CDW Holdings
20-10-2014, 09:13 PM
(20-10-2014, 07:50 PM)dzwm87 Wrote: Which management would say they don't remain optimistic? Some quarterly reports include statements like "Challenging for the rest of the year" Or even no statement about the outlook for the year's performance. If management makes a statement saying they are optimistic about performance, the yearly results can't be too bad or it either reflects management has misguided view and is incompetent, or is just plain unreliable
20-10-2014, 10:45 PM
Yes I agree with GFG.
Personally, I have seen many statements that "play safe" and downplay expectations. 
21-10-2014, 11:44 PM
(20-10-2014, 10:45 PM)sgpunter Wrote: Yes I agree with GFG. Agree, a common version seen is "mgmt remains cautiously optimistic" and you wonder why bother even making that statement. Should the weight be on "cautious" or "optimistic"? On another related note, it makes sense to look at mgmt's track record in making such statements. For CDW, I noticed the following as I scrummaged through past records: Q1 2010 - "cautiously optimistic about prospects"; EPS Q1 = 0.16 Q2 2010 - "cautiously optimistic about prospects"; EPS Q2 = 0.20 Q3 2010 - "remains optimistic about its future prospect, but believes that the business momentum will remain flat"; EPS Q3 = 0.13 Q4 2010 - "we are cautiously optimistic"; EPS Q4 = 0.20 Q1 2011 - no opinion on prospects provided; EPS Q1 = 0.20 Q2 2011 - "cautiously optimistic about prospects"; EPS Q2 = 0.28 Q3 2011 - "cautiously optimistic about prospects"; EPS Q3 = 0.33 Q4 2011 - "remain cautiously optimistic"; EPS Q4 = 0.12 Q1 2012 - no opinion on prospects provided; Loss per share Q1 = -0.05 Q2 2012 - "remains optimistic towards the Group’s operation and performance for 2012" ; EPS Q2 = 0.77 Q3 2012 - "remains optimistic"; EPS Q3 = 0.99 Q4 2012 - "cautious outlook going into FY2013"; EPS Q4 = 0.69 Q1 2013 - "remains optimistic"; EPS Q1 = 0.61 Q2 2013 - no opinion on prospects provided; EPS Q2 = 0.43 Q3 2013 - no opinion on prospects provided; EPS Q3 = 0.74 Q4 2013 - "outlook is necessarily cautious"; EPS Q4 = 0.62 Q1 2014 - "remains optimistic"; EPS Q1 = 0.30 Q2 2014 - "remains optimistic"; EPS Q2 = 0.37 So what can we learn from above? (1) CDW mgmt has been fairly consistent in their disclosure, in fact, leaning towards being more conservative than aggressive. Good. They certainly belong to the "cautiously optimistic" category. (2) CDW mgmt's views are a pretty poor predictor of subsequent period EPS. So, don't read too much into it, haa!
A stock well bought is half sold - Ben Graham
Price is the most important factor to use in relation to value - Walter Schloss
22-10-2014, 11:36 AM
(21-10-2014, 11:44 PM)FatBoi Wrote:(20-10-2014, 10:45 PM)sgpunter Wrote: Yes I agree with GFG. Hah wow. Gotta respect the effort put in to compile this! 
14 Nov 3Q14 Quarterly
EPS 9months = SGD 1.41c at today's exchange rates. Nothing much happening with the financials except for increasing NAV and profit coming in. 10mio for JV has not been factored into cash eq. yet apparently. 2.5mio now scheduled for making sure they have enough supplies for their production line which had lack of some parts and resulted in reduced revenue and profit this Q. Well at least Management is reacting. =============================================================================== Business segment outlook The LCD Backlight Units segment suffers from slowdown in sales orders of phased-out old models. It is the market trend that LCD backlight units for smart phones and tablets will dominate this segment. Such bigger size of LCD backlight units, albeit with higher average selling price, would lead to a lower profit margin compared to small size LCD backlight units as bigger size LCD backlight units require a higher proportion of materials. This trend is expected to persist in the foreseeable future. Volume orders of new models have been secured for the second half of FY2014, and Management continues to explore new customers in the PRC. For ultra-thin backlight units, the shortage of a key part due to production difficulty has affected the production and reduced the sales to the Group’s key customer. In order to secure a stable supply of this key part, Management is negotiating an equity investment in a supplier to expand its production capacity with output solely for the Group’s use. This investment will be approximately US$2.5 million, and the supply of the key part will pick up as soon as the facilities are installed. Contending against the weak and sluggish demand in the LCD Parts and Accessories, Management has secured orders of parts for tablets and super-thin, lightweight notebooks which maintain the segment’s profitability. ---------------------------------------------------------------------------------------------------------------------------------------------------- Sounds like there will be continued business and + cash flow from Sony's new line of Xperia and Vaio laptops to fund next final div payout and add to the already bulging cash pile. Net cash still stands at 88% despite recent price appreciation. Ooooo can't wait till they distribute all that MOOLAH!! (still happily surfing net in the bath-tub with my totally waterproofed Xperia Z1)
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28-11-2014, 04:55 PM
I've been wondering the same thing too...very rare to see such heavy volumes. A bit early to be anticipating the full year dividend payout as well. I think if it continues to keep going up, SGX may query. Well, we can only wait and see.
Highly likely share buy-backs in order to replenish their treasury shares for ESOS.
The other less likely possibility is that Sony jumped 4% today and this stock just follow.
Virtual currencies are worth virtually nothing.
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23-01-2015, 12:57 AM
Realising value slowly, almost 18 cent liao, hope business holds up
via Galaxy Tab S with Tapatalk
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
dated 27/1 - ACQUISITION OF 25% EQUITY INTEREST IN
SUZHOU PENGFU PHOTOELECTRIC TECHNOLOGY COMPANY LIMITED RATIONALE Pursuant to the terms and conditions of the Agreement, the funds injected are used to procure equipment and machinery to expand Pengfu’s production capacity from approximately 1 million units per month to approximately 2 million units per month. Further, Pengfu is obliged to accept orders from and supply to SHCD with first priority in all circumstances. This arrangement would allow the Company and its subsidiaries (the “Group”) to secure a continuous supply of light guide panels which are a key component of LCD backlight units manufactured by the Group. The Board, after careful consideration, is of the view that this transaction would strengthen the competitive edge of the LCD backlight units business of the Group and therefore is in the best interest of the Group. More details here ========================================== Closed 0.198 on very high volume... Does this mean business is picking up a lot in the next few quarters that they are investing in this company and doubling the capacity? It seems past quarter they have supply issues so maybe this is to counter any future disruptions. Possible reason is to cater for the new Vita units which are starting to sell better with the new remoteplay feature for PS4... Vita Sales Are Picking Up Thanks to PS4 Remote Play Still very good div yield but MOS has evaporated. Still 66% net cash though. Full year results coming soon. -v-
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