CHB - Champion Enterprises, Inc. (NYSE Stock)

[thegreatgate]

Champion Enterprises, Inc. (Champion) is a producer of factory-built housing in the United States and Canada. The Company is also a producer of steel-framed modular buildings in the United Kingdom for uses, such as prisons, military accommodations, hotels and residential units, among other applications. As of January 3, 2009, Champion's North American manufacturing operations (the manufacturing segment) consisted of 26 homebuilding facilities in 14 states and three provinces in western Canada. As of January 3, 2009, its homes were sold through approximately 1,600 independent sales centers, builders and developers across the United States and western Canada and also through its retail segment that operates 14 sales offices in California. On February 29, 2008, the Company acquired United Kingdom-based ModularUK Building Systems Limited (ModularUK).

6-month daily chart at 3:30pm, 200dma is at 72 cents:


^^I bought a few shares today at .545 and .548

[thegreatgate]

Risky risky risky!!

[paperchase]

im in at .449... thanks for the charts on CHB gg..

[mike_d]

Originally Posted by paperchase

im in at .449... thanks for the charts on CHB gg..

i am in .449-.4498, gltya

[lovemoney]

I got in also at .45

[Aufan 1983]

Guys this is a risky play as any sub dollar stock is. On a bright note Champion is in talks with a 3rd party for a huge investment into their company. If this happens we are sitting on a double at the least.

Play with only what you can afford to lose. If you need security move up to the big boards and relax but if you enjoy the rush then you are in the right spot....lol

[Weirdharold]

funny, I some how view successful talks with the investor being something which will bring more dilution to the current shareholders.

[Volatile22]

CHB falling back. Im waiting to see where it bases today, might average down when it does

[BadThad]

They are in bad shape:

Champion Enterprises, Inc. - Google Finance

CHAMPION ENTERPRISES INC. is a leading producer of manufactured housing and mid-size commercial vehicles. Co.\'s manufactured housing operations and markets are located throughout the U.S. and in western Canada. Co.\'s commercial vehicles are marketed throughout the U.S. and Canada. Champion Enterprises Inc. has a market cap of $44.3 million; its shares were traded at around $0.57 .

Highlight of Business Operations:
Pretax loss for the quarter ended July 4, 2009 was $13.3 million, compared to a pretax income of $3.6 million in the second quarter of 2008. Pretax loss for the quarter ended July 4, 2009 included foreign currency transaction gains of $2.0 million on intercompany loans and restructuring and other plant closing charges of $2.7 million. Pretax loss for the quarter ended June 28, 2008 included foreign currency transaction gains of $0.6 million on intercompany loans.



Pretax loss for the six months ended July 4, 2009 was $31.9 million, and included a $4.3 million gain from the final settlement of insurance claims, foreign currency transaction gains of $1.3 million on intercompany loans and restructuring and other plant closing charges of $2.9 million. Pretax loss for the six months ended June 28, 2008 was $17.3 million and included restructuring and other plant closing charges totaling $9.8 million, primarily from the closure of two manufacturing plants, foreign currency transaction losses



$4.3 million gain resulting from settling the insurance claim for the February 2008 Henry, TN plant fire and the idling of one of the two manufacturing plants at our complex in Indiana that resulted in no significant charges. The second quarter of 2009 included charges of $2.7 million resulting from the closure of one plant in Florida and the announced closure of one plant in Colorado and idling of one plant in California. The first quarter of 2008 included charges totaling $9.3 million for the closure of two manufacturing facilities and the elimination of two regional offices. These conditions resulted in a 55% reduction in headcount in the segment since the beginning of 2008.



The plant closures announced in the quarter ended July 4, 2009 resulted in restructuring and other plant closing charges totaling $2.7 million, consisting of fixed asset impairment charges of $1.5 million, severance costs totaling $0.7 million and an inventory write-down of $0.5 million. The plant closings and idling will result in the termination of substantially all 215 employees at the three plants. Severance costs are related to approximately 50 employees that were covered under the Company’s severance program.



The plant closures announced in the first quarter of 2008 included one in Oregon and one in Indiana. The operations at the closed Indiana plant were consolidated at our other Indiana homebuilding complex. The Indiana closure was the final of four plants at a complex where the other three plants had been previously idled. Therefore, impairment charges in the quarter related to the four plant Indiana complex and the Oregon plant. Charges in the first quarter of 2008 totaling $9.3 million consisted of fixed asset impairment charges of $7.0 million, severance costs totaling $2.0 million and an inventory write-down of $0.3 million. Severance costs included certain payments required under the Worker Adjustment and Retraining Notification Act and were related to the termination of approximately 330 employees consisting of substantially all employees at the Oregon plant and those terminated as a result of the Indiana plant closure and consolidation of operations.



Firm contracts and orders pending contracts under framework agreements totaled approximately $165 million at the end of the quarter, compared to approximately $150 million at the end of 2008 and $155 million at the end of last quarter. Included in orders at July 4, 2009, are orders totaling $46 million that are scheduled to be produced after 2010 under long-term agreements.

[thegreatgate]

So what is the gameplan with CHB? I'm still holding and getting ready to double down.

I'll have an updated 60-minute chart a.h. I had to move that support line way down but it came into place nicely....Techs on the 60 minute are definitely looking good though!