To All: Some more information directly out of EDGAR filing from Sept 18.
Key elements of the Company's business strategy to target these
manufacturing opportunities are to:
. focus on providing customers with the highest level of customer service
through teams comprised of sales, quality assurance, engineering,
purchasing and manufacturing personnel;
. enhance its relationships with existing OEM customers such as Nortel,
Compaq, IBM, Diebold, Hewlett-Packard and Lucent Technologies by
providing extensive support and value-added services and features while
maintaining flexible manufacturing capabilities;
. create new relationships with large and mid-sized OEMs, such as those
recently established with Cisco Systems, Qualcomm, Alcatel, Solectron
and Symbios Logic;
. deliver local customized support for its customers through multiple
international points for sales, engineering, manufacturing and
distribution;
1
. increase manufacturing capabilities through multiple international
points for sales, engineering, manufacturing and distribution;
. capitalize on its independence from connector and wire manufacturers by
impartially selecting components integrated into its products to
satisfy more precisely and cost effectively a customer's particular
demands or requirements;
. emphasize continuous quality improvements in its ISO certified
manufacturing facilities; and
. introduce applied automation to increase productivity, shorten
manufacturing times, improve safety and increase product and process
reliability.
RECENT DEVELOPMENTS
Denron Merger. In June 1997, the Company merged with Denron, Inc. a
manufacturer of cable assemblies and wire harnesses in San Jose, California. The
merger with Denron provides the Company with an expanded customer base and local
manufacturing facilities to serve the growing number of West Coast technology
companies. As a result of its merger with Denron, the Company also has
manufacturing services arrangements with companies in Taipei, Taiwan and the
People's Republic of China providing the Company with multiple delivery points
in the Far East.
The Company issued 791,170 shares of Company Common Stock in exchange for
all of the outstanding common stock of Denron. The transaction was accounted for
as a pooling of interests.
My own comments again:
The DENRON owners originally wanted an all cash deal so it's not surprising that they are selling their shares. They had asked for 16 mill in cash so they will be ahead when these shares are sold. I hadn't known about the relationship with Lucent so this is also very positive. The Fall quarter is the biggest quarter for many TELCO's and PC makers so JPMX might have its greatest quarter ever. I believe the stock is at its low or very close. Turnover has been about 1.8 million shares during the downdraft and there are only 2.1 million shares on the open market. Even with inflated NASDAQ volume counting this is significant turnover from weak hands to strong hands. This stock looks great to me since most of the new customer relationships and opportunities in the Fall quarter are not widely known or built into the price of the stock - a diamond in the rough.
Karl |
