You can have your hope on IDTI this year. However, as long as Perham remains as the CEO, there is not much possibility for IDTI to out-perform the semi sector. The earnings and stock performance of IDTI in last few years have clearly demonstrated it. I have not done the detailed calculation. But if all the earnings and loses during the the period when Perham is the CEO are added together, I think IDTI's net earning is negative. In any case, from April 1, 1993 to the December 31, 1998, the net earning of IDTI, when summed together, is (NEGATIVE) -$87 millions. Clearly, Perham not only failed create any value, he has destroyed a lot of shareholder values in last 5.75 years. Why do we shareholders have to pay this man (>$300K/year) to destroy our value ?
Stock price follows its earning. When there is not earning and only hypes, stock price is not likely to move up. A lot of IDTI shareholders (including me) must feel sad when the semi sector rockets higher while IDTI stays where it was. We only have two choices: either sell the stock or remove Perham. I have selected the second way so far, and have sent a letter to the Chairman of the Board on IDTI management's performance. If you guys also send your letters, there will be some effects before the August annual meeting. |
