5) The Book to Bill released the other day reflects only semi orders
for the U.S. and doesn't reflect semi orders to foreign destinations. So although
it's still relied upon as an indicator, it doesn't accurately reflect how semi
companies' bookings really are if they sell to foreign markets. In their '95 report,
IDT indicated that foreign sales made up 39% of their overall revenue. Fiscal '95
revenues from Europe grew 41% from '94. Revenues from Japan grew an
average of 26% over the last two years. The remainder of the 39% internationally
derived revenues are from sales to Korea, India, Malaysia, China, Singapore, and
Australia. More expansion into Singapore and Korea is planned for fiscal '96. In
fiscal '95, the company expanded sales in Mexico and S. America, and the
company reports that orders from these countries were at an all time high last
year. What I'm trying to say is that hopefully the '96 book to bill on foreign orders
well exceeds 1.0. Their Malaysian facility has been expanded and is to be
completed in March. Their Phillipine facility should be operational by Jan '97.
Hopefully all of this is in good timing with foreign demand, and that foreign
demand for IDT's products are high.
In my opinion, IDT ain't in the btb snapshot.
6) Price of IDT may have had to have been lowered on purpose since the options to buy February 12.5 calls was so cheap.
&) I can go ad infinitum et ad nauseum if you like, but I'll refrain.
8) Response #4 was by semi engineer but my time window ran out, so I couldn't give him or her credit during that post. |
