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Technology Stocks : Spansion Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Pam who wrote (3383)	2/14/2008 2:26:21 PM
From: BUGGI-WO	Read Replies (1) \| Respond to of 4590

@Pam " Do you know how to read an I/S? Did you know that SSTI had a 380K in OI last quarter. Did you care to find out where the reported loss came from? " They have written down some things, I was aware of that fact, but correct me if I'm wrong - these things happened, or not? You wanted to show us/me, that SSTI is much more healthy compared to SSTI without any facts. I give you real hard facts. SSTI 2006 Revs. = 452Mio => Loss = 20,8Mio. 2007 Revs. = 411Mio => Loss = 49,7Mio. (without one-timer 30Mio.) sst.com What did we saw here? Revs. YoY decreased at this "great" company by 9% and loss without one-timer increased around 50%. Wow. The net loss in 2006 compared to all revs. was 4,6% - in 2007 without the one-timer it was 7,3% (with One-timer = 12%). Lets look again at Spansion, which you find always so much worse compared to "others". SPSN 2006 Revs. = 2579Mio => Loss = 148Mio. 2007 Revs. = 2500Mio => Loss = 263Mio. investor.spansion.com So, the rev. stayed at the same level (roughly), but loss widened, thats bad. But look at the numbers compared to SSTI for 2006 and 2007 -> 5,7%/10,5%. They are a but more worse (better with One-timer incl.) compared to SSTI, thats right, but does that mean, that a SSTI market valuation has to be around 3-4x times higer? Just look for further peer-valuation measures at QI. Look at their last quarters and look how their balanced sheet developed over time and compare this to SPSN. I think once Nymonix will be in place, we will have the first indication how another NOR company could be valued. When we take current marketshare positions and the general outlook, Newco should be worth less than SPSN - which would put Newco in 350-400Mio. range. I remember everyone that Francisco Partner payed 150Mio. for under 7% share. " Francisco Partners L.P., a Menlo Park, Calif.-based private equity firm, will invest $150 million in cash for convertible preferred stock representing a 6.3 percent ownership interest " intel.com BUGGI