Kannst Du Dir mal bitte den Chart von GSLI ansehen? Deine Meinung wuerde mich interessieren. Ein wirklich gut aufgestelltes und interessantes Unternehmen und langfristig sicher ein Investment wert. Allerdings nach meiner Auffassung nicht mehr ganz so guenstig. Fundamental wuerde ich auf 50 zu 50 Chance tippen. Wobei nach meiner Erfahrung mit der Aktie, bei schlechtem Marktumfeld, ein Rueckschlagpotential bis auf 7$ nicht unwahrscheinlich ist.
Meinungen anderer "Arivaner" sind sehr willkommen.
GSI Lumonics entwickelt, produziert und vertreibt Laser-Systeme
und Komponenten für die Industrie weltweit.
Diese ermoeglichen eine weite Reihe von High-Tech Anwendungen,
wie in der Herstellung von Speicherchipmodulen, die Lotpasten-
und Bauteilinspektion bei der Leiterplattenbestueckung, das
Bohren von Leiterplatten mit Lasern oder der Widerstandsabgleich
und das Schwingkreistrimmen auf verschiedenen Materialien.
Darueber hinaus liefert das Unternehmen auch Praezisionsoptiken
für die Telekommunikationsindustrie, sowie Galvanometerscanner
und Laserquellen.
Interview mit CHARLES D. WINSTON, Praesident und Chief Executive Officer von GSI Lumonics Inc.
TWST: Could we start with a brief historical sketch and an overview of GSI Lumonics, Inc. (Nasdaq:GSLI)?
Mr. Winston:
Our company uses laser-based technology to develop capital equipment. These are tools used by major multinational corporations in the manufacturing of semiconductor chips as well as electronic circuits, printed circuit boards and electronic components. We are one of a few companies that provide this high-tech capital equipment for manufacturing.
TWST: What is your position within the competitive landscape?
Mr. Winston:
Depending on the particular application or market niche, we are either number one, two, or three. We generally have a market share that’s better than 20% and as high as 90% in some of our application spaces.
TWST: Do any of your competitors cover the same range that you do?
Mr. Winston:
No, we have no single competitor that covers the full range that we do. In fact, we see several competitors, some overlap in one space or several spaces, but no one competitor does the broad range that we do.
TWST: Could you give a long-term objective for the company?
Mr. Winston:
Our long-term objective is to grow better than 15% on the top line and better than that on the bottom line by improving our gross margins. Our gross margins at one point last year had gotten up to 42%. Our target is better than 45%. We had slipped back, mostly due to the lower sales volumes. There is a volume component to gross margin that has hurt us dramatically. Obviously, when your sales are less than half of what they were, you are going to see reduced gross margins. So we are in the lower 30% range now. We need to get that back up to 45%. So, as sales improve, the margins should improve even better. So our long term, over the next three to five years, is to maintain a better than 15% a year growth in revenue, and better than that, closer to 20% on the operating income pretax line.
TWST: Do you think the investment community understands your company as well as you would like it to?
Mr. Winston:
I don’t think so because we’re a small cap company. Small cap companies don’t get as much following and serious consideration as do the medium and large cap companies. When you hit a $1 billion in market cap or higher, I think you get more understanding. People are willing to spend the time studying it. I am hoping that in this down cycle people will reflect on the last two cycles and realize that the smaller cap companies outperform the larger ones in a recovery.
TWST: Could you give us the three or four best reasons why the serious long-term investor should be looking closely at GSI Lumonics?
