Thread,
I have no position in CYMI and I have not been reading this thread, so please bear with me.
A major brokerage firm predicts (9/8/97) the following number of DUV steppers for fiscal years ending 3/98 through 3/02:
488, 570, 531, 795, 951.
If CYMI provides 100% of the lasers for these DUV steppers and revenue is $425K per laser, revenues for these years will be:
$207.4M, $242.25M, $225.675M, $337.875M, $404.175M.
CYMI has 28.3M shares outstanding. If a 15% after tax profit margin is projected (current TTM profit margin from Yahoo profile is 12.6%),
the EPS for these years will be:
$1.10, $1.28, $1.20, $1.79, $2.14.
Please comment on the appropriate price to discount this earnings stream and the model which generated the stream.
Thank you,
Cary |
