They sure talked a lot about the reorganization in the conference call. I don't have much basis to judge whether it sounds good or not. I guess the basic idea is organize along "verticals", which I gather means divide up the organization in groups focused on particular industries and thus be able to tailor the products to meeting specific needs of that particular industry, instead of making generic instruments.
I would imagine the tradeoff is potentially less economy of scale selling lower volumes of a lot of specialized products rather than higher volumes of generic products. However, I presume that their goal is to standardize the products as much as possible except for those features of the product where specialized features provide a real benefit for the particular application.
No comments on quarterly? I am impatient to see how the market responds to their results. Afterhours don't seem to provide any idea, although at one time my OLB showed bid of 27.25 ask of 41 so the 27.25 suggests to me it might be up a bit tomorrow.
Yeah, it sure looks that way to me. I mean, if the company were highly profitable they might have some justification in paying themselves hefty bonuses. But this compensation is enough to turn the company from marginally profitable to quite unprofitable.
Yup, for the full year their gaap to non gaap reconciliation table shows about 15.5 mil employee stock compensation.
I see that some goes on the line item of SG&A and some goes on the line of R&D. I never quite understood the rationale why companies claim these should be taken out when computing non GAAP.
I mean, I guess the rational for these expenses are that they are additional incentive pay for the employees. So we can just look at them as part of the cost of labor. But you don't exclude wages in non-GAAP earnings calculations, so why should you exclude stock compensation?
At any rate, this is not something I have looked at as closely as I should in the past, so I don't know whether Veeco's expenditures on this are within a reasonable range or are excessive.
At any rate, I put in a limit order to buy some at 15. Probably won't execute.
Do I read that correctly, they spent about 4 mil on employee stock compensation over the last quarter?
I was tempted to buy some Veeco stock after it drops to 16 or so based on the disappointing quarterly, but I am concerned about the stock compensation. Are Veeco management unduly enriching themselves from the company's coffers? Having such a huge cash balance is liable to lead to the mentality- hey, what does it hurt if I take some of that.
That would only bring the stock price back to where it was a few months ago. I would prefer to see $5-6 billion.
I invested in a lot of ACLS shares based on their new product line which holds promise of winning them big market share increases in the next few years.
And that still appears to be a well-founded point of view.
However, what I failed to look at was the market for ion implanters overall. When they indicated the TAM in 2016 is projected to be lower than 2015 it made me realize this major oversight on my part.
Articles on the implanter market lead me to now realize that the future for ion implanters is not necessarily a great one. I see articles talking about how some new semiconductor process nodes may rely more on doping techniques other than implantation.
In light of this I am now thinking my expectation that ACLS will rise to $10 or so per share over the next 2-3 years may be naive. I still think it's a decent investment, but the upside may be a lot less than I thought.
They make mundane broadband products. They don't seem to have much in the way of valuable proprietary technology. They carry net debt rather than net cash like most techs. Profitability is poor.
I just don't see much to like with this company.
I listened to their quarterly from early in Feb. Sounds pretty good to me. The stock has been in the doldrums. Techs have been down in general in recent weeks but Nano hasn't participated in the up days.
I can't see a lot not to like about this company. I bought some NANO stock today.
The only thing that concerns me is if KLA becomes an even more formidable 800 pound gorilla as a subsidiary of one of the two giants of the semi eqt industry.
The investor community clearly is having a hard time deciding on a market price for INFN right now. In premarket after its earnings report it dipped into the 11s, and then gyrated wildly in the regular market.
Would be great if the PIC being developed for metro can serve as a valuable technological trump card for new offerings in the Transmode product line.
I want a big chunk of that $15 billion TAM!