China Manufacturing IPO: Asia Time Corporation
posted on: February 10, 2008
| about stocks:
TYM
-
Font Size:
Asia Time Corporation (TYM) is a distributor of watch movement components used in watch manufacturing. The company plans to go public this week.
All quotations are from the company's most recent S-1 filings with links provided.
Business Overview (from prospectus)
We are a distributor of watch movements components used in the manufacture and assembly of watches to a wide variety of timepiece manufacturers. Our core customer base consists primarily of large wholesalers, online retailers and small and medium-sized watch manufacturers that produce watches primarily for sale to customers in Hong Kong and China. To a lesser extent, we design watches for manufacturers and exporters of watches and manufacture and distribute complete watches primarily to online retailers and internet marketers.
Offering: 0.7 million shares at $3.00 - $4.00 per share. Net proceeds of approximately $1.8 million will be used for expansion of operations, working capital, and general corporate purposes.
Lead Underwriters: Westpark Capital
Financial Highlights:
Net sales for the three months ended September 30, 2007 was $23.0 million as compared to $19.6 million for the comparable period in 2006, an increase of $3.3 million, or 16.9%... Cost of sales for the three months ended September 30, 2007 was $18.4 million, or 80.1% of net sales, as compared to $17.3 million, or 88.2% of net sales, for the same period in 2006... Gross profit for the three months ended September 30, 2007 was $4.6 million, or 19.9% of net sales, compared to $2.3 million, or 11.8% of net sales for the same period in 2006...
Competition:
The watch movement distribution industry is highly competitive, primarily with respect to price, product availability, knowledge of product and quality of service. We believe that the breadth of our customer base, services and product lines, our level of technical expertise and the overall quality of our services are particularly important to our competitive position. We compete with large distributors such as National Electronics Holding Ltd., as well as mid-size distributors, such as PTS Resources Ltd., many of whom distribute the same or competitive products as we do.Our major competitors in complete watches include designer brands from overseas, China and Hong Kong such as Guess, Calvin Klein and Dolce & Gabanna.
Get Seeking Alpha Free Stock Alerts by Email!
Get Free Stock Alerts by Email!
Symbols:
-
Editor's Picks
-
Most Popular
- Ecolab: Strong Price Momentum and High Quality Financials
- Assurant Is A Compelling Short Sell
- Broadcom Enters FTTH Chipset Market
- Another Macroshares Oil Arbitrage Opportunity
- Freeport McMoran: With Copper Prices Rising, It's Still a Buy
- Oil and the Futures Market
- Full list of Editor's Picks »
- High Likelihood of a Market Crash »
- Time To Start Buying Some Dogs? »
- Sirius-XM Combination: A Future Microsoft Acquisition? »
- 7 Stocks I'm Buying Now »
- High-Yield Canadian Royalty Trusts: What's the Catch? »
- JP Morgan Offer for Wachovia Makes Sense »
- Adding to My GE Position »
- 7 Stocks for a High Yield Cash Flow Portfolio »
- Drybulk Shipping: Prepare for a New Record High »
- Nokia: Bargain of a Lifetime - Barron's »
- Top 10 Payout Yield Stocks »
-
Long Ideas
-
Short Ideas
-
Cramer's Picks
- Time Warner's Due for a Comeback - Barron's
- Pep Boys: Price Skid Presents Long Opportunity
- Spectra Energy: Gas Pipelines Make Great Recession Proof Stocks
- Barron's Drinks to Constellation
- Adding Wood to Your Portolio: A Worthwhile Investment
- Arkansas Steel: 10 Structural Changes That Should Trump the Business Cycle
- Gross Margin Drivers at Potash Corp. (Part II)
- A New Strategy for EXACT Sciences
- Cytori Therapeutics: The Stem Cell 'Celution' for Success
- LDK Solar: The Brightest Opportunity?
- Full list of Long Ideas »
- Crystal River’s Q2 Write-Downs Could Bankrupt the Company
- Assurant Is A Compelling Short Sell
- Fuel Systems Solutions: Time to Take Profits
- GM an Unlikely Hero - Fast Money Recap (7/1/08)
- Pair Trade Visa and Capital One
- Amazon's Kindle Numbers: All Fluff, Zero Substance
- A. Schulman: Cashless Profits
- Titan Machinery: Doesn't Anybody Look at Valuation?
- Goodrich Petroleum: Gas in the Ground Doesn't Mean Cash in the Bank
- Outlook Remains Grim for MBIA, Ambac
- Full list of Short Ideas »
- StanCorp a Safe Financial - Cramer's Lightning Round (7/2/08)
- Momentum Stocks Stalled - Cramer's Stop Trading! (7/3/08)
- Expecting a Lift for Pediatrix: Cramer's Mad Money (7/3/08)
- The Most Bullish Thing - Cramer's Stop Trading! (7/1/08)
- Exelon's Got Nukes - Cramer's Lightning Round (7/1/08)
- Prescription Prediction for Allscripts - Cramer's Mad Money (7/1/08)
- Rex Marks the Spot - Cramer's Lightning Round, (6/30/08)
- Medicare Bill Buys - Cramer's Mad Money (6/30/08)
- Cracker Bottom of the Barrel - Cramer's Lightning Round (6/27/08)
- Britannia Bulk Rules the Waves - Cramer's Mad Money (6/27/08)
- Full list of Cramers Picks »
Most Popular Feeds
-
ETFs
-
US Market
-
Long Ideas
-
Alt. Energy
- Full list of feeds »
Hedge Fund Jobs
Job Seekers:
- Search jobs by category
- Get job alerts by email or live feed
- Apply online
Employers
- See all recruitment options
- Get applications online or by email


