Deswell Industries (DSWL) Message Board

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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.410

+3.6%

Nov 5 3:58 PM EST

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To: j rector who wrote (1137)	12/31/1998 9:38:00 AM
From: Ron Bower	Read Replies (1) of 1418

j & all, Buybacks: It would seem to me that any price below $12.00 would represent a bargain price to the company. With many companies, we see a large land & buildings, R&D, and 'goodwill' on the asset side of the balance sheet, all of questionable value. With Deswelll, the assets are CASH and equipment that has been depreciated on a fast 3-5 year schedule. Without additional capital expenditure, we would see Deswell's BV equal to the amount of cash in the bank. Slower growth and reduced capital expenditure could hurt the bottom line as Deswell's low tax rate has come from the incentives China provides to foreign corporations for capital expenditures. If they have been supporting, we have very weak buyer demand. If they haven't, someone or a group has been building a position over the last few weeks. I hope it has been the company buying because it would increase the percentage of the company we own. I now own the highest amount of shares I've ever had and will try to add some more today if the price gets near or below $9.50. FWIW, Ron

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