FSII - The Worst is Over? Message Board

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Technology Stocks : FSII - The Worst is Over?

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To: Joe Dancy who wrote (2041)	6/29/1998 11:04:00 PM
From: Donald Wennerstrom	Read Replies (1) of 2754

Joe, Yes, I still feel good about the company - it's just tough to wait it out until better times. It's not what I had in mind when I invested over 2 years ago and the writeups on the company at that time said it had a 35 percent per year growth rate. I thought I would be rich by this time.:) This is a company with a high book value and a lot of cash. They can ride it out for several years if that is what it takes until better times arrive. They suffer from excess capacity and that is a drag on their performance that some of the other semi-equips do not have. I notice they have also held very steady in their R&D expenditures. Even though their sales have dropped substantially, they have not cut back on R&D. If they had cut back, they could have maintained a positive earnings flow. I like to see that R&D investment consistency in management because it says they still have the eyes set on long range goals. I just wish the long range wasn't so far out.:) Regards, Don W.

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