Hey guys,
Look at the whole year. Nam-Tai has never been consistant quarter to quarter, but 19 mil from operations for FY97 beats the hell out of 8.5 mil for FY96. That is real earnings. The other 11 mil is gravy from some guys who seem to know when to sell an asset, and now they have another 100 mil to invest!
I would like to see higher sales than the previous 96 4th quarter, but beating the previous years earnings performance is not to shabby.
The real question is, is this growth, ~20% sales ~100% earnings, going to continue. I would have liked to seen some statements to that affect.
Based on the analyst views earlier this year the projected earnings for the company was $2 a share. The actual is somewhere around $2.40 using 8 million as the # of shares from the beginning of the year when the predictions where made. To me that is called "Beating Expectations"!!
One can argue that the earnings are diluted by the new number of shares from the offering, but doing so you would discount all that beautiful green stuff that the company has aquired this year $102,411,000 vs 17,741,000 = $84,670,000 or $7.7 per share with 11 million shares outstanding (soon to be 10 million outstanding).
One thing that isn't mentioned is the fact that if the stock value stays relativly low and cash position high. This sucker is a real 1980's style leverage buyout candidate. some one only has to come up with about 7 bucks a share to buy it. Anyone wanna form a corporate raider wing of SI :)
Dan D |
