American Power Conversion Message Board

STOCKTALK

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 : American Power Conversion

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Joseph Francis Torti who wrote (1643)	7/24/1997 10:58:00 PM
From: shane forbes	of 2574

Hi Joe. Congratulations on DELL. Nice call. Regarding your points about APCC: 1. Can't argue with your 27.69 cents but what is $0.0031 amongst friends! Anyway First Call had 0.27. (Zacks had 0.28 - Briefing.com reports APCC beat estimates by a penny so at least they were referring to the First Call estimate.) Remember also that the analysts estimates that we see are actually rounded as well so that 0.28 might be anything from 0.2850 to 0.2949. In this case, I averaged the 6 estimates of 0.27(2),0.28(2) and 0.30(2) from Zacks to get 0.2833. So actually they were short a bit more than you indicated! Seriously though EPS is rounded and anything between .2751 and .2849 equate to .28 and .28 will be so reported. 2. Cash was down year over year by 10 million (rounded everything to millions for simplicity). But accounts receivable were up by an offsetting 9 million. Which may be seen as bad unless you note that as a %ge of sales a/c receivables are DOWN bigtime from 67% to 57%. So the reduction in cash is not significant since the decline was due to extra increase in receivables caused by a MUCH larger increase in sales. 3. Yes operating expenses were up 36% while sales were up only 27%. Generally dangerous unless you note that cost of goods went up only 19%. Therefore increased SG&A is offset considerably by gross margin improvements (perhaps due to the new factories producing more - efficiencies of scale?). I consider the higher % increase in R&D a good thing. --------------------------------------------------------------------- I normally would also compare with q1 but since sales are highly seasonal I would not do so in this case unless something really nasty showed up in q2. I see nothing nasty. Besides my darn printer needs a new cartridge and I can't be bothered comparing any more numbers from the computer screen! --------------------------------------------------------------------- You raise good points.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next