This response is to Wayne (I won't respond on News Only):
Their [PMCS] earnings are coming out thursday. This
will be the 5th quarter in the row that they
substancially beat estimates. ATM is only five years
old. Their revenue are still under 150 million. They
have been in it since the beginning and play a major
part in developing standards. Their revenues have
been growing 25% quarter to quarter.
Market Guide says:
BRIEF: PMCS designs, develops, markets, and supports high-
performance semiconductor system solutions for advanced
communications markets. For the 9 months ended 9/30/97,
revenues fell 37% to $95.5M. Net income totalled $24.7M vs.
a loss of $57.3M. Revenues reflect a decline in sales of
user interface products due to the Company exiting the modem
chipset business. Earnings reflect the absence of $64.7M in
restructuring charges and $7.8M of acquired R&D write-offs.
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1994 1995 1996 1997
1st Qtr MAR 21,408 36,939 64,396 33,574
2nd Qtr JUN 22,223 42,201 53,022 34,064
3rd Qtr SEP 26,681 50,700 34,726 27,815
4th Qtr DEC 34,452 58,884 36,227
EPS (U.S. Dollars per share)
1st Qtr MAR 0.030 0.160 0.290 0.270
2nd Qtr JUN 0.050 0.230 0.240 0.280
3rd Qtr SEP -0.590 -0.050 -2.460 0.220
4th Qtr DEC 0.130 0.470 0.290
This may be a great company, but since 1Q96, revenue seems to
have declined almost every quarter. Indeed, at one time
revenue was not under 150MM, but rather exceeded 150MM (1996).
Under my new due diligence requirement, I'd really need more information
before I'd invest.
Again, PMCS may be a great company, but I learned my
lesson in 1997: it pays to do one's homework first.
If that means I miss a quickie "opportunity," so be it.
Others will come along.
Gary Korn |
