Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks
DALLAS – May 13, 2011 /PRNewswire/ – Keystone Consolidated Industries, Inc. (OTCQB: KYCN), reported net income of $7.7 million, or $0.63 per diluted share, in the first quarter of 2011 as compared to net income of $4.4 million, or $0.36 per diluted share, in the first quarter of 2010. Sales volumes were significantly higher during the 2011 first quarter as shipments increased to 155,000 tons from 131,000 tons during the 2010 first quarter. In addition, the overall average selling price during the 2011 first quarter of $856 per-ton was 13% higher than the $755 per-ton overall average selling price during the 2010 first quarter. The increased selling prices resulted primarily from price increases the Company implemented in response to higher operating costs, including ferrous scrap.
Because the amount of the Company’s net periodic defined benefit pension and other postretirement benefit (“OPEB”) expense or credits are unrelated to the ongoing operating activities of the Company, Keystone measures its overall operating performance using operating income before pension and OPEB expense or credits. A reconciliation of operating income as reported to operating income adjusted for pension and OPEB expense or credits is set forth in the following table.
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.