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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (4865)4/30/1999 11:51:00 AM
From: Ian@SI  Read Replies (3) of 15132
 
Justa,

Just listened to the KLIC replay.

I have to disagree with the conclusions broadcast by the talking heads (who probably didn't listen to the conference call) when they said the selloff yesterday was due to KLIC's report.

1. All forward looking statements coming out of that conference call were positive to very positive when applicable to the overall industry outlook.

2. Closing question was not at all favourable re RMBS's short to midterm outlook.

3. Scott is building the company for the next 10 to 20 years rather than managing it exclusively to produce the highest current stock price. i.e. - his decisions are such that KLIC will evolve into the "AMAT" of the back end with complete solutions rather than just tools or materials being sold to customers.

It's possible that this prudent management of the company and its future is so foreign to the analysts and their institutions that they have beat up the company.

If you price based upon the last / next quarter's results, then the beating is more than fair. If, on the other hand, you're looking for a company that will continue to generate solid longterm growth, KLIC now is a much better value than it was yesterday.

All in all, a very interesting replay.

FWIW,
Ian.
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