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CSR - Eps forcast for next year rises to 40 cents

November 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CSR - E
  • Price:
  • 353p
Q3 results to end September mark the first since the Samsung deal closed in October. The planned return of US$285m to shareholders in the form of a tender offer is now timed to take place this quarter and even after this distribution it should leave CSR with a US$300m cash pile - or 116p a share. Turnover in Q3 was US$282.7m, above the top end of its guidance range, driven somewhat ironically by the legacy handset side of its operations and on a proforma basis was up 6% on the previous quarter and down 8% year-on-year. Operating profit was up 32% to $32.2m in Q3 but eps was $0.13. Following the Samsung transaction CSR is now organised into core and legacy business with sales of US$187m and US$95m. respectively. Legacy now i ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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