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ANEN - (recommended
to subscribers
on 5/16/05)
BOUGHT
at $10.23 SOLD
at $16.36
On April 28th 2005 Anaren Incorporated, a
provider of microwave signal distribution networks and components for
the wireless & satellite communications, and space & defense
electronics markets, reported fiscal 2005 3rd quarter revenue of $21.8
million. This compares to reported revenue of $22.4 million in the year
earlier period. Net income was $1.9 million or 9 cents per share which
compares to net income of 10 cents per share a year earlier.
In fiscal 2004 64%
of revenue was derived from the wireless sector while space &
defense accounted for 34% of total revenue.
Wireless customers include Motorola, Nortel
Networks, Nokia, Samsung and Lucent among others. A few of the
company's space & defense customers include Lockheed Martin,
Raytheon, and Northrop Grumman.
Anaren expects fiscal 4th quarter revenue to
be between $20 and $22 million. Earnings per share is expected to be
between 8 and 10 cents. Current consensus estimates call for 33
cents per share for fiscal 2005 which ends in June 2005. Consensus
estimates call for earnings per share of 43 cents for fiscal 2006 which
begins in July 2005.
On May 12th 2005 Anaren announced that it
increased it's stock buy back plan by an additional 2 million shares.
This is
on top of the 858,464 shares remaining on it's previous buyback plan.
Prior to this announcement Anaren had already purchased 2 million
shares in the previous 9 months which demonstrates that the company
actually buys back shares. Currently Anaren has 2.8 million shares
still authorized to be purchased going forward. This is a large buy
back authorization since 2.8 million shares
equals 15% of total shares outstanding and 17% of the float.
Anaren has cash and investments worth $96
million or $5.14 per share. Book value is $7.64 per share and the
company carries no debt. At the current price the stock has a
price-to-sales ratio of 2 and a price-to-book ratio of just 1.3.
1/17/06 - SOLD AT $16.36 FOR
A GAIN OF 60%. DURING THE SAME TIME
PERIOD THE NASDAQ WAS
UP 16%.
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