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Author: schvitzing Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 656  
Subject: So, who dumped GNSS? Date: 5/3/2003 9:01 AM
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Genesis Microchip slumps despite beating Q1 view (2:50 PM ET) Genesis Microchip(GNSS)is losing almost 9 percent to $15.63 in late action. After Thursday's closing bell, the San Jose, Calif., display technology firm reported first-quarter pro forma earnings of $3.8 million, or 12 cents per share, a penny ahead of the average estimate of nine analysts polled by Thomson First Call. Revenue rose 19 percent in the latest three months to $54.8 million from $51.7 million in the same period a year earlier. Gross margin swelled to 43.2 percent in the quarter. Looking ahead, Genesis forecast revenue of between $55 million and $55.5 million in the second quarter with gross margins running from 39.5 percent to 41 percent. This revenue outlook is in line with Wall Street's consensus estimate for revenue of $55.3 million in the June period.
http://quote.fool.com/news/symbolnews.asp?guid={9F8E6A53-6585-481B-B97F-1822118ABBCC}&currticker=gnss&symbols=gnss&nx=&bx=


Is this an example of 'buy on the rumor, sell on the news'? GNSS is a leader in one of the most exciting areas of electronics. I now have two flat panels, both with GNSS innards (One is a Samsung monitor that we use as a kitchen TV--it has a built-in tuner and speakers). They are superb, and they only reinforce my belief that the CRT display is doomed.

GNSS's [de facto] acquisition of PXLW will only reinforce its leadership position, IMO. If GNSS can stay at the technological leading edge, manage its finances properly, and avoid accounting tricks, it should be a long-term winner, even given is current relatively high earnings multiple.

Schvitz [long GNSS]

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