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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (4427)7/30/1999 3:44:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 4697
 
Ian, they have lost some $40 MM in the last quarter, the prices they are getting this year are 40% lower than what they got last year. Unlike chips, in wafers, there is not much additional cost savings you can do, and until they get major sales from the 300 program, where hopefully, they will get premium prices at the beginning, or unless there is a shortage developing in wafer capacity, I do not see them making money. They have cash on hand for another quarter or two of operation like the last quarter, and they have a credit line which is substantial (buit I would guess they will have to draw on for capex), so the financial health is not guaranteed.

Zeev



To: Ian@SI who wrote (4427)7/30/1999 9:25:00 PM
From: Carl R.  Respond to of 4697
 
If WFR is being actively managed, that would be a major change of direction. In the past they were more focused on suing people who gossiped about them on SI than they were about dealing with their business problems. I am grateful though, because their suit against SI caused me to sell my position at 32. The reason I don't own stock in them is that I don't have much confidence in their management.

Carl


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