re. AFCO, here's a table of the historical quarterly. You
will note that the previous 12 months were bad. That was
due to the Asian flu, which pounded many other suppliers to
Asia as well, of course.
Re. ASP, it declined in the first 9 months of the FY, but
the latest earnings news release says that for Q4 (ending
June '99):
``The market continued to improve throughout the fourth
quarter as coated glass sales for Applied Films rose 27.7
percent from the prior quarter, reflecting improvements in
both TN and STN markets and stabilized pricing in the
market place,'
Basically, they are a commodity supplier, and the market
for this commodity looks like it is has entered a cyclical
upswing, but the stock price doesn't reflect this
development. I don't think AFCO is a buy-and-hold stock,
but it seems like a reasonable intermediate-term value play.
REVENUES (Thousands of U.S. Dollars)
QUARTERS 1996 1997 1998 1999
SEP 7,139 6,279 11,251 9,351
DEC 4,656 7,806 13,173 6,176
MAR 4,709 9,935 15,312 8,216
JUN 5,234 10,030 13,305 7,779*
TOTAL 21,738 34,050 53,041 31,522*
EARNINGS PER SHARE
SEP -0.030 0.020 0.230 -0.060
DEC -0.140 0.070 0.230 -0.090
MAR -0.190 0.230 0.230 0.040
JUN -0.020 0.250 0.170 0.050*
TOTAL -0.380 0.570 0.860 -0.060* |
