MUEI.
Micron Electronics reported a first quarter profit of 2 cents per share on a 15% increase in revenues after the close yesterday. The profit was in line with the company's warning on Dec 1, and revenues were actually slightly higher than the $385 to $400 million guidance from the company on that date. As of the Nov 30 balance sheet released yesterday, MUEI had $306,345,000 in cash and liquid investments ($3.16 per share), down a little from $326,034,000 on Aug 31 ($3.38 per share). The company also has $206 million in receivables, $221 million in fixed assets net of depreciation, and very little debt. The stock closed today at $3.25, which is only 9 cents per share above their cash value, and it actually traded below the cash value yesterday. If this isn't an irrational extreme, I don't know what is. biz.yahoo.com
Merry Christmas to all.
PS to Ahmed: Best of luck, pal, and a special Happy Holidays to you. My heart goes out to you and others that have been wiped out by this market. I have been bruised, but not knocked out. |
