CHS once again says that storage sales are strong.
Meanwhile, HTCH goes down to 14, INVX to 11, QNTM to 12 1/2, SEG to 18 1/2, even STK--recently a standout darling--now down to 22 or so.
excerpt from CHS review of sales:
Company sales in July and August totaled approximately $1.4 billion and are ahead of expectations, said
Claudio Osorio, chairman and chief executive officer of CHS Electronics. Gross margins were above seven
percent, he said, with operating expenses in line with company expectations. Inventory and accounts
receivable, he reported, are slightly above 30 days sales outstanding.
Reviewing Company operations region by region, Osorio said:
Western European sales, which represented 50 percent of Company sales in the second quarter, are
strong.
Eastern European sales, representing nine percent of total sales, despite instability in the Russian
economy, are in line with expectations. As expected in this crisis, sales have dropped sharply in
Russia; however, Russia is expected to be less than only one percent of sales. The Company
maintains no inventory in Russia and all sales to Russian customers are payable in U.S. dollars.
Karma sales, which are 15 percent of CHS sales, are running strong, with mass storage sales and
margins ahead of expectations.
Latin American sales, which are 20 percent of total, are ahead of expectations.
Asia and Middle East sales represent six percent of total revenue, and are within five percent of
expectations.
end excerpt
CHS stock down to 12 1/2 now. |
