RMIXQ - U.S. Concrete, Inc. - PINK

[Dben]

Ended up buying more a few days ago at .554 so my average is .6104
should of bought more ~

[stretcher25]

US Concrete Warns On Liquidity; 4Q Results Miss Views >RMIX
Wednesday 03/10/2010 6:41 AM ET - Dow Jones News

U.S. Concrete Inc.'s (RMIX) fourth-quarter loss narrowed amid lower write-downs as the maker of ready-mixed concrete warned its liquidity has weakened further into 2010 amid a prolonged construction slowdown, with added stress from severe weather in recent months.
The company, while still in compliance with its amended credit agreements, had said it retained financial and legal advisors to assist in assessing potential strategies to restructure its debt. Leverage stood at $292.3 million at year's end, while the company had just $4.2 million of cash on hand and $45.3 million of credit-line borrowing capacity.
Things have gotten worse since, with Chief Financial Officer Robert D. Hardy saying liquidity--including cash and credit revolver availability--dropped significantly as of the end of February. "Absent a successful restructuring, there is substantial doubt about our ability to continue to operate as a going concern, he added.
Meanwhile, President and Chief Executive Michael W. Harlan said volume is off about 20% this year through February owing to the harsh weather.
As for the fourth quarter, U.S. Concrete reported a loss of $16.7 million, or 46 cents a share, compared with a prior-year loss of $132.2 million, or $3.63 a share, which included $3.29 a share in write-downs.
Revenue tumbled 31% to $119.9 million amid a 34% drop in volume.
Analysts polled by Thomson Reuters most recently forecast a loss of 31 cents on revenue of $122 million.
Shares closed Tuesday at 58 cents and didn't trade premarket. The stock is down 62% in the past year.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd=4LDqOAk9RAxINqusduiZFw%3D%3D. You can use this link on the day this article is published and the following day.


(END) Dow Jones Newswires
03-10-10 0641ET
Copyright (c) 2010 Dow Jones & Company, Inc.

[Dben]

man ! should of sold at .67 last week. Doubled down today at .3615 my new average is .485  i will get out even or with a gain !!

[pennygainer]

Hi Dben,

man ! should of sold at .67 last week. Doubled down today at .3615 my new average is .485  i will get out even or with a gain !!

Not a good idea you should have waited...

[Dben]

Hi Dben,

man ! should of sold at .67 last week. Doubled down today at .3615 my new average is .485  i will get out even or with a gain !!

Not a good idea you should have waited...

Penny, you think it might go even lower?. It think it at bottom or very near.

[Vegas]

Hi Dben,

man ! should of sold at .67 last week. Doubled down today at .3615 my new average is .485  i will get out even or with a gain !!

Not a good idea you should have waited...

Penny, you think it might go even lower?. It think it at bottom or very near.

I wouldn't panic yet guys... It is forming a pincher... Should be a run on the horizon...

[Dben]

Hi Dben,

man ! should of sold at .67 last week. Doubled down today at .3615 my new average is .485  i will get out even or with a gain !!

Not a good idea you should have waited...

Penny, you think it might go even lower?. It think it at bottom or very near.

I wouldn't panic yet guys... It is forming a pincher... Should be a run on the horizon...

Vegas true. We you see so many bashes all day in the yahoo board, you know somethings up. They have to cover eventually. Just hope i dont get surprised with a BK announcement. But i dont see that in the near future.

[pennygainer]

Hi Dben,

I am sorry for down of 4.5%. for me .02 cents is big amount

[Dben]

Hi Dben,

I am sorry for down of 4.5%. for me .02 cents is big amount

Yeah not looking good so far. The only thing that worries me is if the come out with BK news!! that would totally collapse the share price. I will see what strategy i use, cause i dont want to be caught off guard. These bozos have to cover soon ~

[Dben]

pinching  looking much better today. Hope it holds ~

[Vegas]

pinching  looking much better today. Hope it holds ~

Looks good Dben... Hope it takes off for you today... The RSI(14) is filling the gap to .30 real fast... 

[Dben]

pinching  looking much better today. Hope it holds ~

Looks good Dben... Hope it takes off for you today... The RSI(14) is filling the gap to .30 real fast... 

Vegas, i guess today is not the day...hope i knew how low they want this to go !

[Vegas]

Today was the second time the pincher run was denied... I thought today it was going to go for sure... Hopefully next week it will run for you guys...

[Dr PennyStock]

The MACD is not oversold enough, and, the -DI and the ADX line still have room to run, this stock will test .25 - .2 before any attempt to pinch, IMO.

[Dben]

Close at .36