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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.390

-0.3%

Nov 7 9:30 AM EST

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To: Ron Bower who wrote (864)	8/4/1998 12:05:00 PM
From: peter michaelson	Read Replies (1) of 1418

Late postscript: I must have overlooked something, NTAIF is down to $9 3/4 now. Can't find any news. Must be very bad earnings coming. Ron: I still haven't found time to read through this thread in its entirety, so please forgive me for any repetition. Re Nam Tai Electronics (yes, I know there's a thread on it), price has fallen over 10% today, and I just bought a bought a few shares at $10.75. Even after the investment in Group Sense, I figure there's $81 million of cash, or $8.50 per share. Last years income from operation was $19 million ($2 per share) and prior year was $0.90 per share. It's fairly easy to envision op.inc. of $.50 this year, giving a multiple of operating income, net of cash, of about 4x. I realize that the principal owner and CEO is a subject of controversy and that there is some suspicion surrounding the company. Nevertheless, seems cheap to me. Earnings release after market close on August 6. Thoughts? Peter

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