Premier Exhibitions, Inc. (PRXI) has been on quite a tear lately, surging close to 70% since the beginning of 2007. Their Q3 conference call (1/10/07) announced another great quarter, and I especially appreciated the fact that written transcripts were available. Key takeaways:
- Revenues of $7.9M
- Titanic exhibits are fully booked.
- Considering three options for monetization of Titanic assets.
- Two Bodies exhibits to be added late spring.
- Scrims (fabric walls) should save $1M annually, (5 exhibits * $100K / exhbit * 2 setups / year)
- Growing cash of $10.2M and no debt.
- $3.3 M revenues during the week of 12/26/06 to 1/2/07, which promises an excellent Q4.
As a side note, value investors generally don't try to time the market. I've held this stock for under a year, with little substantial movement until the past few weeks. It's hard enough to be right about a stock. I doubt there's any way I could've predicted the timing of this action. When time permits, will post my updated writeup.