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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom?
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To: Brad Rogers who wrote (187)1/27/1997 8:33:00 PM
From: Aleks Rabrenovich   of 2313
 
I am a first time poster to this forum, although I have been following Asyst for quite some time. I would think that closing down Automation division should be perceived as positive by the market. They have lost over $1.2 per share on Automation business in fiscal 1997. As far as EPS goes, they did not meet the estimates this quarter. If you take the reported income from continuing operations, add back the in-process R&D they wrote off from Radiance acquisition, and subtract the after-tax loss from discontinued operations (current quarter only, not the estimated costs of closure), they had about break-even quarter vs. estimates of $.15 - $.25 per share. One troubling aspect of the earnings release is that they had only 38% gross margin even on continuing operations. I certainly would have expected a mid-40% gross margin from core enclosure business. We shall see tomorrow how the market reacts.

Aleks Rabrenovich
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