Replies to post #282599 on Zeev's Turnips Patch-No Politics (ZEEV)

[limtex]

If you look at today you might think the economy had fallen over a cliff.

All the talk is of earnings warnings and missing and increassing inventories.

Is that an accurate picture of the economy? Are we in an incipient recession?

If so then the next jobs report on Sept 3rd is likely to show a net loss of jobs.

The market is having a re-run of 2000/2001. Maybe it knows something that industry doesn't know?

I happen to believe the economy is not in incipient recession. If it were it would be the quickest onset of recession since who knows when.

L

L

[Public Heel]

CNBC is talking about short-selling again. Not exactly recommending it, and it's not Maria, but, still, this may indicate we're nearing a major bottom...

[AKvetch]

HAUP Fiscal Results

Press Release Source: Hauppauge Digital, Inc.


Hauppauge Digital Reports Fiscal 2004 Third Quarter and Nine Month Financial Results
Wednesday August 11, 12:58 pm ET
Net sales increase of approximately 38% and 24% for the quarter and nine month period over the prior fiscal year


HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Aug. 11, 2004-- Hauppauge Digital, Inc. (NASDAQ: HAUP - News), a leading developer of digital video TV and data broadcast receiver products for personal computers, today reported financial results for the fiscal third quarter and nine month period ended June 30, 2004.
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THIRD QUARTER RESULTS

Net sales were $13.8 million for the third quarter compared to $10.0 million for the previous year's third quarter, an increase of approximately 38%. Increases in sales of our personal video recorder products in addition to the sales increase of retail TV tuners for laptop computers coupled with the increase in the Euro exchange rate were the primary forces responsible for the sales increase.

Gross profit percentage increased to 25.79% for the third quarter, compared with a gross profit percentage of 22.52% for the previous year's third quarter. Product cost reductions, a favorable sales mix of higher gross margin products and the increase in the Euro exchange rate were mainly responsible for the increases.

Selling, General and Administrative costs increased by $289,887. The strengthening of the value of the Euro to the U.S. dollar was responsible for $69,628 of the increase, while increases in sales related promotional expenses and marketing programs plus higher costs attributable to professional services contributed to the remaining increase in SGA expenses. Spending for research and development increased $24,759, mainly due to the addition of research and development personnel.

Net income for the third fiscal quarter increased to $168,637 as compared to a net loss of $855,465 for the third quarter ended June 30, 2003. Net income per share was $0.02 on a basic and diluted basis compared to net a loss per share of $0.10 on a basic and diluted basis for the prior year's third quarter.

NINE MONTH RESULTS

Net sales were $48.8 million for the nine month period ended June 30, 2004 compared to $39.4 million for the previous year, an increase of approximately 24%. Increases in the sales of our personal video recorder products, European digital TV receiver products, TV tuners for laptop computers, the introduction of the MediaMVP plus the increase in the Euro exchange rate were primary forces responsible for the sales increases.

Gross profit percentage increased to 26.77% for the nine month period, compared with a gross profit percentage of 24.19% for the previous year. Product cost reductions, a favorable sales mix of higher gross margin products and the increase in the Euro exchange rate were mainly responsible for the increases.

Selling, General and Administrative costs increased by $1,203,498. The strengthening of the value of the Euro to the U.S. dollar was responsible for $471,462 of the increase, while increases in sales related promotional expenses and marketing programs plus increased legal costs and fees attributable to professional services contributed to the remaining increase in SGA expenses. Spending for research and development decreased $61,901, mainly due to lower contracted third party software development costs and lower compensation costs.

Net income for the nine month period increased to $1,705,887 compared to $61,522 for the same period in the prior year. Basic net income per share was $0.19 and diluted net income per share was $0.18, compared to net income per share of $0.01 on a basic and diluted basis for the prior year. The nine month results include $633,250 in arbitration and litigation charges, which reduced net income by $0.07 per share on a diluted basis.

DISCUSSION OF RESULTS

Ken Plotkin, Hauppauge's Chief Executive Offices stated "Although we began to see signs of our seasonal slowdown towards the end of our third quarter, the combination of sales growth in our target product lines, higher margin sales mix, manufacturing unit cost reductions and a favorable Euro to US dollar exchange rate helped spur the sales and profit increase over the third fiscal quarter of last year. Also, during the quarter we ramped up our research and development resources, establishing a new research and development facility off-shore, and we are forging ahead with new and updated product lines that we plan to introduce during latter part of our fourth quarter and the first fiscal quarter of 2005."

ABOUT HAUPPAUGE DIGITAL

Hauppauge Digital, Inc. is a leading developer of analog and digital TV receiver products for the personal computer market. Through its Hauppauge Computer Works, Inc. and Hauppauge Digital Europe Sarl subsidiaries, the Company designs and develops analog and digital TV receivers that allow PC users to watch television on their PC screen in a resizable window and enable the recording of TV shows to a hard disk, digital video editing, video conferencing, receiving of digital TV transmissions, and the display of digital media stored on a computer to a TV set via a home network. The Company is headquartered in Hauppauge, New York, with administrative offices in New York, Luxembourg, Singapore, Ireland and Taiwan and sales offices in Germany, London, Paris, The Netherlands, Sweden, Italy, Spain, Singapore, Taiwan and California. The Company's Internet web site can be found at http://www.hauppauge.com.

Certain statements in this Release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, those described in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on form 10-K for the fiscal year ended September 30, 2003.

[Tables Snipped] go to: http://biz.yahoo.com/bw/040811/115573_1.html

[head]

Zeev no matter how you slice it this market is f^cked completely up. There is nothing other than gamblers that will pick this market up. One day they argue oil problem, one day they argue inflation one day that argue interest rates, one day the argue numbers to good, one day unemployment nubers bad, on and on. Then like shmucks joe public has the low intelligence to listen the anaalyis who are no better at forecasting than you local weather forecaster. I for one am about ready to say F^ck this stuff for about 2 years like ole unclewest did a few tears back. Pissed as you can tell.

[michael03332002]

ZEEV, will any nervousness about INTC affect the market in terms of closing UP from here?

I would think that maybe given everything that has happened last few days to many quick to bale to let this go up that much

never know, but man oh man would that be great to close that high today

M