IDTI - an IC Play on Growth Markets Message Board

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Technology Stocks : IDTI - an IC Play on Growth Markets

IDTI 48.99

0.0%

Mar 29 5:00 PM EST

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To: OldAIMGuy who wrote (8267)	5/7/1998 7:27:00 PM
From: 5,17,37,5,101,...	Read Replies (1) of 11555

Tom, The R&D method makes sense if R&D would be expected to translate into future growth and cash flow. IDTI management has not shown that they can do this. Also I question how they calculate their R&D account. Are they including plant investment? Of course this begins to surpass my semi. knowledge. But it's something to consider before relying on the number they provide. At any rate, if some of plant investment is included in R&D, then assets and earnings are understated. (Cash flow number is unaffected; that's why I like DCF.) If not, then IDT is undervalued by MM method. So either way, it's a winner at this price or lower. Jackson

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