SMARTFLEX ALSO MEMBER OF THE IOMG FAMILY Message Board

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Non-Tech : SMARTFLEX ALSO MEMBER OF THE IOMG FAMILY

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To: Douglas V. Fant who wrote (184)	6/27/1997 12:57:00 PM
From: kolo55	of 558

Mr. Market is serving one up over the plate. Last Q the Seagate 9 GIG drive assemblies didn't contrubute much to revenues or to the bottom line. This was the area that was supposed to contribute to increased revenues, and because of the higher margins, much better profits. But this is upside potential being diminished, not baseline revenues. The main cause for the drop in revenues last Q over the DecQ was the drop in non-HDD revenues. Given the expectations of these products returning to normal levels, the revenues should rebound to around $36- 38M, and we should see profits in the mid 20 cents a share. But with Al Castleman's cautionary words regarding Monterey plant (and maybe Cebu) startup costs, maybe the current quarter profits will fall below 20 cents. I'm amazed the stock broke 10. If Solectron wanted to expand their flex business (now they are a small time player), this stock does seem like it's ripe to pick. Especially because TDK, one of the large holders, no longer has a business relationship with the company and is looking to sell their shares "at the right price". Paul

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