Re: A Favorite Stock, NICK
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Contract delinquencies at Sept. 30 2005 were $3,876,429.
Contract delinquencies at Sept. 30 2005 were $6,196,410.
(6,196,410 - 3,876,429)/3.876.429 = 59.8%.
How did you arrive at a 30% increase in delinquencies?
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Ok you were using absolute dollars, I was using delinquencies as a percentage of outstanding contracts, which went from 1.99% to 2.72%, which is an increase of 36.7%, not 30%.
And your observation about florida is likely right on target. I'm seeing similar things from another company I investigated this week, a building supply products company where sales in most of the south are solid, but in Florida sales have been very weak.
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