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A semiconductor company that designs, develops and markets high performance knowledge-based processors for a variety of advanced wireline and wireless networking systems.
I'm just going on the P/E, haven't checked the financials.
I'm not sure how it is that a company with a P/E of about 1000 when I rated it has gone up, but I see some of the recent news is going to kill this pig in short order.CSCO is no fool. While they may have bought the services of this company in the past, any one with any math skills can see that a company that has an operating margin of a mere 8-9% and a profit margin of less than 1% and then is trade for six times these pathetic values is a pig. So, if you want to own these kinds of operations, you don't buy this one, but look for a reasonably priced company.So, what's that, 75% of this company's already pathetic revenue is going to go disappear. Too bad the limit on an underperform call is only 100%.
Fourth quarter 2008 net loss, determined in accordance with generally accepted accounting principles (GAAP), was $0.9 million or $0.04 perdiluted share. By comparison, GAAP net income was $1.3 million or $0.06 per diluted share for the third quarter of 2008 and GAAP net losswas $4.8 million or $0.23 per diluted share for the fourth quarter of 2007. GAAP net income included stock-based compensation expense, theamortization of intangible assets, in-process research and development expense, and a fair value inventory adjustment. Excluding these items,non-GAAP net income for the fourth quarter of 2008 was $7.0 million or $0.30 per diluted share, compared with $0.42 per diluted share for thethird quarter of 2008 and $0.33 per diluted share for the fourth quarter of 2007.Yadda, yadda....A company dependent on research to maintain sales is able to manipulate their account to say adjusted they made money? Bogus accounting, absolutely bogus and should be illegal.And the stock based compensation, not only is that an expense, it is also a share dilution. Their research is 12-13 million/year, if they can only come up with 7 million after the bogus deduction of expenses, well, nuts.
Nice goin dwot. The stock is up 5x since your "I haven't even looked at the financials" short. Bought out by BRCM today at $50.
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