NTE : sembra buona

miris

Le so tutte :-)
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Market Cap (intraday): 1.12B
Enterprise Value (26-Feb-04)³: 1.06B
Trailing P/E (ttm, intraday): 26.14
Forward P/E (fye 31-Dec-05)¹: 14.30
PEG Ratio (5 yr expected)¹: 0.75
Price/Sales (ttm): 2.76
Price/Book (mrq): 5.29
Enterprise Value/Revenue (ttm)³: 2.62
Enterprise Value/EBITDA (ttm)³: 21.44


FINANCIAL HIGHLIGHTS

Fiscal Year
Fiscal Year Ends: 31-Dec
Most Recent Quarter (mrq): 31-Dec-03


Profitability
Profit Margin (ttm): 11.08%
Operating Margin (ttm): 9.20%


Management Effectiveness
Return on Assets (ttm): 15.35%
Return on Equity (ttm): 20.17%


Income Statement
Revenue (ttm): 406.31M
Revenue Per Share (ttm): 9.95
Revenue Growth (lfy)³: 0.90%
Gross Profit (ttm)²: 38.06M
EBITDA (ttm): 49.65M
Net Income Avl to Common (ttm): 43.80M
Diluted EPS (ttm): 1.072
Earnings Growth (lfy)³: 121.40%


Balance Sheet
Total Cash (mrq): 61.83M
Total Cash Per Share (mrq): 1.54
Total Debt (mrq)²: 4.69M
Total Debt/Equity (mrq): 0.022
Current Ratio (mrq): 2.292
Book Value Per Share (mrq): 5.299


Cash Flow Statement
From Operations (ttm)³: N/A
Free Cashflow (ttm)³: N/A
 
ora sembra proprio pronta





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Le ho in carico a 19, 5 .é' in grado di ipnotizzari da quanto è noiosa ma ha avuto un primo sussulto i primi di Gennaio quando ha annunciato che le vendite nel 2004 sono aumentate del 30% sul 2003 e a Dicembre sono aumentate del 70% sul dicembre 2003.
Ora ha annunciato che a Gennaio le vendite sono state superiori del 6,4% su Dicembre e ha avuto un secondo sussulto. Il settore , schermi al plasma , poi commercialmente dovrebbe andare.
Molte cinesi stanno recuperando .In questo periodo c'è il capodanno cinese e in genere la borsa i primi mesi dell'anno performa meglio , in cina.
 
Questa è l'unica cinese che va in questi giorni . Qualcuno che la segue?
 
Nam Tai Electronics, Inc.; Dividend in 2005 Increased 175% to $1.32 Per Share
MONDAY, FEBRUARY 07, 2005 9:00 AM
- PR Newswire




NTE
23.54 +0.10





Enter Symbol:



Enter Keyword:



VANCOUVER, British Columbia, Feb 07, 2005 /PRNewswire-FirstCall via COMTEX/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) is pleased to announce its unaudited results for the fourth quarter ended December 31, 2004.

KEY HIGHLIGHTS
(In thousands of US Dollars, except as otherwise stated)

Quarterly Results Twelve Months Results
4Q 2004 4Q 2003 YoY(%) 2004 2003 YoY(%)
Net sales 152,776 108,454 40.9 533,861 406,306 31.4
Gross Profit 19,386 17,275 12.2 76,476 66,290 15.4
% of sales 12.7% 15.9% 14.3% 16.3%
Income from
operations 10,280 7,765 32.4 43,378 37,387 16.0
% of sales 6.7% 7.2% 8.1% 9.2%
per share
(diluted) $0.24 $0.19 26.3 $1.02 $0.92 10.9
Net income (loss)
(a) &(b) (42,465) 13,706 -409.8 66,885 43,802 52.7
% of sales -27.8% 12.6% 12.5% 10.8%
Basic earnings
per share ($1.00) $0.33 -397.6 $1.57 $1.09 44.9
Diluted earnings
per share N/A $0.33 N/A $1.57 $1.07 46.6
Weighted average
number of shares
('000)
Basic 42,665 40,975 - 42,496 40,336 -

Diluted 42,733 41,253 - 42,548 40,839 -

Notes:
(a) Other income in the fourth quarter of 2004 consisted of $6.2 million
from the partial disposal of the Company's interest in its subsidiary,
JIC Technology Company Limited. In the fourth quarter of 2003, other
income amounted to a total of $2.0 million.

