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Technology Stocks : Brillian Corporation
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To: TT who wrote (128)2/12/2007 9:58:48 PM
From: TT  Read Replies (1) of 361
 
08:26 BRLC Syntax-Brillian: Impressive results and noticeably improved balance sheet - Brean Murray (7.99 )

Brean Murray notes BRLC delivered an impressive 2QFY07 (Dec 2006) with 176% sequential rev growth, record shipment of 352,000 LCD TV units, an 8% QoQ increase in average selling price, a quadruple sequential increase in net income, operating margin expansion of 100 bps, $25 mln in adjusted EBITDA and a cash increase of $15 mln. The co also increased its FY07 rev outlook by nearly $100 mln to $650-700 mln, while gross margin is projected to be robust at 16-18%. In addition, mgmt confirmed shipping Olevia TVs to Target and Kmart, as the two retailers are in the process of rolling out Olevia TVs nationwide. Firm says their Y07 gross margin assumption of 16.2% is at the low end of guidance and, as such, their Street-high FY07 EPS est of $0.70 may prove to be conservative. We reiterate BRLC as one of our top picks for 2007 with a tgt of $20.
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