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Message Boards Settings Gorman-Rupp Company (GRC) - Quote Info
Aggressive accounting or borderline fraud at GRC?     28-Oct-09 01:24 pm    
Over the last 12 months, GRC has generated no cash. In all of 2008 too, free cash flow was zero while the company reported good "earnings". This is usually a sign of aggressive accounting or borderline fraud. Capex has been running 4x depreciation. It looks like the company is merrily spending on capex without depreciating properly. Even in a best case scenario, one of these quarters, a big slug of depreciation is going to hit and the company will miss estimates. Even without that, if you put a 15x multiple on forward earnings, you get a $16 stock. Actual earnings may turn out to be only half as much.
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Aggressive accounting or borderline fraud at GRC?
shortofanam... Not rated 28-Oct-09 01:24 pm  
 
After years of underinvesting on plant, GRC has be...
t.doyle35 Rate it 31-Oct-09 03:46 pm  
 
you must be reading the wrong report, or no unders...
king_foo_ba... Rate it 3-Nov-09 02:11 pm  
 
Their earnings have been slowly declining (recessi...
jonluxy Rate it 6-Nov-09 01:28 pm  
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Gorman-Rupp Co. (GRC)

Chart for Gorman-Rupp Co. (GRC)
On Dec 24: 27.02 Down 0.94 (3.36%)
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