Meanwhile, management's prediction that the company should remain profitable this quarter with earnings around consensus estimates should look increasingly good relative to other semi equip companies as we go into the earnings warning season.
I agree with everything you've said and selling is the last thought I have. I'm just wondering when to buy --- and there I feel there's no hurry. I'd much rather lose a point or two on the upside than take in down from here.
As you know with SSPIF, the small caps have been crucified and only positive news will turn them around.
I've attended Cymer's annual meeting. I've toured the factory, met the management, and I know the Investor Relations Director. This isn't a company that's going to go under. Not even close. Anyone who says as much simply hasn't done his or her homework.
I would direct nay-sayers to the following information:
Historical background:
cymer.com
Stock repurchase decision:
cymer.com
Does anyone know the current status?
And, finally, Friday's announcement:
cymer.com
"We are currently in a highly volatile, rapidly changing market environment that continues to be affected by capacity issues in the semiconductor industry as well as the economic situations in Japan, Asia and the rest of the world," said Robert Akins, president and chief executive officer of Cymer. "Over the past several months, we have instituted a number of cost-reduction programs. However, in response to the prolonged downturn in the industry, it has become necessary to restructure for an even lower business volume in the near term. Our goal with this restructuring is to reduce our overhead structure and improve our efficiencies, while continuing to make sound investments in the resources that can provide for the long-term competitiveness and growth of Cymer."
If the company didn't take these measures we would have more reason to be upset. I was out of town on Friday, so don't know if you discussed other companies who've done the same. I can't think of any semiconductor or semi-equipment company who hasn't.
Do you think the market's over-reacting to the current situation?
It might be worthwhile re-posting CYMI's current cash status. It was discussed several weeks ago. Do you have it?
Holding firm and looking for a place to add ---
Pat |
