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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?


To: EACarl who wrote (3149)9/1/1998 11:36:00 AM
From: Q.  Read Replies (1) | Respond to of 3736
 
EACarl you are right about the cash. It declined from $170 M to $140 M last quarter. Yahoo indicates an outdated cash/share due to the use of the outdated balance sheet. Yahoo gets its data from MarketGuide. So does Telescan, which I used in a recent post on the blood thread where I gave the cash per share. Apparently MarketGuide hasn't updated its data yet.

If you want the most recent ratio possible, I would use the no. of shares out, indicated at the top of the 10k, rather than the 'weighted average' shares out found in the income statement in the news release. The latter is averaged over the quarter so it is less recent. The shares out is 16.118 M shares vs. the 15.9 M you assumed. They've been diluting a little bit. This brings the cash per share down to $8.76.

At a stock price of 11 7/8, the price/cash ratio is 1.36 This isn't as low as I had previously thought, due to using the outdated cash value. Thanks for bringing this to our attention.



To: EACarl who wrote (3149)9/2/1998 6:27:00 PM
From: John Brickman  Read Replies (1) | Respond to of 3736
 
EACarl: It appears to me that they have included accounts receivable as "cash equivalents". With that, you would get the $11.1 per share.

Now I have a question. It seems that the best thing SFAM could do with their cash is to buy stock. It's been close to a year since their last issue. Does anyone know if they are restricted from buying stock now, and if so, when they will be free to do so.

Sincerely, JB