W)Fast and loose on SMAWY
Rated a watch
Thinking globally and acting locally is more than semantics for Siemens. The electronics giant operates in the energy, industry, information and communications, health care, transportation, lighting, and components sectors. Siemens has been streamlining its operations in a major restructuring. It has spun off its semiconductor and passive components units and sold its banking systems, electromechanical components, and optical cable businesses. Siemens is also forming joint ventures: It's combining its computer operations with those of Japan's Fujitsu, and its nuclear power business with that of France's Framatome. Siemens is joining with Robert Bosch to buy Mannesmann's engineering and automotive parts units.
52-Week Low on 10-June-1999 $69.75
Recent Price $159.00
52-Week High on 25-Feb-2000 $191.00
Market Capitalization $93.1B
Shares Outstanding 585.5M
Float 538.7M
Price/Book N/A
Price/Earnings (ttm) 71.65
Price/Sales N/A
siemens.com
Financial Highlights (in millions of Euro)
Half-year 2000 1999 1998
New orders 38,955 33,392 30,447
Net sales 35,451 31,287 26,659
Income after taxes before extraordinary items 1,405 710 607
Income after taxes after extraordinary items 6,010 710 699
Net cash provided 4,863 659 (371)
Net cash (used in) provided by investing activities 6,312 (2,071) (1,148)
Research and development expenses 2,517 2,372 2,215
Shareholders' equity (March 31 or September 30) 24,118 17,200 15,488
Employees (March 31 or September 30) (in thousands) 425 443 416
From midyear report
In view of continuing favorable business trends, Siemens projects a significant increase in its business volume for fiscal 2000 and even stronger earnings growth. We expect that our high earnings growth rate at midyear will be moderated for the full year, because the base of comparison will include the exceptionally rapid earnings improvement we achieved in the second half of fiscal 1999. We also expect to pass a major milestone by achieving a positive EVA before extraordinary items for the fiscal year as a whole.
As we explained in our 1999 Annual Report, we devote considerable attention to risk management, so that we may take on only those risks associated with creating added economic value. In the second half of fiscal 2000 we foresee no major increase in risk for our business as a whole. Given continued economic growth in major world markets and an associated increase in demand for electrical and electronics components, however, we are monitoring the possibility of component supply delays which could affect the performance of certain of our operating units later in the fiscal year.
After the close of the second quarter, we initiated three material transactions:
Along with Robert Bosch GmbH, of Germany, we successfully bid to acquire Atecs Mannesmann AG, of Germany. Each partner will own half of the company, and both will combine various of their existing businesses with certain Atecs Mannesmann operations. In particular, the planned combination of Atecs' successful VDO unit with our Automotive Systems (AT) Group will create one of the world's premier automotive electronics concerns.
We agreed with the board of directors of Shared Medical Systems Corp. (SMS), of the U.S., to make a tender offer to shareholders to acquire the company for total consideration of approximately US$2.1 billion. SMS is one of the world's top two suppliers of services and IT systems for the healthcare industry, making it an excellent fit with our existing expansion plans in the Health Care segment.
On May 2, 2000, we began purchasing Siemens shares under the share repurchase program described above. The repurchased shares will be retired to reduce our capital stock.
Summary
Hard to get info, but PE is high if correct. Seeing their name alot for dominating Europe. Plant in IL is filled with good managers. Should be listed on the NYSE to make it easier. Was in the 80's in the fall and ran up to $180 in March, collapsed to 130's and risen since. A little pricy now. bigcharts.com
Jack
|
