Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Michael Dunn who wrote (8081)	9/17/1999 10:35:00 AM
From: Q.	Respond to of 10921

re. AFCO, here's a table of the historical quarterly. You will note that the previous 12 months were bad. That was due to the Asian flu, which pounded many other suppliers to Asia as well, of course. Re. ASP, it declined in the first 9 months of the FY, but the latest earnings news release says that for Q4 (ending June '99): ``The market continued to improve throughout the fourth quarter as coated glass sales for Applied Films rose 27.7 percent from the prior quarter, reflecting improvements in both TN and STN markets and stabilized pricing in the market place,' Basically, they are a commodity supplier, and the market for this commodity looks like it is has entered a cyclical upswing, but the stock price doesn't reflect this development. I don't think AFCO is a buy-and-hold stock, but it seems like a reasonable intermediate-term value play. REVENUES (Thousands of U.S. Dollars) QUARTERS 1996 1997 1998 1999 SEP 7,139 6,279 11,251 9,351 DEC 4,656 7,806 13,173 6,176 MAR 4,709 9,935 15,312 8,216 JUN 5,234 10,030 13,305 7,779* TOTAL 21,738 34,050 53,041 31,522* EARNINGS PER SHARE SEP -0.030 0.020 0.230 -0.060 DEC -0.140 0.070 0.230 -0.090 MAR -0.190 0.230 0.230 0.040 JUN -0.020 0.250 0.170 0.050* TOTAL -0.380 0.570 0.860 -0.060*

To: Michael Dunn who wrote (8081)	10/28/1999 10:22:00 AM
From: Q.	Respond to of 10921

AFCO, the coated glass supplier for FPD's, reported earnings. Earnings are looking good, and the balance sheet is strong. Sales are up, although it isn't immediately obvious because they are reporting results for their big Chinese JV as a separate earnings item, rather than consolidating them into revenues, COGS, etc. I listened to the conference call, which had 2 analysts. Both the China and Colorado plants are running near capacity, and demand is growing, especially for palm-top screens. Prospects for selling their sputter-deposition equipment in Korea are also looking pretty good, although that is a much more lumpy revenue stream. The stock trades thinly, and it doesn't respond much to news. It might be a candidate for a January effect play at year-end.