GSI Technologies - A $17 Stock Wearing A $5 Halloween Costume [View article]
I looked over the material in CY's Annual report and last CC regarding SRAM market and I was somewhat alarmed by how fast the market has deteriorated the last two years.
Is there any reason to believe that even the fast SigmaQuad SRAMs will not eventually be overcome by improving DRAMs?
What is "integration" as CY puts it?
ISSI has commented that the samsung share is no where near $150 due to lifetime buys and product obsolescence. How big of a TAM has Samsung really left behind?
If the SRAM market is collapsing as fast as it appears to me, that seriously calls into question your exit multiple of 10x EBIT which dramatically alters the valuation of this stock.
What is this company's value add other than competitive pricing which ensures that all the profits will be wrung out of the commodity online money transfer business.
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
Yes I am inclined to be short AKRX although I recently covered.
What percent of the base hospital injectables business (excluding nembutal) do you think is currently in shortage or coming off shortage in the next few quarters?
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
Yes, you are right TRIB is not producing much FCF.
However, excluding the capitalized R&D related to FIOMI, the base business generated about ~15m in FCF. They could shut down Fiomi and cash from operations would not decline, so to me it is incremental and valued separately.
Bottom line is TRIB's base business is worth at least $20 per share right now, and FIOMI could double the stock or more if successful so I look at additional buybacks as investing in the success of FIOMI. Fiomi should offer a better return on capital than almost anything else out there right now, so they should use at least $15-20 mil of the 75 in cash and buy back stock
Foreign currency translation losses result from a difference between the exchange rate used to translate the balance sheet and the income statement from one currency to another.
Is this a way for companies to manipulate earnings? I would be interested to know how this is done as I look for accounting gimmicks on the short-side.
Kulicke And Soffa Industries: An Unappreciated, Undervalued Market Leader [View article]
BPD--
From last CC: I guess I wanted to ask, if you guys have seen any indications of customers that were, you know, primarily a big copper users that are making more aggressive transitions to flip chip. Because, you know customers like MediaTech were one of those big initial drivers, and of course they’ve got a couple of – two or three important chips coming out that are going to be done in flip chip.
Are you starting to see some of that potential impact in your utilization rate, or your copper bonders?
----------------------...
Semis are not my expertise so I could be wrong. If this industry is not in a secular decline and is in fact growing then you will be investing in the worst management team on the face of the earth because they should be buying back stock hand over fist at <4x earnings in a growing industry
That being said, the valuation is so low I just assumed that street must be pricing in technological risk otherwise the valuation just is nonsensical.
Provide evidence to support that wire bonding will not be obscellesed by flip chips and I will probably buy this stock
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
Paul Nouri - Noble Equity Fund Morning. Tim, on the income statement below the diluted shares, it talks about the foreign currency translation laws and the comprehensive income. Can you explain that out to me a little bit and why that's not above the line?
Timothy Dick Yes, this is the GAAP, appropriated GAAP presentations. I guess that’s the most correct answer I can give you. But in terms of it's applying the foreign currency changes to the acquired balance sheet quarter-to-quarter. Does that make sense?
Not saying that knowing accounting is the key to making money in the stock market, but if you dont know accounting should you really be asking accounting questions on the conference call? You are right it is not my place to tell you what you should ask, but seems like you might be able to ask a more relevant question or push management towards an ideal outcome like in the case of TRIB advocating a dutch tender like Walter did on yesterday's call
Once Heralded Dendreon May Be Approaching The End Of Its Financial Road [View article]
What is their contribution margin?
GSI Technologies - A $17 Stock Wearing A $5 Halloween Costume [View article]
Is there any reason to believe that even the fast SigmaQuad SRAMs will not eventually be overcome by improving DRAMs?
What is "integration" as CY puts it?
ISSI has commented that the samsung share is no where near $150 due to lifetime buys and product obsolescence. How big of a TAM has Samsung really left behind?
