Electronic Contract Manufacture (ECM) Sector Message Board

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Strategies & Market Trends : Electronic Contract Manufacture (ECM) Sector

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To: MGV who wrote (2304)	3/24/2000 12:46:00 PM
From: rich evans	Read Replies (1) of 2542

Anybody think FLEX is getting a little pricey and too far ahead of the ECM group. I have not sold but have difficulty with the current price as evidenced by today's action. If they did 50% growth for FY ending 2/01 and ended up with 9 bill in sales at their 3% net this would be 270 mill profits and I am guessing 180 mill shares to get 1.50 a share so it looks like they could be 50 times forward earnings. But maybe my numbers are all wrong. Their DIIG blended margins could be higher I guess for example. But if you run similar growths and numbers with JBL or SLR and use their 4.1% last quarter margins , the stock price of JBL and SLR seem substantially cheaper.Anyone have any comments? Viasystems went public today in the board business and the price of the IPO and runup seems substantially more then HDC is going for on cashflow basis even when you figure the debt. This should help HDC you would think. Rich

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