CSCD- (recommended
to subscribers
on 4/18/05)
BOUGHT
at $8.39 SOLD
at $14.35
On February 15th 2005 Cascade
Microtech a provider of wafer probing solutions used to test semiconductors in wafer form,
reported 2004 4th quarter revenue of $18.4 million. Revenue was up 36%
from the year ago period. Revenue was up 8% on a sequential basis. Net
income was $1.7 million or 19 cents per share which compares to net
income of $308,000 or 5 cents per share in the 4th quarter of 2003.
Gross
margins in the 4th quarter were 47% up from 43.2% in the year earlier
period and up from 44.8% in the prior quarter.
Revenue for the full year was $64.4
million, up 27% over 2003. For the year gross margins were 44.6% vs.
39.8% in 2003. For the year net income was $4.6 million or 56 cents per
share.
During 2004 there was no single customer
that accounted for 10% or more of total revenue. Also during 2004
international revenue accounted for approximately 50% of total revenue.
Cascade Microtech expects 1st quarter
2005 revenue to be $17 million - $18.3 million with earnings per share
between 10 and 14 cents. Current consensus estimates call for 2005
earnings of 71 cents per share.
Cascade Microtech has cash and investments worth $46.5 million or $4.28 per
share and the company is debt free. Book value is $6.35 per share. At
the current price the stock has a price-to-sales ratio of 1.5 and a
price-to-book ratio of just 1.4.
6/17/05
- SOLD
AT $14.35 FOR A GAIN OF 71%. DURING THE SAME PERIOD THE NASDAQ
WAS
UP 8%.
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