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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks

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To: JakeStraw who wrote (4658)	7/26/2001 5:55:59 PM
From: BWAC	Read Replies (4) of 5499

APCC earnings look good. LSI has some visibility and if they dip them might be a good one to watch and buy next quarter. JDSU is a bomb, and the report is so complicated that none of the media have a clue what it says. Not so sure if I do! The earnings estimate miss/meet is irrelevant. But I think, If I decoded right, the report said 'Buy Ovaltine', No wait that was Ralphie's decoder in The Christmas Story. Too confusing. Backing out the inventory charges they took gets you very close to the .03 number. FWIW. And I'm sure that is all going to get lost in the hoopla over writing of the Goodwill. Even as irrelevant as that is. The only salient point I took from the whole report was that they are saying "The full impact of the Global Realignment Program will phase into the Company's income statement over the first three quarters of fiscal 2002. The goal of the program is to create a cost structure that results in breakeven financial performance at $350 million in quarterly sales." And thats a figure I can work with, when the storm blows over. Thinking revenues average out at 600 Million oneday, 30% excess over 350 to after tax bottom line, around $75 Million earnings per quarter, $280 Million per year, 25PE on that, add $1.5 Billion cash, gets just about the $9 JDSU is trading at. Why and WHO paid $200 for this company?

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