Company Update: Blair
Up 37 percent since initial report (2/14/03)
Shares of Blair Corp, a small mail order apparel company are up 37 percent since our initial report on 2/14/03. Just like the other companies we initially profiled on this site, the company no longer trades below its net current asset value. Nonetheless, the company still boasts a rock-solid balance sheet, with $35 million in cash (or about $4.50 per share), and no long-term debt.
While third quarter sales ($107.1 million) were down 14 percent from the same period last year ($124.1 million), net income was up significantly, from $793 thousand to $2.9 million. The company has been successful in cutting costs, boosting margins, and garnering more revenue from the e-commerce side of its business.
The company also continues to pay a $.15 quarterly dividend, and yields 1.68 percent. Blair is the epitome of a successful NCAV company: Solid balance sheet, unrecognized value in the marketplace, and profitable. Patient investors have been rewarded nicely.
OUR NEXT REPORT
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