SMSC Standard Microsystems Message Board

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Technology Stocks : SMSC Standard Microsystems

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To: Robert Salasidis who wrote (27)	10/31/1996 7:00:00 PM
From: John Prugh	of 335

Hi, Robert ... or anybody, I need some help -- an explanation actually. Let's see if I've got this straight . . . According to the financial data, SMSC earned $0.1 million in the most recent quarter after a one-time non-recurring charge (i.e. loss, right?) of some $17 million. in other words, SMSC earnings were about $18 million, representing an increase of about 1000%. And in the quarter ending February 1996, earnings were exagerrated (sp?) by a sales gain of close to $50 million. In short, SMSC earnings have been exploding at an astronomical rate for the past 3 quarters. And yet the stock price continues to drop. That doesn't make sense. Am I reading the earnings statements correctly. Is SMSC really growing at close to 1000% per quarter? And if so, why does the price of the stock continue to drop. (By the way, I am taking these numbers from the summary provided by techstocks in the profile of SMSC.) Any insights would be appreciated!

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