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Technology Stocks : Cymer (CYMI)
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To: Mr. Aloha who wrote (8434)11/6/1997 4:39:00 PM
From: Patient Engineer  Read Replies (2) of 25960
 
Mr. Aloha, Re:"I don't expect CYMI too, but I would vote for $30 million if I were on the board.
$160 Million (after) is plenty of spending cash for Cymer. They keep bringing in
more each Q. :-)"

Take another look at the balance sheet. Setting asside the bond, was profitable every quarter this year, but on a cash flow basis they burned cash every quarter. Their customers choose not to pay their bills in a timely fashion and Cymer has been spending a ton of money on capital. Cymer does not have cash to spare.

The best suggestion I've heard so far is for Cymer to apply to move to the NYSE where manipulation is a little better controlled. A buy back is a bad idea given how Cymer has been burning cash. Perhaps after their first cash positive quarter, they might announce a small buyback, but until management shows that they know how to extract cash from the business, a buyback would be irresponsible.
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