When a company prefers to keep its cash on its balance sheet, it says that it doesn't have a better idea what to do with the money.
The funds will allow the company to strengthen its balance sheet, it said.
"Once it cleans up its balance sheet, it will have a bite-size morsel of a strong core business for Barclays or Deutsche Bank to pick up".
Shrestha likes the company's double-digit backlog growth, as well as its clean balance sheet (it carries no long-term debt).
It's one of the lowest-cost producers in the sector, and with its debt-free balance sheet it could easily embark on acquisitions.
But "if you start with a nicely pressed sheet, it develops a natural, delicate wrinkle".
When we see Hobbs stamp the second sheet it is now a colour photo.
Instead of simply removing them from the transportation authority's balance sheet, it turned them into income.
"Although this liability is off the balance sheet, it has real teeth," Mr. Stewart warned.
"That's eight games unbeaten, we had another clean sheet; it is all positive.
"If it's on balance sheet, it will be subject to the debt cap," he says.