If the SRAM market is collapsing as fast as it appears to me, that seriously calls into question your exit multiple of 10x EBIT which dramatically alters the valuation of this stock.
Any thoughts?
Xoom Corporation - Successful Offering Of This Online Money Transfer Company [View article]
How can XOOM compete with the agent networks of WU and MGI which are orders of magnitude larger?
An IPO Xooming Too High [View article]
Trans World Entertainment: Transformation In Decline [View article]
Why hasn't this happened? Because Higgy owns the company and he isn't a seller.
He doesn't care about the common shareholder, he looks at the company's balance sheet as his personal bank account.
That said, the stock is cheap and I am long based on the risk/reward
Trans World Entertainment: Transformation In Decline [View article]
Kulicke And Soffa Industries: An Unappreciated, Undervalued Market Leader [View article]
Perfumania's Financial Numbers Are Alluring [View article]
How wealthy are the Nussdorfs? Seems like the company is about out of cash so wondering whats going on there
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
What percent of the base hospital injectables business (excluding nembutal) do you think is currently in shortage or coming off shortage in the next few quarters?
Dolby Laboratories: The Good, The Bad And The Unknown [View article]
What is the deal with Via Licensing and the NFC patents? Will Dolby benefit from the adoption of NFC in smartphones? If so to what extent?
Motiwala Capital Q4 2012 Letter To Investors [View article]
What is the deal with Via Licensing and the NFC patents? Will Dolby benefit from the adoption of NFC in smartphones? If so to what extent?
Accidentally Speculating In Dolby? [View article]
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
However, excluding the capitalized R&D related to FIOMI, the base business generated about ~15m in FCF. They could shut down Fiomi and cash from operations would not decline, so to me it is incremental and valued separately.
Bottom line is TRIB's base business is worth at least $20 per share right now, and FIOMI could double the stock or more if successful so I look at additional buybacks as investing in the success of FIOMI. Fiomi should offer a better return on capital than almost anything else out there right now, so they should use at least $15-20 mil of the 75 in cash and buy back stock
Foreign currency translation losses result from a difference between the exchange rate used to translate the balance sheet and the income statement from one currency to another.
Is this a way for companies to manipulate earnings? I would be interested to know how this is done as I look for accounting gimmicks on the short-side.
Kulicke And Soffa Industries: An Unappreciated, Undervalued Market Leader [View article]
From last CC: I guess I wanted to ask, if you guys have seen any indications of customers that were, you know, primarily a big copper users that are making more aggressive transitions to flip chip. Because, you know customers like MediaTech were one of those big initial drivers, and of course they’ve got a couple of – two or three important chips coming out that are going to be done in flip chip.
Are you starting to see some of that potential impact in your utilization rate, or your copper bonders?
----------------------...
Semis are not my expertise so I could be wrong. If this industry is not in a secular decline and is in fact growing then you will be investing in the worst management team on the face of the earth because they should be buying back stock hand over fist at <4x earnings in a growing industry
That being said, the valuation is so low I just assumed that street must be pricing in technological risk otherwise the valuation just is nonsensical.
Provide evidence to support that wire bonding will not be obscellesed by flip chips and I will probably buy this stock
Profiting From The Trend Towards Point Of Care Diagnostics [View article]
Morning. Tim, on the income statement below the diluted shares, it talks about the foreign currency translation laws and the comprehensive income. Can you explain that out to me a little bit and why that's not above the line?
Timothy Dick
Yes, this is the GAAP, appropriated GAAP presentations. I guess that’s the most correct answer I can give you. But in terms of it's applying the foreign currency changes to the acquired balance sheet quarter-to-quarter. Does that make sense?
Not saying that knowing accounting is the key to making money in the stock market, but if you dont know accounting should you really be asking accounting questions on the conference call? You are right it is not my place to tell you what you should ask, but seems like you might be able to ask a more relevant question or push management towards an ideal outcome like in the case of TRIB advocating a dutch tender like Walter did on yesterday's call