Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>This is effectively a one product company (OEM speakers) and with one really big client (Apple), who has caused it problems this year and resulted in two downward revisions. These problems now seem to be behind the company and next year could see profits jump 3 times from this year’s depressed levels. Longer term the company is trying to focus more on its automobile business, where it is indeed strong. Given this, the fact that the shares are below book (0.8x), yield 2% and have been a dreadful…</p>

This is effectively a one product company (OEM speakers) and with one really big client (Apple), who has caused it problems this year and resulted in two downward revisions. These problems now seem to be behind the company and next year could see profits jump 3 times from this year’s depressed levels. Longer term the company is trying to focus more on its automobile business, where it is indeed strong. Given this, the fact that the shares are below book (0.8x), yield 2% and have been a dreadful…

Oversold on Apple Woes This Year, Next Year a Big Recovery and Shares Are Cheap.

Foster Electric

Oversold on Apple Woes This Year, Next Year a Big Recovery and Shares Are Cheap.