they announced a deal with everett labs after the bell..this is big..stock should open over 25 tomorrow...after 25,it goes to 26.
Hey Hit do tell a little more. Of course I have an endless history with this stock since it's IPO been in and out many times. The main neg is the EXTREME overcapacity the company has on the production side-- they ramped up for food additives for their seaweed mix and the food companies never came a knockin' and the Gov really isn't pushing anyone to use MATK's stuff. Everett labs? Why is that so big for MATK? ~stoney
If you're still in MATK Hitman you may want to get out. âHeard on the Streetâ column discusses Martek Biosciences (MATK), saying that one of its accounting methods has led to concerns that Martek is trying to make profits look more robust than they really are. The bone of contention: Martek's treatment of what it calls "idle" assets. Martek noted in its F1Q results that it has $94.3m of property, plant and equipment, "being held for future use." Martek doesn't depreciate assets designated this way. Such an approach is pretty rare; coâs typically depreciate assets that they are either using or could be using. Martek's approach lessens the bite that depreciation charges take out of net profit. In F07, the move could boost net profit by about $3.9m, or about 20%, according to Glass, Lewis & Co. A similar gain over the past year could have helped the co avoid 2 consecutive years of declining net profit. Plus, if Martek was fully depreciating its assets and taking a bigger hit to profit, the co's share price would be an expensive 37x expected F07 earnings, as opposed to its current multiple of 30x. Robert N. Freeman, an accounting professor at the University of Texas, said "You're in a gray area."