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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: AJ Berger who wrote (5476)7/23/1999 12:29:00 PM
From: Charles R  Read Replies (1) of 9582
 
AJ,

<with 10mil in back orders, and
15mil in A/P, next quarter will
be the same mess, so all we can
hope for is more portfolio cash.>

I was thinking about this statement for a while in the context of increasing wafer inventory. The earnings press release states -
"The $14.3 million inventory increase during the quarter was due to early production in anticipation of higher wafer prices in Taiwan as well as higher anticipated sales during the first and second quarters. Inventories are expected to decline during the second quarter. "

Now, let's say the management is extremely savvy about investments as Ram says. Could it be possible that they have built this stuff up and they pay for the wafers with UMC shares? Some kind of tax-free exchange? If that is the case, then the profits should jump big time during the next 2 or 3 quarters. Boy, there are a lot of questions begging to be asked here and the IR guys haven't been at their desk to give me the conf call number.

Someone on this thread (I do not recollect who) a while back was claiming that they talked to the CFO and posted some notes. If this person is still on this thread, it would be nice if he can post an update after talking to the CFO.

Good luck,
Chuck
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