(b) After adjusting for the unrealized loss on the impairment of
marketable securities in TCL Communication in the fourth quarter of
2004, the Pro-forma net income and earnings per shares would be as
follow:



Quarterly Results Twelve Months Results
4Q 2004 4Q 2003 YoY(%) 2004 2003 YoY(%)
US GAAP based
income from
operations 10,280 7,765 32.4 43,378 37,387 16.0
US GAAP based
other income
(loss) /income
tax (expenses)
benefit /
minority
interests (52,745) 5,941 23,507 6,415
US GAAP based
net income
(loss) (42,465) 13,706 -409.8 66,885 43,802 52.7
Add:
Unrealized
loss on the
impairment of
marketable
securities in
TCL
Communication 58,316 58,316

Pro-forma net
income 15,851 13,706 15.7 125,201 43,802 185.8
% of sales 10.4% 12.6% 23.5% 10.8%
Proforma
Basic earnings
per share $0.37 $0.33 11.1 $2.95 $1.09 171.3
Diluted earning
per share $0.37 $0.33 11.6 $2.94 $1.07 174.4
Weighted average
number of
shares ('000)
Basic 42,665 40,975 - 42,496 40,336 -
Diluted 42,733 41,253 - 42,548 40,839 -

Note:


Excluding the $58.3 million non-cash unrealized loss on the impairment of marketable securities in TCL Communication during the fourth quarter of 2004, the cash based realized gain on other income after deducting income tax expense and minority interests for the year of 2004 was $81.8 million.

Nam Tai is excited to announce that it has achieved its strongest sales in the fourth quarter ended December 31, 2004. The net sales of $152.8 million for the fourth quarter of 2004 not only exceeded the fourth quarter upper sales guidance of $135 million given by Nam Tai, it is also a new record quarterly sales of the Company. Sales were driven mainly by key component sub-assemblies, such as CMOS image sensor modules for cellular phones with built in camera function and flexible printed circuit board ("FPC") sub-assemblies. Such business, which is high-tech in focus and has the potential for significant growth, is currently the main focus of Nam Tai.

The gross profit margin for the fourth quarter of 2004 decreased to 12.7% mainly because of the prevalent product mix. The orders for key component sub-assembly business, which generally accounts for lower gross profit margins, sharply increased in the fourth quarter of 2004, causing a reduction in overall gross profit margins. High oil price and a strong Yen also impacted the operation costs.

However, strong sales growth augmented operating income, offsetting the impact of lower gross profit margins. The Company attained an income from operations per share of $0.24, which also exceeded the upper guidance given by Nam Tai.

For the whole year, Nam Tai achieved an impressive sales growth of 31.4%, reaching net sales of $533.9 million. The net income for the whole year has also increased remarkably by 52.7% to $66.9 million, partly due to the benefit of certain one-time other income items.
 
Company Outlook

The Company has been very successful in shifting its focus to key component sub-assembly, which accounted for 64% of its sales in the fourth quarter of 2004 and 59% of its sales for the whole year of 2004. Nam Tai believes that the strong growth of this business will offset the impact of lower gross profit margins and the Company can continue to achieve strong growth in its overall profits. In the long run, Nam Tai expects to achieve an overall gross profit margin of around 12%, which is still one of the leaders in the EMS industry.

The Company is also well-positioned for any re-valuation of the RMB. Two of its subsidiaries, Nam Tai Electronic & Electrical Products Limited and J.I.C. Technology Company Limited are listed on the Hong Kong Stock Exchange. The Company also has investments in TCL Corporation and TCL Communication, which shares are denominated in either RMB or HK$. All these will help to hedge the risk of any re-valuation of the RMB.

To maintain its future growth, Nam Tai must keep itself abreast of its competitors. As a result, the Company has to put more resources on R&D and new production capacity to back up its continued growth. Nam Tai may have to be more vertically integrated to maintain its competitive edge. The SG&A expenses in forthcoming years will accordingly increase. However, the Company is confident that it can find a proper balance point so that the growth of its earnings per share will not be slowed down and its shareholders will continue to be rewarded like before.

The Company is pleased to adjust its long-term target growth rate for net sales from 22% per annum to 25% per annum for the coming five years. The short-term target growth rate for 2005 is temporarily adjusted to 30%-35%, taking in account the Company's current situation. This year to year short-term target growth rate will be adjusted if the Company's business continues to grow significantly as it has recently.

Nam Tai's sales are seasonally lower in the first quarter. However, Nam Tai is encouraged by its performance in the fourth quarter of 2004. The Company is looking forward to achieving a new quarterly sales record for the first quarter of 2005. Based on current market conditions and orders on hand as well as orders carried forward from the fourth quarter of 2004, the Company is pleased to provide the following business projection for the first quarter of 2005.

