Saw Cardno get a mention on my twitter feed

The main highlight was potential payments from the legal settlements and sale of their former Insus (Latam) business

Already Cardno has made quite a few special dividend payments.

Also it looks like Cardno has no operations in Asia Pacific or Australia. Which I find is quite strange since a few years ago I met someone who worked at Cardno that was doing a survey of electrical, cable and other services in the CBD in preparation for the Sydney lightrail. Basically he would go under the city to track where these services were so the contractors would know where to dig and put in the rails.

The question for me is whether this is good value or just a value trap since there is no strategy to reestablish local operations.