Jeff and thread,
I respectfully suggest using the 10-Ks instead of secondary sources for information. SMTC's net sales were $114,519 K in 1999 compared to $71,595 K in 1997, for a geometric mean growth rate of 26.5%. Going back to 1995, where net sales were $34,605K, the GMGR was 34.9% per annum. These numbers include Acapella (because it was a pooling of interest merger). What I find compelling is the growth in operating cash flow, which increased from 6.642 MM in 1997 to 21.195 MM in 1999 (for a GMGR of 78.6%), and the growth in free cash flow which increased from $2.35 MM in 1997 to $15.67 in 1999 (a GMGR of 158% per annum).
I'm in the throes of doing my dd on this company, and would be grateful to the insights of people on this thread. One thing stands out at this point, and that is that a significant amount of sales are to the Asia-Pacific region. Given the Asian economic rebound, how do you foresee future growth? How do you rate the quality of SMTC's products compared to its competitors? What are SMTC's strengths and weaknesses?
TIA
TTFN,
CTC |
