I don't understand the details you mentioned in the second paragraph of your recent letter. Could you please explain? What are all the symbols you used? Also, have you gone to the company's website and listened to the broadcast concerning the last quarter? Seems cautiously optimistic to this investor. If you listened, what is your analysis?
I did go back and listen. PM gave absolutely incorrect information in repsonse to one analyst question. Probably out of ignorance, even though he should know better. Other possible reason is that his reply would be easier to swallow than the truth. This happens often.
He also appeared to be setting the stage for Parlex to again lose their largest single customer. We shall see.
Symbols are initials for G&A types at Parlex. Very top heavy company. Hired new CFO and kept old one around while laying off 20-40 functional people that the company schill called deadwood on a previous post. This included experienced, well regarded, people in the flex industry.
Do not recall conference call details but they seem to be losing previously touted Motorola auto business. PM's typical call and their press releases are diversions to the real story about how bad the business is really doing. Seems to always mention new design win or two that often do not pan out. Some past information on previous calls is just incorrect for whatever reason. Suggest that you pay more attention to the numbers rather than the verbal fluff.
Value of this company is greatly weighted towards inventory and equipment. True market value is fraction of current stock price, which appears to have been manipulated for some time. Not sure of their cash position but it is obviously degrading given their recent results. Look for attempts at more cash generating deals such as GulTech.