Wednesday, September 23, 2009

KSW Claws Back

Long time readers may recall that we noted that shares of KSW Mechanical Services (Nasdaq: KSW), Inc. plummeted last December when two projects comprising about 40% of its backlog were put on hold in the same week. On Monday, KSW announced that the larger of those two projects has been resumed.

Readers may also recall this post from March, where we noted that KSW's corporate counsel Jim Oliviero mentioned the company was competing for a World Trade Center project. Yesterday, the company announced it had been awarded this contract. The company predicted in its press release that its backlog would total $129 million as of the end of this quarter. Before the drop last December, the company's backlog totaled $139 million.


Value Investing said...

Totally forgot about this company, TPC is also doing well after MGM didn't file for bankruptcy and signs of credit markets getting back to normal


DaveinHackensack said...

I sold out of TPC a week or two ago. I'm gradually selling off companies I'm not as enthusiastic about. I'm not as enthusiastic about KSW's upside as I am, say, that of USEG or AYSI.OB -- i.e., I don't think it has 5- or 10-bagger potential like those two -- but I think it is too cheap to sell here. If the economy holds up long enough, I could see it rising another 50% or more.