RE: Just how "cheap" is SYQT?
SyQuest Technology, Inc. (SYQT)
Yearly prices (1993 to 1998)
DATE HIGH Shares Market Cap Sales P/S Earnings
(,000) (,000) (,000) (,000)
==== ====== ====== ========== ======== ==== ==========
1993 25.5 12,340 $314,670 $206,362 1.52 $ 15,212
1994 19.5 11,647 $227,117 $221,001 1.03 $ 5,405
1995 19.625 11,053 $216,915 $299,544 0.72 $ (11,786)
1996 18.875 11,497 $217,006 $200,407 1.08 $(136,651)
1997 6.094 34,815 $212,163 $122,723 1.73 $ (68,671)
1998 3.375 85,000 $286,875
* I've estimated an average outstanding shares of 85 million for 1998.
If you use the fully diluted 150 million shares, the numbers are
even worse.
Although the price has dropped considerably, the market cap and
price/sales ratio have remained fairly steady (and actually gone up).
I think that if anything, SYQT is far overpriced. Based on their
market cap, they are priced almost as high as they were in 1993 when
they had no competition (and were profitable) or 1995 when they did
$300 million in sales. P/S ratio is higher than it's ever been.
- Michael Coley
- wwol.com |
