Value Microcaps Motherboard

[abh3vt]

Hweb, ANII had a big Q4 last year, with pretax margins north of 22%. They may have higher revenues this year and less fd shares due to buyback, but I think the eps comps won't be as great as some may be hoping for. I'm guessing that they will earn around 0.37 - 0.39 ft, ft for FY05

BTW, the Q3 numbers looked better than usual (esp for bottom line) because during Q3 04 management made a strategic decision to sell some of their newer products at cost to build awareness of them.

I think the stock is a still undervalued at present levels, but buying post Q4 earnings might be the way to go (unless it breaks down further from here).