I am receiving a terrific free daily newsletter
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I took a quick glance at the financial figures
from Wescam. Interesting company. I can not make any
comments on who the scam artists are as I have not been
involved as a customer.
I did notice a couple of
things that worry me about WSC.TO. The company's
accounts receiveables and inventory have grown much faster
than sales the last couple of years. Sometimes that is
a warning that 1) they are giving easy sales terms
(long time to pay) and 2) the product isn't going out
the door. This was a kiss of death at Commodore
Computer (and was there for all to see for a couple of
These are preliminary observations. Lunch time isn't
long enough to do complete due diligence by myself.
Perhaps someone has already explored these issues and can
provide insight that will save me time. Or perhaps
someone can pick up where I have left off at this time. I
also did not completely check out these ratios for
FLIR so they may be in the same
Perhaps one of the reasons Wescam continues to
win these contracts is that unlike FLIR, they are not
a bunch of SCAM artists. I have purchased from both
and can tell you that both have had problems but only
Wescam has any real integrity. Flir operates on the
promise anything and bluff when we cannot deliver
something that works within a year of it's promised arrival
Interesting results, huh? Expect Q4 to at a
minimum meet analysts expectations, even if they are
Really nice problem to have
last quarter: decreased sales; increased revenues.
Difficult, yet encouraging, to see that coming.
they pick up sales volume on new margins, and Q4
figures look real good.
What do you really want to know Reiver? Just
curious...perhaps if you want, you could send me an
Since you have email on yahoo, and I have email on
yahoo...it would make sense to email me on
Interesting stuff coming out on FLIR? Let's hope for all our
investments in this company that they will pull off a stellar
4th Q. I think it has been tradition that they have,
and I don't see why they won't this time.
FLIR exceeded my projections by quite a bit. I
had said revenues would be $48M with eps of $.30 to
Based on purely statistical analysis, next quarter
revenues will be in the $70M range with EPS around $.57.
While the revenue projection looks very optimistic, the
eps target is certainly reachable (and beatable) My
warranted market value for end of 2000 is 3-5X current
prices. This company is really
Thanks Jim for those enlightening words. Reading
between the lines, all the other segments are working
hard....so what is Portland doing? No numbers from the old
It is almost as if the company
should just be Inframetrics and Agema, and sell off the
PDX branch since they have not shown as much progress
as the other production centers.
FLIR's current position is this:
still up in the air on numbers. I will tell you this,
it is going to be close, however, and I have spoken
to one of the analysts that tracks FLIR, and they
are getting nervous.
FLIR has painted a rosy
picture, and consequently, the analysts have reacted as
such, yet FLIR needs to meet expectations. I truly
don't know how FLIR is going to do on Q3 earnings, but
expect some long overdue downgrades if FLIR fails to
meet expectations again.
The upside is that I
do KNOW that Q3 is going to be VERY close to meeting
expectations with a very strong finish in both the government
and the commercial business segments.
Regarding V.P.'s cashing out: I am not sure I would
characterize their positions as "losing faith" but rather as
"hedging their bets." I assume their fear is the same as
mine, and that another less than expected quarter would
be more devasting than a "meeting expectations"
quarter will be beneficial.
FLIR has had
significant trouble with the FIREFLIR, and this one of the
products/market segments that they expected to contribute to the
forecasted numbers. Analysts expectations are partially
derived from those forecasted sales numbers, and the
FIREFLIR sales have been dismal.
Planar issue: I do not think it is really relevant that
Stringer is on the BOD as far as an acquistion is
concerned, but if FLIR has been successful anywhere, it has
been keeping their acquistions very
Lastly, someone mentioned that the old Inframetrics was
leading the way in profits for a division, and that they
were surprised by this, that is no surprise to anyone
at FLIR. This "new" business segment is the best of
Inframetrics and the best of Agema combined. The best
products, the best management, the best sales force, the
best marketing, etc. This division is EXPECTED to
perform at a high level of sales and profits. Competition
in this market has been significantly stiffled and
this division above all else is where profit is and
will be coming from.
My comment was aimed at the personal slams on
this site. Flir has great products and, from what I
understand, has made some very positive management changes in
the last six months. I look forward to some
improvements in the stock prices but I don't think anybody's
going to get rich with this stock in the short term.