Ha!!! I agree with that too, at least to date. Hopefully the math will improve going forward.
For those that may have been Ceradyne investors before the 3M buyout. He seemed like a great guy and built an amazing company. I loved the conference calls and was refreshing to have a technical guy running the show:
"Joel Moskowitz, the founder of Ceradyne Inc., the Costa Mesa maker of lightweight body armor, died Sunday from complications of non-Hodgkin’s lymphoma. He was 75.
At the age of 28, Moskowitz used his savings, $5,000, to launch the company in 1967, concentrating on ceramics for industrial and military use, such as to harden the nose cones on missiles.
Ceradyne’s inventory would grow to include airplane seats, body armor for troops, automobile engine parts, roller bearings, and orthodontic braces.
The company was sold to St. Paul-Minn.-based 3M in 2012 for $860 million.
Ann Moskowitz, his wife of more than 50 years, said her husband’s legacy goes to soldiers’ lives saved on the battlefield.
“Because they’re still here,” she said Friday. “There won’t be a wall with 50,000 names on it, like there was after Vietnam.”
Her husband was diagnosed with lymphoma in the fall of 2004. She said he worked through it and all the treatments.
“We would get letters from the guys whose lives we saved; who had been knocked down and got up,” she recalled. “He’d be so excited; for those five minutes he wasn’t sick.”
The company fortunes took off in 2001 when the military began using Ceradyne’s lightweight, super-hard inserts for the bullet-proof vests in Afghanistan and later in Iraq.
During his tenure as CEO and president, Moskowitz diversified the company into other specialty products ranging from ceramic vessels for nuclear spent-fuel rods to bearings for oil and gas extraction and translucent orthodontic braces.
His career fell easily into the mold of an American success story created through grit and entrepreneurship....."
They filed for an extension. I almost missed this in the filing:
Net income for the period ended December 31, 2014 is anticipated to decrease as compared with the same period in 2013. In 2013 we reported a net income of $3,542,000; however we anticipate that net income for the period ended December 31, 2014 will be in the range of approximately $3,000,000 - $3,250,000, or $0.45 - $0.47 per share.
Total revenues are expected to decrease approximately $350,000 for 2014 compared to that reported for the same period of 2013. Total expenses are expected to decrease by approximately $100,000 over that previously reported for 2013.
Try looking at the financials. Try looking at the business prospects. Try looking at the valuation. It has nothing to do with the market.
I wouldn't brag about being out of the market since 2009. You must have gotten out near the bottom and missed a nice run. I understand your concerns about the market and there is always something about which to worry. However, one cannot compare SIMO of that time to the SIMO of today. Much has happened with the growth of new products since then. The transition was not just due to market forces but rather investments in product development that have paid off.
I don't know what got it started, but don't underestimate the affect of the IBDs (Investor's Business Daily) recommendations and ratings. They are followed by some serious momo folks that spike a price up sharply.
I don't need Genworth telling me that the average american doesn't know the cost of long term care when they themselves obviously don't know either and got themselves into this mess. I am not impressed by the photos and snippets of their experts who obviously don't know their head from their but wholes.
Yes, management was very defensive to the point of being rude to some very polite, well intentioned, and nicely presented questions.
That is a good question. If this market guru really had a product, it wouldn't be peddled on the internet. I have worked with multiple artificial intelligence systems in the past with a prominent economist and I am well aware of their capabilities and limitations. As far as having any sort of insight into the situation of HIMX other than repeating rumours, I would say forget about it.
This reminds me of a company GLPW that I bought some time ago. (This is not an endorsement). It came out of bankruptcy as a restructured and profitable company. However, it sold under a buck and wasn't listed. They did a reverse split and got themselves listed. The low valuation solved itself with a nice price rise in the shares.
Yep, you have been saying that for a couple of years now. You have no credibility.
Yes, it looked like a good Q1. I was hoping for that since the backlog reported in the year end report looked strong.
The only selling I have seen were partial amounts of his options which was probably to cover some the tax expenses unless I have missed something.