Mr. Winston:
Again, I think it’s positioning us. There are not very many companies that do what we do. There are certainly no other companies that we know of that do everything that we do in terms of laser systems. People need to, I think, do a little bit of reading, may be an hour or two on some of the articles written on us by the analysts who follow us to understand what we do and how laser systems as a tool have become an absolute must. It’s an enabling tool for the manufacturing of certain semiconductor products, devices such as mixed signal devices, or analog to digital converters, that are very important in such commonplace items as airbag controllers for automobiles. A lot of the products people use today such as cell telephones, pagers, PCs, and automobile electronics use components manufactured in part by laser systems. Many of these items
This special conference issue includes:
1) Outlook for Semiconductors - Wireless Communications - In an in-depth (3,200 words) Analyst Interview, Paul Brandeis, Principal at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
2) Outlook for Storage Networking - In an in-depth (1,700 words) Analyst Interview, Glenn Hanus, Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
3) Networking Equipment & Semiconductors - In an in-depth (3,000 words) Analyst Interview, A.A. LaFountain III, Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
4) Semiconductors - In an in-depth (3,000 words) Analyst Interview, Daniel K. Scovel, Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
5) Wireless Communications - In an in-depth (2,800 words) Analyst Interview, Richard F. Valera, Analyst that covers companies in the wireless equipment and satellite industries at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
6) Outlook for PC Hardware & Handheld Devices - In an in-depth (2,800 words) Analyst Interview, Charles Wolf, Research Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
7) Semiconductor Capital Equipment - In an in-depth (2,000 words) Analyst Interview, Cristina Osmena, Vice President at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
8) Electronic Components, Component Capital Equipment & Display Technologies - In an in-depth (2,500 words) Analyst Interview, James Ricchuiti, Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
9) Semiconductor Capital Equipment Stocks - In an in-depth (2,000 words) Analyst Interview, Robert Stern, Principal at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
10) Education & e-Learning Application Software - In an in-depth (1,600 words) Analyst Interview, Dalton L. Chandler, Analyst that covers Internet and Internet-related companies, specifically in consumer- oriented Internet companies at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
11) Enterprise Software Companies - In an in-depth (2,900 words) Analyst Interview, Richard Davis, Jr., Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations
12) Outlook for Design Enabling Technologies - In an in-depth (2,200 words) Analyst Interview, Jeffrey K. Macy, Analyst that covers design enabling technologies at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
13) Contract Manufacturing Stocks - In an in-depth (2,800 words) Analyst Interview, John J. McManus, Analyst that covers all aspects of contract manufacturing at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
14) CEO interviews (average 2,500 words). Top management of ninety-five sector firms examine the outlook for their firm and the sector.
Meinungen anderer "Arivaner" sind sehr willkommen.
GSI Lumonics entwickelt, produziert und vertreibt Laser-Systeme
und Komponenten für die Industrie weltweit.
Diese ermoeglichen eine weite Reihe von High-Tech Anwendungen,
wie in der Herstellung von Speicherchipmodulen, die Lotpasten-
und Bauteilinspektion bei der Leiterplattenbestueckung, das
Bohren von Leiterplatten mit Lasern oder der Widerstandsabgleich
und das Schwingkreistrimmen auf verschiedenen Materialien.
Darueber hinaus liefert das Unternehmen auch Praezisionsoptiken
für die Telekommunikationsindustrie, sowie Galvanometerscanner
und Laserquellen.
Interview mit CHARLES D. WINSTON, Praesident und Chief Executive Officer von GSI Lumonics Inc.
TWST: Could we start with a brief historical sketch and an overview of GSI Lumonics, Inc. (Nasdaq:GSLI)?
Mr. Winston:
Our company uses laser-based technology to develop capital equipment. These are tools used by major multinational corporations in the manufacturing of semiconductor chips as well as electronic circuits, printed circuit boards and electronic components. We are one of a few companies that provide this high-tech capital equipment for manufacturing.
TWST: What is your position within the competitive landscape?
Mr. Winston:
Depending on the particular application or market niche, we are either number one, two, or three. We generally have a market share that’s better than 20% and as high as 90% in some of our application spaces.
TWST: Do any of your competitors cover the same range that you do?
Mr. Winston:
No, we have no single competitor that covers the full range that we do. In fact, we see several competitors, some overlap in one space or several spaces, but no one competitor does the broad range that we do.
TWST: Could you give a long-term objective for the company?