(In millions of US Dollars, except for earnings per share)

1Q 2005
1Q 2005 1Q 2004 vs 4Q 2004
(Estimated) (Actual) 1Q 2004 (Actual)
Sales $150 -$155 $95 58%-63% $153
Pro Forma Earnings
per Share (diluted)(a) $0.22 -$0.24 $0.15(b) 47%-60% $0.23(c)

Note: (a) Diluted Earnings per share includes tax expenses and the
minority interest of 25% in NTEEP and approximately 28% in JIC
and 20% in Namtek Software Development Company Limited
(b) Excluded US$1.4 million dividend income from Huizhou TCL Mobile
Communication Company Limited.
(c) Excluded US$6.2 million gain on partial disposal of
subsidiaries and US$58.3 million unrealized loss on the
impairment of marketable securities in TCL Communication.


"2004 was once again a year of great harvest for Nam Tai," said Mr. Joseph Li, CEO of Nam Tai. "We have achieved new records in 2004 and are looking forward to breaking these records in 2005. We are so pleased that our strategy of focusing on key component sub-assembly has been so successful. With upgraded production technology and capability, expanded new production capacity which construction has completed on schedule, and a strong cash reserve, we are very confident for our continued growth and our capability to satisfy our customers' strong demand. All businesses of Nam Tai are now run by its four subsidiary groups and Nam Tai has become a holding company. Each subsidiary group has a different team of independent management. They are focused on different product segments and customers. This corporate structure provides flexibility and enhances Nam Tai's responsiveness to requests of customers and any changes in the market environment. With our experienced management teams, we strongly believe we can continue to enjoy more successful years ahead. "

Unrealized Loss on Marketable Securities in TCL Communication

In the third quarter of 2004, the Company classified its investment in TCL Communication as marketable securities - available for sale and recorded the difference between the fair market value and the carrying cost of such investment in shareholders' equity. Under US GAAP, there will be no impact on Nam Tai's income statement until such investments are sold. However, in light of the performance of the share price of TCL Communication since its listing in September, 2004, the Company considered it a prudent approach to record the unrealized loss of its investment in TCL Communication pursuant to the guidance from Emerging Issue Task Force 03-1 issued by the Financial Accounting Standard Board. The initial cost of our investment of TCL Communication was $79.5 million. The fair market value as calculated by reference to the closing price of the shares of TCL Communication as at December 31, 2004 was $21.2 million. Accordingly, an aggregated unrealized loss of $58.3 million was recorded in Nam Tai's income statement for the fourth quarter of 2004.

Such unrealized loss has no impact on Nam Tai's cash position. The Company still has confidence in its investment in TCL Communication and believes it will again benefit its shareholders when it realizes its investment in TCL Communication.

Compliance with Sarbanes-Oxley Act

The Company has engaged an external consultant to advise the Company on its compliance with Section 404 of the Sarbanes-Oxley Act ("the Act"). The Company is confident that it will meet the deadline for compliance on time towards the end of 2005. The estimated cost in relation to the compliance process is expected to be immaterial and will have no significant impact to the Company's earnings for 2005.

Dividend for 2005

To maintain a strong financial position to support and back up the future growth of the Company, the Company, after due consideration, has decided not to pay any special dividend.

Regarding the regular dividend, taking into account the cash on hand, the expansion plans of the Company and its earnings in 2004, the Company has taken a conservative approach and determined the regular dividend for 2005 to be $1.32 per share to be paid quarterly at the rate of $0.33 per share. This represents an increase of 175% from the dividend paid in 2004, following an increase of 140% in 2004 from 2003. The Board considers this to be an appropriate reward for the shareholders and the dividend paid will not affect the continuous growth of the Company.

The payment dates and record dates for the quarterly dividend of $0.33 per share payable in each quarter for 2005 are as follows:-

Record Date Payment Date Dividend
(US$)
1 March 31, 2005 On or before April 21, 2005 $0.33
2 June 30, 2005 On or before July 21, 2005 $0.33
3 September 30, 2005 On or before Oct 21, 2005 $0.33
4 December 31, 2005 On or before January 21, 2006 $0.33
Total $1.32
 
Supplementary Information (Unaudited) for the Fourth Quarter of 2004

1. Quarterly Sales Breakdown
(In Thousands of US Dollars)
Quarter 2004 2003 YoY(%) YoY(%)
(Quarterly) (Quarterly
accumulated)
1st Quarter 95,435 87,981 8.5% 8.5%
2nd Quarter 147,664 116,714 26.5% 18.8%
3rd Quarter 137,986 93,157 48.1% 27.9%
4th Quarter 152,776 108,454 40.9% 31.4%
Total 533,861 406,306


Net Sales Breakdown by Product Segment
2004 2003
Segment 4Q YTD 4Q YTD
(%) (%) (%) (%)
Consumer Electronics
and Communication
Products (a) 28% 31% 31% 32%
Telecom. Components
Assembly:
- Telecom. Components
Assembly (b) 64% 59% 58% 57%
- Software Development
Services (c) 1% 1% 1% 1%
Parts & Components:
- LCD Panels (d) 7% 9% 10% 9%

- Transformers (e) 0% 0% 0% 1%
100% 100% 100% 100%

Note:
(a) Represents the sales of Nam Tai Electronic & Electrical Products Ltd.
(b) Represents the sales of Zastron Precision-Tech Limited (formerly
known as Nam Tai Telecom (Cayman) Co., Ltd.)
(c) Represents the sales of Namtek Software Development Company Limited
(d) Represents the sales of JIC
(e) In June 2003, we sold our transformers operation to a third party.

