if you had saw their financial report in May, would you have buy it? Now that sudden shot up from 2.5 to 3.5.. since May there have been alot of share buy back...
z says:
past 4 yrs revenue: dropping from 222.2,246.2,227 to 206.9
operating income dropped from 31.7, 25.5, 15.9 to -1.1
net income dropping from 26.3,23,14.7 to 9.2,
touch economical environment for technology business
good thing: at may, cash 59m, total borrowing 38m,NAV at 51.9,PE at 9.6.PB at 0.7
got extra cash to do buy back to increase per share value, price still ok
concern:can they improve the revenue and bottom line in the long run?
inventory went up from 55m to 71m, another concern about efficiency too
anyway, technology company quite cyclical,
now got quite a number of companies with low PE, PB with extra cash, my concern is their long tern earning ability
take a look at Avi-Tech Electronics
similiar, latest PE at 12,PB at 1, has about 50m cash, debt only about 12m,
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