I hear what you're saying. On the other hand, if you look at the 5-year averages FLEX, CLS and JBL all lost money on operations. That's pretty grim, although on the plus side the stocks are very popular right now.
Namtai, yeah, I admit the stock is badly out of favor. You have to be willing to take the risk of buying low. But in decent times NTE made lots of money.
WIth $4.39 cash per share and $7.20 book value and no debt this stock should be safe buy at current prices. Even with the market falling apart. But the stock will not go up if the sales do not go up. So one could face a dead money situation in here.
Just checked FLEX. They lost money in 2008 and 9, but made money in 2007, 2006 and 2005. Before that they indeed lost money several years in a row.
Checked also JBL. They lost money in 2009, but in all preceding 10 years they made money every year. So this industry is not so bad. The problem is with NTE not knowing how to increase sales. They just completed building a new factory in China. Maybe this will give them a push to start up sales.