Key Highlight of Financial Position

(unaudited) (audited)
As at December 31 As at December 31
2004 2003
Cash on Hand $160.6 million (a) $61.8 million
Marketable Securities $41.9 million -
Cash/Current Liabilities 1.38 0.83
Current Ratio 2.87 2.25
Total Assets/Total Liabilities 3.79 3.88
Debtors Turnover 62 days 58 days
Inventory Turnover 20 times 13 times
Average Payable Period 72 days 60 days

Note : (a) Taking into consideration the $10.2 million in proceeds from
the partial disposal of shares in J.I.C. Technology Company
Limited, which was recorded in Prepaid Expenses and Other
Receivable as at December 31, 2004 and received on January 3,
2005. The cash on hand for the Company would have been $170.8
million.

Fourth Quarter Results Analyst Conference Call


The Company will hold a conference call on Monday, February 7, 2005 at 10:00 a.m. Eastern Time for analysts to discuss the fourth quarter results with management. Shareholders, media, and interested investors are invited to listen to the live conference over the internet by going to http://www.namtai.com/news/news.htm and clicking on the conference call link or over the phone by dialing (612) 288-0329 just prior to its start time. Callers will be asked to register with the conference call operator.

About Nam Tai Electronics, Inc.

We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, flexible printed circuit sub-assemblies and image sensor modules. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.

Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited ("NTEEP") and J.I.C. Technology Company Limited ("JIC") and their Fourth Quarter Results were announced earlier today in Hong Kong. Interested investors may go to the website of The Stock Exchange of Hong Kong at http://www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC on The Stock Exchange of Hong Kong are the 2633 and 987 respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have different peak seasons during a year.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws. Nam Tai intends that these statements be covered by the safe harbors created under these laws. These forward-looking statements are, by their nature, subject to risks, uncertainties and other factors that could cause the actual results to differ materially from future results expressed or implied by the forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Company's projected sales and (diluted) earnings per share for the first quarter of 2005, and the ability of the Company to finance investments and business expansions through internal resources in the foreseeable future. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of our future performance. There are important factors that could cause the actual results to differ materially from the information set forth in these forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements which only speak as of the date of this press release. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this news release might not occur the way we expect, or at all. Nam Tai does not undertake any obligation to release publicly any revisions to these forward- looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. These factors include, without limitation, lower than expected sales in the first quarter of 2005, unexpected changes to the Company's cash position, general economic, market and business conditions and other factors beyond the Company's control.
 
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NAM TAI ELECTRONICS, INC. Wins New Orders from New Customer
MONDAY, MARCH 07, 2005 9:01 AM
- PR Newswire




NTE
25.52 +1.19





Enter Symbol:



Enter Keyword:



VANCOUVER, British Columbia, March 7, 2005 /PRNewswire via COMTEX/ -- VANCOUVER, British Columbia, March 7 /PRNewswire-FirstCall/-- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NTE) announced that it has received a new customer order from a well-known Japanese multi-national company, to manufacture LCD panels for its electronic calculators, electronic dictionaries and electronic musical instruments.

"We are very glad that we have successfully won orders for LCD panels from such a big customer and added another name to our global customer list," said Mr. Joseph Li, Chief Executive Officer of Nam Tai. "As new applications are found for LCD products in various industries, we are confident that the LCD market will continue to grow. The huge growth in the LCD market, also propelled by the conversion to full colour displays, image capabilities and high resolution, has enabled Nam Tai to capture the vast opportunities for its Color Super Twisted Nematic ("CSTN") LCD business. On top of providing LCD panels, the addition of LCD modules capability will further strengthen our product portfolio in the LCD market, differentiating ourselves from other industry players through the provision of a one-stop solution to our customers."

About Nam Tai Electronics, Inc.

We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, flexible printed circuit sub-assemblies and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.

Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited ("NTEEP") and J.I.C. Technology Company Limited ("JIC"). Interested investors may go to the website of The Stock Exchange of Hong Kong at http://www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC in The Stock Exchange of Hong Kong are 2633 and 987, respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC, when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have a different peak season during a year.
 
dentro 25,58,,,,,,sulle orme di maestro :specchio: :bow: :bow:
 
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Beh, io mi sono fatto le Nam Tai...........
 
a 20..... ;)
 

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