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KEMET Corp. Message Board

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  • Reply to

    Loof

    by lucreton4 Aug 1, 2014 7:55 AM

    Well said. I vote but it means nothing.

  • Reply to

    Loof

    by lucreton4 Aug 1, 2014 7:55 AM

    Given the multi year record of poor performance, this is an issue of competency with the Board of Directors, not limited to Mr Loof although he is a member of the BOD. At the annual meeting, several long term members of the BOD including the chairman, were reelected. These Board members hired Mr Loof and have an unbroken record of approving non accretive acquisitions and unprofitable operating plans. This BOD has an agenda that is dismissive of shareholder value, allowing the opening line of the investor call to be “simply put, our Q1 performance is on schedule”...

    This BOD isn’t requiring increased shareholder value to be delivered by the CEO and I would not expect any change to be forthcoming given the indifference of the BOD

  • What kind of hold does this man have on the company? He continues to fail but profits at shareholder expense. A change at the top is a day late and a dollar short.

  • Reply to

    AVX

    by lucreton4 Jul 29, 2014 10:26 AM

    Yeah but that was before loof the goof came on board.

  • Reply to

    AVX

    by lucreton4 Jul 29, 2014 10:26 AM

    much higher cost to buy, funny how that works. Long term we'll see where the money is made.

  • Reply to

    AVX

    by lucreton4 Jul 29, 2014 10:26 AM

    In addition, they have plenty cash on hand and they don't make stupid deal. You have turned the corner before you get another money losing business. $50m for 34% of NEC-Tokin may be OK to try cross selling (not working) and more , but pouring more money into that deal now is stupid (especially you have to borrow $ to do so). By the way, in 1996, Vishay Intertechnology Inc. offered to buy kem @22/sh (I think that is = to $66/sh today's price), was rejected

  • Better managed company.

  • Reply to

    New Prediction, Last Hope

    by grntip_2000 Jul 25, 2014 1:46 PM

    Well it's only money, so from that standpoint it's not tragic. However we've seen this company just continue to pile up losses and I am certain bankruptcy is coming.

  • Reply to

    New Prediction, Last Hope

    by grntip_2000 Jul 25, 2014 1:46 PM

    Refinancing the debt isn’t likely; the balance sheet ratios don’t support a significantly lower rate. Regarding NEC/Tokin, where is KEMET going to get $250MM. Tokin is losing money with partial ownership; it will not be accretive with total ownership. Tokin is another “films” fiasco… this acquisition is only a good story for an ignorant BOD. Mr Loof would like to throw you a bone, but his plan is in full bloom and the math doesn’t work. On the good side, this is a GREAT trading stock, not a long term investment, but good money to be made trading up and down.

  • Reply to

    New Prediction, Last Hope

    by grntip_2000 Jul 25, 2014 1:46 PM

    I repeat. A good time to invest for those looking out a few quarters. Kemet is now a "Michael Price" kind of stock. This company has been thru it and survived. Yes, could go down a buck from here, but when, not if, it starts a run it will be significant, say 5 bagger on low end. Price by the way, was one of the best mutual fund investors, Mutual Beacon. I guess I have always been a patient value investor.

  • Reply to

    New Prediction, Last Hope

    by grntip_2000 Jul 25, 2014 1:46 PM

    Last hope.
    Hardly
    The balance sheet looks stressed up with this big bond but the company has fine operations, lots of relevant patents and product that is in constant demand.
    First a correction, I wrote yesterday Kemet lost 4 cents, in fact the loss is much bigger 23 cents. Much better than a year ago quarterly loss of 75 cents, but sill a significant loss. They lost $7Million. If it were not for over $10M in bond interest then they would have shown profit. They need to grow sales fast to $250M they also need Tokin to start showing profit.
    I agree with grntip that maybe something can be done with this bond where they pay a punishing over 10% cupon. Refinancing this will not be easy when all you show is a string of losses. I give this a low probability. As to paying for remaining stock in Tokin. Where do they get money to do this? They will most likely try to delay this somehow. The real solution is to grow sales. Should be easier to do than the other two.
    Overall it doesn't look tragic but it seems like a few more quarters to turn this turkey around.

  • I predict that Kemet will call in it's 10% bonds and do a debt Re-fi at a much lower interest rate which will save them a few Million each quarter. Also, that they will exercise their option to buy 100% of NEC Tokin and buy that company outright. All this will happen in the next few weeks, the August to September 2014 area. Get busy Loof, time right this ship and throw your disenchanted investors a bone!

  • Reply to

    FOOT IN MOUTH

    by grntip_2000 Jul 24, 2014 11:34 AM

    I take no joy in seeing people lose money on this dog. I want people to sell before the company goes bankrupt which they will in the next recession.

  • Reply to

    Coming Earning Report

    by stkchang Jul 17, 2014 6:13 PM

    I was wrong that is quite often the case. I will stick around at least 4 more Qtrs. The financing needed to Acquire the balance of NEC-Tokin is going to be tough. I don't think they can pull it off without dilution. As long as Cap-X is less than $40m , without the new financing for acquisition , the company can be free cash flow positive before the year is over.

  • Reply to

    Today miss

    by joshua1779 Jul 24, 2014 2:50 PM

    Problem is that even with this improvement cash stayed about the same and debt went up. This is obviously not sustainable. Is it my imagination or does Mr. Loft always promise that next quarter will be break-even. After about 10 quarters or so, i would say we have a credibility issue.

  • They missed but not by much. The results are much better that in the previous quarter and the one before. The result doesn't warrant this huge 13% drop in stock price.
    Kemet is working with a big handicap in form of the bit long term debt that costs them over $10M each quarter. It is result of their reckless overleveraging some ten years ago. Without this quarterly debt servicing they would show nice profit. Because of their mistakes in the past they now need to show very big profitability to service the debt. They almost pulled it off this quarter but missed a bit.

  • Is delisting finally in the cards for this chronically troubled POS?

  • I guess I was way off when I predicted that KEM was ready to make a run upward. It is days like this that Bobowins (the resident short) gets it right. This miss on earnings is lame. Loof better pull his head out!

  • Time to invest. Things are steadily improving.

  • Reply to

    On watch

    by rymipvy Jul 23, 2014 11:54 AM

    I doubt that, click Competitors and just compare that P/S figure. Lot more open air above than below.

KEM
5.12-0.09(-1.73%)Aug 20 4:00 PMEDT

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