Mr. Winston:
Our long-term objective is to grow better than 15% on the top line and better than that on the bottom line by improving our gross margins. Our gross margins at one point last year had gotten up to 42%. Our target is better than 45%. We had slipped back, mostly due to the lower sales volumes. There is a volume component to gross margin that has hurt us dramatically. Obviously, when your sales are less than half of what they were, you are going to see reduced gross margins. So we are in the lower 30% range now. We need to get that back up to 45%. So, as sales improve, the margins should improve even better. So our long term, over the next three to five years, is to maintain a better than 15% a year growth in revenue, and better than that, closer to 20% on the operating income pretax line.
TWST: Do you think the investment community understands your company as well as you would like it to?
Mr. Winston:
I don’t think so because we’re a small cap company. Small cap companies don’t get as much following and serious consideration as do the medium and large cap companies. When you hit a $1 billion in market cap or higher, I think you get more understanding. People are willing to spend the time studying it. I am hoping that in this down cycle people will reflect on the last two cycles and realize that the smaller cap companies outperform the larger ones in a recovery.
TWST: Could you give us the three or four best reasons why the serious long-term investor should be looking closely at GSI Lumonics?
Mr. Winston:
Again, I think it’s positioning us. There are not very many companies that do what we do. There are certainly no other companies that we know of that do everything that we do in terms of laser systems. People need to, I think, do a little bit of reading, may be an hour or two on some of the articles written on us by the analysts who follow us to understand what we do and how laser systems as a tool have become an absolute must. It’s an enabling tool for the manufacturing of certain semiconductor products, devices such as mixed signal devices, or analog to digital converters, that are very important in such commonplace items as airbag controllers for automobiles. A lot of the products people use today such as cell telephones, pagers, PCs, and automobile electronics use components manufactured in part by laser systems. Many of these items
This special conference issue includes:
1) Outlook for Semiconductors - Wireless Communications - In an in-depth (3,200 words) Analyst Interview, Paul Brandeis, Principal at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
2) Outlook for Storage Networking - In an in-depth (1,700 words) Analyst Interview, Glenn Hanus, Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
3) Networking Equipment & Semiconductors - In an in-depth (3,000 words) Analyst Interview, A.A. LaFountain III, Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
4) Semiconductors - In an in-depth (3,000 words) Analyst Interview, Daniel K. Scovel, Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
5) Wireless Communications - In an in-depth (2,800 words) Analyst Interview, Richard F. Valera, Analyst that covers companies in the wireless equipment and satellite industries at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
6) Outlook for PC Hardware & Handheld Devices - In an in-depth (2,800 words) Analyst Interview, Charles Wolf, Research Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
7) Semiconductor Capital Equipment - In an in-depth (2,000 words) Analyst Interview, Cristina Osmena, Vice President at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
8) Electronic Components, Component Capital Equipment & Display Technologies - In an in-depth (2,500 words) Analyst Interview, James Ricchuiti, Analyst at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
9) Semiconductor Capital Equipment Stocks - In an in-depth (2,000 words) Analyst Interview, Robert Stern, Principal at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
10) Education & e-Learning Application Software - In an in-depth (1,600 words) Analyst Interview, Dalton L. Chandler, Analyst that covers Internet and Internet-related companies, specifically in consumer- oriented Internet companies at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
11) Enterprise Software Companies - In an in-depth (2,900 words) Analyst Interview, Richard Davis, Jr., Managing Director at Needham & Company, examines the outlook for the sector and shares specific stock recommendations
12) Outlook for Design Enabling Technologies - In an in-depth (2,200 words) Analyst Interview, Jeffrey K. Macy, Analyst that covers design enabling technologies at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
13) Contract Manufacturing Stocks - In an in-depth (2,800 words) Analyst Interview, John J. McManus, Analyst that covers all aspects of contract manufacturing at Needham & Company, examines the outlook for the sector and shares specific stock recommendations.
14) CEO interviews (average 2,500 words). Top management of ninety-five sector firms examine the outlook for their firm and the sector.
