HDC: Hadco Corporation Message Board

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Technology Stocks : HDC: Hadco Corporation

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To: LKO who wrote (1)	11/23/1999 5:15:00 PM
From: Bo-jest	Read Replies (2) of 12

Thanks LKO for picking up on my posting. I picked semiconductors category since there doesn't seem to be a general electronics components or more particularly, and electronic interconnect industry listing. Hadco had been previously nasdaq listed as HDCO on a semiconductor thread. Also, the market analysts whose reports I've read has them grouped with "semiconductor" companies too. That's why my selection. What I know personally is that Hadco Corporate have trimmed a considerable number of people at all levels from both of their recent acquisitions, Zycon (Santa Clara)and Continental Circuits (Phoenix). They have also reorganized their management team in the last year to a leaner meaner crew of tough young goal oriented people. They have centralized some purchasing functions to leverage buying in volume from preferred suppliers that meet their demands. They have consolidated their quick turn manufacturing in the two more modern of three plants, shutting down the less efficient facility in Salem, NH. We could debate whether they paid too much for Continental or not, I think they may have, since a large $70+M write-off was taken last year for R&D capitalized by Continental. That, along with paying other one time expenses relating to Zycon and Continental buys has depressed income. Sales are growing and I believe will overtake the negatives very soon to make income grow. Overall, I believe they are a very competent and well managed company, positioned to compete profitably in a growing circuit board industry and market. I expect them to do very well in the next year and believe they will support a stock price well into high 70's or low 80's within a year. What do you think? Bo-Jest

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