

SMTC Corp. reported a first quarter net loss of $2.5 million on revenue of $48.5 million, compared to a net loss of $100,000 on revenues of more than $55 million in the year ago period. “Virtually all our customers were affected by the global recession as end market demand and inventory reductions impacted their first quarter production requirements.” Caldwell said SMTC has “undertook action to significantly reduce our cost structure, eliminate excess capacity and shift production to lower cost geographies.” Gross profit for the first quarter of 2009 decreased by $1.6 million, or 36.4%, to $2.8 million when compared to the same period in 2008. Raw materials sales for the quarter was up $500,000 over the first quarter of 2008.

According to Yahoo Finance, SMTC Corp. generated $3.8 million in EBITDA on $235.9 million in the trailing 12-month period. The company has about $445,000 of cash in the bank, and about $21 million of debt.

SMTC generated about $4.2 million in operating cash flow for the trailing 12-month period.

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Tags: buzz stocks, micro cap, nasdaq, small cap stocks, SMTX, technology

This entry was posted on Tuesday, June 30th, 2009 at 9:15 pm by admin and is filed under Industrial Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.