<<Korean dollar depreciation and monetary turmoil will affect DPMI's
operation revenue from Asia.
DPMI's main Asia facility is in Korea.>>
Albert, my thoughts on the upward movement of PLAB are that some
buyers are jumping on the stock on the belief that it over corrected
in response to the turmoil is Asia. From recent filings, Photonics does
most of it's business in the US, while Dupont has a large part of it's
sales to Asian companies.
From PLAB SEC filings:
NET OPERATING IDENTIFIABLE
SALES INCOME (LOSS) ASSETS
-------- ------------- ------------
<S> <C> <C> <C>
United States............................... $153,227 $32,660 $181,255
Europe and Asia............................. 6,844 (395) 30,648
-------- ------- --------
$160,071 $32,265 $211,903
======== ======= ========
</TABLE>
Approximately 14% of net domestic sales in 1996 were for delivery outside of
the United States (11% in 1995 and 13% in 1994).
The Company's largest single customer represented approximately 36% of total
net sales in 1994, 32% in 1995, 26% in 1996 and 23% in the three months ended
February 2, 1997.
I'm wondering if this is justified. Do you know if Photonics has plans
of strong expansion into Asia? If so, then future earnings could be
impacted to a similar degree that Dupont's future earnings would be.
Peter |
