Credence (CMOS): Anyone out there Message Board

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Technology Stocks : Credence (CMOS): Anyone out there

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To: smallcapmaven who wrote (474)	3/5/2001 4:14:21 PM
From: BWAC	Read Replies (2) of 497

So you are assuming the financials are not accurate? Assuming assets not properly/fairly valued? Assuming customers won't and can't pay receivables? Assuming investmetns are worthless? Assuming no economic expansion? Assuming no growth in the foreseeable future for CMOS? Assuming. One thing is not an assumption. Book Value is indeed arbitrary. It could be a very messy complicated balance sheet, It could be made up entirely on intangible assets and goodwill. But that isn't the case for CMOS. Its assets are cash, available for sale investments, customer receivables already offset by a "historical bad debt expense ratio", and other hard physical properties. Which may in fact be carried at cost on the books, but in fact appreciated in value. You assume the worst. I assume all is appropriate. You targets assume CMOS would be better off not to exist in any form. Thats quite an amazing assumption to base your target on? Because $14 is lower than the net assets. And if they can't support a valuation over $1 Billion; The company needs to liquidate its assets, cease business, and return the money to the shareholders.

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