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gsterling

gsterling
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  • ChipMOS: Oligopoly At 4x EBITDA, 8x EPS With Pending Buyback - A Holiday Gift [View article]
    Jeremy - I'm pretty sure the FCF was a typo. They say $17.8mm but I'm pretty sure they meant 71.8. I did send an email to them to confirm this.

    The guidance for Q1 is not really that surprising. Usually Q4 would have been down at least high single digits compared to Q3 and Q1 would be on par with Q4. But Q4 was really strong - about flat compared Q3. As for gross margins they should improveafter Q1 especially as the LCD Driver business which is higher margin continues to grow. If you listened to the call business is quite good and they said revenues should grow 5-10% this year (they almost always hit the high end of their guidance).

    I'm not sure an activist will be able to rush things any faster. Management has made it quite clear they will continue to streamline the corporate structure. The Thailin merger should be completed by June. Once that is done I anticipate they will reveal the conversion plan for IMOS. I think they have had many many complaints from IMOS shareholders about their usage of cash. They insist they are well aware.
    Mar 12, 2015. 09:39 PM | 2 Likes Like |Link to Comment
  • Tel Instrument: Over 500% Upside Just To Reach Fair Value Based On Guidance [View article]
    Thanks for the update Joe. I think next Q will definitely raise a lot of eyebrows. I look forward to their revenue guidance next month.
    Mar 9, 2015. 04:00 PM | Likes Like |Link to Comment
  • TowerJazz: A Deeper Analysis Of Management's Troubling Behavior [View article]
    Per the Reuters article below: "Terms of the deal were not disclosed, but a market source who asked not to be named estimates that the agreement could be worth hundreds of millions of dollars within four years."

    http://reut.rs/17Ny5eD
    Mar 4, 2015. 07:44 AM | 3 Likes Like |Link to Comment
  • Kellogg Rallied, More To Come? [View article]
    Just read a BusinessWeek article on Kellogg yesterday. Doesn't paint a particularly good picture of the current CEO or their prospects.
    Mar 3, 2015. 11:00 AM | Likes Like |Link to Comment
  • Oaktree: Sum-Of-The-Parts And Secular Tailwinds Point To Undervalued Units [View article]
    Can anyone explain the reasoning behind the offering announced yesterday? What exactly are they buying?
    Mar 3, 2015. 10:30 AM | 1 Like Like |Link to Comment
  • BFC Financial: A Massively Undervalued Catalyst-Driven Equity [View article]
    Like Google?
    Mar 3, 2015. 10:23 AM | Likes Like |Link to Comment
  • BFC Financial: A Massively Undervalued Catalyst-Driven Equity [View article]
    In court filings yesterday - SEC proposes a civil penalty of $5,200,000 for BBX and $1,560,000 for Alan Levan plus lifetime ban. BBX proposed that the ruling should be tossed out. Status conference tomorrow, 3/4.
    Mar 3, 2015. 10:09 AM | Likes Like |Link to Comment
  • BFC Financial: A Massively Undervalued Catalyst-Driven Equity [View article]
    Always good to have new shareholders.

    There is a status conference scheduled for next week, March 4th. Not sure yet if the judge will make any decisions at that point. Still waiting for SEC to submit their recommended penalties proposal which I believe is due by the 2nd.

    In my opinion the most Levan will get is a temporary ban (maybe a year, if any at all). At that point I'm guessing BBX will drop any appeals, pay the fine ($5M tops) and proceed with the merger. Unfortunately the court system moves at the speed of a snail.

    Earnings will be released on the 16th.
    Feb 27, 2015. 02:54 PM | Likes Like |Link to Comment
  • Extendicare: For Most, It's On To The Next One [View article]
    Earnings out last night: http://yhoo.it/1wrAcQV

    Everything looks good although I was hoping they'd repurchase shares at a quicker pace. Maybe they are waiting for the sale to go through first. Regardless with the Revera acquisition which should close in Q2 they should be at .50 AFFO and as they continue to buy back shares that number will go up. So they already have the dividend covered. Hopefully there is another acquisition in the works this year as well.
    Feb 26, 2015. 08:56 AM | Likes Like |Link to Comment
  • Will DHS Partially Shut Down On Or Before March 2 Due To Lack Of Funding?  [View instapost]
    No worries. Thanks.
    Feb 25, 2015. 07:42 AM | Likes Like |Link to Comment
  • Will DHS Partially Shut Down On Or Before March 2 Due To Lack Of Funding?  [View instapost]
    It certainly wouldn't be much of an economic effect although DHS employees certainly don't enjoy working for I.O.U.'s!

    In the past shutdowns federal employees who were furloughed ended up getting back pay anyway, but I've never experienced a partial shutdown like this before, so if the shutdown happens it will be interesting to see what Congress will do.

    The way things are going I'm thinking these shutdowns are going to start to become more routine.
    Feb 25, 2015. 07:41 AM | Likes Like |Link to Comment
  • Will DHS Partially Shut Down On Or Before March 2 Due To Lack Of Funding?  [View instapost]
    As a DHS employee I can tell you that 'non-essential' doesn't mean they are not needed. Operations do suffer when they are gone for any extended period of time.

    In additional I find your comment about TSA workers quite offensive. Every field has bad apples. I'm sure you wouldn't appreciate it if I said hedge fund managers are a bunch of crooks because of the numerous cases of pilfering, insider trading, an dirty dealings in your field.
    Feb 24, 2015. 10:40 AM | 2 Likes Like |Link to Comment
  • Letter To The RadiSys Board Of Directors [View article]
    Some open market purchases by directors yesterday:

    http://bit.ly/1CS9L3s
    http://bit.ly/1CS9Iop
    http://bit.ly/1CS9L3w
    Feb 20, 2015. 07:45 AM | Likes Like |Link to Comment
  • Cosan Ltd.: My Best Idea For 2015 [View article]
    I agree. In their investor presentation (which I thought was excellent) they discussed how underutilized rail is in Brazil compared to the US.
    Feb 13, 2015. 08:52 AM | Likes Like |Link to Comment
  • Letter To The RadiSys Board Of Directors [View article]
    They've already restructured the hardware division to the point where it's plenty profitable. For 2015 operating income for hardware will be $13-$17M. As they explained on the conference call, part of the reason for the revenue drop in hardware this year is they are cutting out business that makes little to no margin. Yes, portions of their hardware business have been declining (like audio conferencing), but they made it clear it's not going to zero and is starting to level out. No fire sale is needed.
    Feb 13, 2015. 07:48 AM | Likes Like |Link to Comment
COMMENTS STATS
831 Comments
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