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Technology Stocks : Plexus Corporation (PLXS on NASDAQ)
PLXS 157.72+1.7%Jan 9 9:30 AM EST
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To: jim heger who wrote (109)1/20/1999 1:34:00 PM
From: rich evans  Read Replies (1) of 128
 
Plexus still doing well according to CC of Q1- 99. Looks like Motorola business still developing as they are still number 4 on list of customers at 8%. I was wrong on my last post about their TGI ( engineering revenues). It is only 6% of business not 20%. It is growing at 20-30 %. Margins forecast to stay at 14% gross with 5% SGA giving 9% operating. Revenues were flat from Q4 as you know and not expected to grow significantly until Q4 unless their is an aquisition which they are looking at hard both as to other EMS company or OEM factory and Engineering firm also.A Mexico plantthey said is what their customers are asking about not Europe. Ascend still number 2 at 12% behind GE with their router and ATM switch which PLXS makes. They don't expect Lucent Merger to effect business and in fact Keith Dunne of Robby Stevens wondered if the merger could be a plus causing more outsourcing by Lucent going Plexus way. I faxed the CFO Sabol a blurb on ELAMF which is a small Mexican EMS. They are looking to spend the 28 million in cash they have on an acquisition and looking for a transaction in the 40 million dollar range but willing to borrow and do more if the right deal comes along. So in conclusion company should not hiccup this year but not resume strong growth internally until Q4 but their is good likelyhood ( not Robinhood ) of an acquisiton which could change things a lot.

Rich
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