I have been pursuing the contract manufacturing sector for the past couple of months and presently have about 7 stocks in that niche. forecasts here are strong including this one last week from bear/stearns...asxi has about 5.6m shares out not including recent grant of a pref on a 3 to 1 basis w/common as mentioned in this 1st qtr release...first bear stearns then 1st qtr...do your own research and due diligence...stock is around 5/8 on otc bb:
(PR NEWSWIRE) Bear Stearns Analyst Expects Huge Growth in Electronics Manufac
Bear Stearns Analyst Expects Huge Growth in Electronics Manufacturing Sector
NEW YORK, Sept. 7 /PRNewswire/ -- Bear Stearns analyst Thomas Hopkins told
StockHouse.com in a featured interview that "investors should put significant
parts of their portfolios into the contract manufacturing space." His
favorites include Flextronics, Solectron, and SCI Systems, among others.
Hopkins said of Flextronics (Nasdaq: FLEX), "...We think there's another
40 to 50 percent upside before the end of the year." He added that the
company was "growing at the fastest rate among the top five," in the
electronic manufacturing sector.
Hopkins also favored industry leader Solectron (NYSE: SLR) saying, "The
call we're making is that earnings will be very good on Monday (September 11).
We've gone from a period where people were somewhat disappointed to a period
where people are going to be very, very pleasantly surprised." He added that
Solectron could reach $70-$80 by the end of the year.
SCI Systems (NYSE: SCI) was also on Hopkins' list. "That's another one we
think you can buy today and make between 50 to 100 percent from here," he said
adding. "It's still a very cheap stock relative to the group."
The entire StockHouse Featured Analyst Interview is available at
www.stockhouse.com . Direct hyperlink:
stockhouse.com .
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SOURCE StockHouse Media Corporation
-0- 09/07/2000
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(FLEX SLR SCI)
CO: StockHouse Media Corporation; Flextronics; Solectron;
Astrex, Inc. Reports the Filing of its First Quarter 10-QSB & Setting of Its Annual Meeting
PLAINVIEW, N.Y., Aug. 11 /PRNewswire/ -- Astrex, Inc. (OTC Bulletin Board: ASXI - news) reports that it has filed its First Quarter 10-QSB report for the period ending June 30, 2000. As previously reported on a preliminary basis, the results for the First Quarter show a continuation of the Company's positive trend with Net Income, Sales, Bookings and Backlog all exceeding the prior fiscal year's first quarter results.
Specifically, the results for the First Quarter as compared to the previous fiscal year's first quarter are:
-- a 115% increase in Net Income, approximately $153,000 as compared to
approximately $71,000;
-- a 17% increase in Net Sales, approximately $4,514,000 as compared to
approximately $3,853,000;
-- a 18% increase in Bookings (i.e. orders), approximately $4,721,000 as
compared to approximately $3,979,000; and
-- a 8% increase in Backlog (i.e. confirmed but not yet shipped orders) at
July 1, 2000, approximately $4,220,000 as compared to approximately
$3,902,000 at July 1, 1999.
In addition as reported in the just filed First Quarter 10 QSB:
-- Net Income Per Share on both a basic & diluted basis was three cents
($0.03) per share as compared to one cent ($0.01) per share for the
same period in the last fiscal year. (It should be noted however, that
this calculation does not include the dividend of one Preferred Share
for every three shares of Common Stock issued after the first quarter,
July 17, 2000. Beginning on July 31, 2001 the Preferred Shares are
convertible into an equal number of Common Stock shares.)
-- Total Shareholders' Equity increased approximately 10% to $3,809,000 as
of June 30, 2000 as compared to $3,654,000 on the same date in 1999.
The Company cautions that the results for the First Quarter reported in its just filed 10-QSB have not been subject to audit and that they are only for the First Quarter and thus are not necessarily indicative of what the results will be for the entire fiscal year.
The Company also announced that it has set its Annual Meeting for September 12, 2000 at 11:00 a.m. EST at the offices of the Company, 205 Express Street, Plainview, New York 11803. The Stock Holder Record Date for the meeting is August 8, 2000. It is anticipated that at the meeting one director will be elected, there will be a brief report the Company's business, and questions from the floor will be entertained. A Proxy Statement for the meeting together with copies of the Company's Form 10-KSB for the fiscal year ended March 31, 2000 and the Company's First Quarter Form 10-QSB for the quarter ended June 30, 2000 will shortly be mailed to share holders of record as of the Record Date. All stock holders are invited and encouraged to attend.
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the future business performance of Astrex. More information about some of the many potential factors which could affect the Company's business and financial results are included in the Company's Annual Report on Form 10-KSB for the year ended March 31, 2000, including (without limitation) under the captions ``Description of Business'', ``Description of Property'' and ``Management's Discussion and Analysis or Plan of Operation,'' which is on file with the Securities and Exchange Commission (http://www.sec.gov).
SOURCE: Astrex, Inc.
Astrex, Inc. is a value-added distributor of electronic components. These components are used to connect, control, regulate or store electricity in electrical equipment. The principal products assembled and sold by Astrex are connectors. Connectors link a wire or group of wires to another wire or group of wires. Other products sold include relays, switches and LEDs. The Company's sales are worldwide with a concentration in the Northeast and Mid-Atlantic States. The Company serves more than 3,200 customers representing a broad range of electronics users from major original equipment manufacturers to engineering firms and research and educational institutions. Its largest industry markets include the defense, aerospace, industrial equipment and computer industries |
