Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, August 27, 2010

Article Excerpt

AMERICAN WOODMARK $15.67, symbol AMWD on Nasdaq, is a major U.S. maker of cabinets for kitchens and bathrooms. It sells its cabinets under the American Woodmark, Timberlake and Shenandoah brands. In the three months ended July 31, 2010, American Woodmark lost $3.4 million, or $0.24 a share. Still, that’s a lot better than the $6.4 million, or $0.45 a share, it lost a year earlier. If you exclude one-time restructuring charges, the company would have lost $0.34 a share a year ago. Sales rose 8.4%, to $109.3 million from $100.8 million. The company’s recent cost cuts, including lower labour costs, were the main reason for the improved results. In the last year, American Woodmark has laid off a number of salaried employees, closed two less-efficient plants and suspended production at a third. Savings from the restructuring offset higher costs for raw materials and fuel. Both new construction and remodelling sales rose in the latest quarter. The company holds cash of $51.8 million, or…