Forum Archive Index - July 2000

["Moose" <aorang@voyager.co.nz>]

Hi Jesse and others,

Thought I had sussed out a US stock to make me some real money on!
Flextronic Industries (FLEX)
Bought some @ $US71 two weeks ago, watched them go to $84  on 
Wednesday then after hours annouce the following quarterly result:-
First quarter revenue increased 139% from $956 million from a year ago to 
almost $2.3 billion. Operating profit was $97 million, an increase of 117%, 
net income before amortization and one-time charges was $77 million, an 
increase of 148%, and Diluted Cash Earnings Per Share was $0.37, up 
95% from a year ago. Free cash flow was $118 million, an increase of 
114% from the year ago quarter. Depreciation and amortization was $47 
million. 
Plus a 2 for one stock split!
Everyones recommending them as Strong buy!
Yep I was ready to pop the champagne!
Woke up early this morning and rushed to check the price. You guessed it, 
8 million shares traded and back to $72 (closed at $74).
Oh well guess I won't be a short term trader in US stocks after all!
Perhaps they will bounce tonight.
 
Have a good weekend all.

Regards,
Moose

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