Circuit Systems (CSYI) Message Board

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Technology Stocks : Circuit Systems (CSYI)

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To: Zirdu who wrote (20)	8/28/1997 4:52:00 PM
From: kolo55	of 51

My PSR model shows CSYI a great buy. I have found that buying stocks in the Board business at a PSR of less than 0.65 is usually an excellent investment. Well, the market cap of CSYI is around $26M. But they own 488,413 shares of Sigmatron(SGMA), and at 16.625 a share, this position is worth over $8M. So subtracting that, I get an adjusted market cap of $18M. The company just did $63M in revenues over the last year, and the new plant should add at least $20M to the revenues, so I estimate that the company can do at least $83M in sales over the next 12 months (starting 8/1/97). Also the CEO has said they hope to do $100M in the year ending 4/30/99. Dividing the adjusted market cap of $18M by $83M in sales, I find the stock trading at a forward PSR of 0.22. Threfore the stock could triple over the next year and still be priced attractively. This is a huge discount just because its a micro-cap. I've been buying, although its been taking 5.25 to get the shares. Paul

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