Siliconware Precision Industries (ADR) (NASDAQ:SPIL)
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The Company offers semiconductor packaging and testing services to the semiconductor industry for applications in communications, computing, consumer, automotive and industrial end markets.
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Taiwanese company that packages semiconductor IC's. Takes Taiwan-made chips and packages them for use in electronics products made in Taiwan, China and Korea (are there any electronics made anywhere else?) as well as rest of the world. No debt. About $1 per share cash. Peak annual cash flow was in '07 (remember those glory days? we didn't know then they were glorious, right?) at about $0.65/share and price hit about $10. Now (Jan 09), cash flow is arguably higher (though earnings are down), but price is 30% lower.