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Technology Stocks : IS ISSI A VALUE FOR THE LONG HAUL
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To: Gary Burton who wrote (2)8/18/1996 8:24:00 AM
From: richard stout   of 33
 
Thanks for the info.

For what it is worth, I called the company on Thursday and ask to speak to the CFO. On Friday one of his assistance called me back. She was upbeat about the future but admitted they had not seen a turnaround in the market yet. They are still shipping plenty of product but at drastically reduced margins. I asked her if they were still "making money" meaning having positive earnings. She said they were. I hope "making money" means the same to her. She went on to say they had $90 million or about $6/share and a BV of $9/share. I checked their last balance sheet and the BV was then $ 8.42/share, cash was $15 million and ST investments were $ 75 million. I also asked her about the inventory write down. She told me all of that inventory was saleable and proceeds would go straight to the bottom line. If that is true, the only thing I could gather is that their current inventory has been devalued significantly. Lastly, she told me that insiders, including herself, still owned 10% of the company and they believed they were the industry technology leader and their biggest competitors were CY and IDTI.

The bottom for the semiconductor industry has to be close. What I would like to find out is which companies are in the best positions to come out on top when that happens. Does anybody have any insights?

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