SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Mattson Technology
MTSN 3.6000.0%May 12 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ELH1006 who wrote (3171)11/29/2000 12:17:54 AM
From: Q.  Read Replies (1) of 3661
 
OT - I checked Credence, and I found that I couldn't come up with your numbers.

They earned 2.87 for the year excluding charges, and 10% of that is attributable to interest income. They have $4.10 per share cash, and the shares trade for 18.25, but I'll use the aftermarket trading figure of $16.50 since you did. Take all these into account, and I get a trailing p/e for operations (price net of cash divided by earnings excluding interest) of 4.8, vs. your "somewhere between 2 and 3."

I'd agree that 4.8 looks pretty low for anything other than a cyclical -- it's not that unusual for an automaker at the peak of a sales cycle. I'd note though that Credence is particularly cyclical. Only about now have they erased their losses in 1998.

They did give this caution in their release:
"Our bookings of $222 million represented a book-to-bill of slightly over 1.0, which compares favorably with the recent estimates from SEMI of 0.81 for the Test and Assembly sector in October 2000.''

Dr. Siddall continued "In the current uncertain industry environment, there are concerns that some of these orders could be pushed out. In view of this uncertainty we estimate revenue will be sequentially down in the first quarter of fiscal 2001."

I'd say that the use of the phrases "pushed out" and "sequentially down" in that PR were guaranteed to knock a few bucks off the stock price.

BTW, one thing Credence does have going for it is the only 10Q filing that I've ever seen that really looks cool:
sec.gov
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News