Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Small Cap / Semiconductors & Semiconductor Equipment

Electro Scientific Financials Announced

On January 26, 2012, Electro Scientific Industries, Inc. (ESI) (NASDAQ: ESIO) announced results for its fiscal 2012 third quarter ended December 31, 2011. Revenue in the third quarter was $49.8 million, compared to $81.9 million in the second quarter of 2012 and $67.2 million in the third quarter of last fiscal year. On a GAAP basis, net loss was $1.9 million or $0.07 per share, compared to income of $8.5 million or $0.29 per diluted share in the prior quarter. On a non-GAAP basis, third quarter net income was $0.5 million or $0.02 per diluted share, compared to $9.3 million or $0.32 per diluted share in the second quarter of fiscal 2012 and $5.9 million or $0.21 per diluted share in the third quarter of fiscal 2011. Orders for the third quarter were $45.4 million, compared to $40.6 million in the prior quarter and $77.9 million in the corresponding quarter last year. At quarter end, cash and investments including restricted cash grew to $227 million. Cash flow from operations was $1.4 million during the third quarter. Based on recent order levels, ESI expects revenues for the fourth quarter of fiscal 2012 to be in the mid-$40 million range. Fourth quarter non-GAAP loss per share is expected to be $0.05 to $0.10.

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Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."