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..business is improving but not as bullish as the hard disk space

We met the management of Ellipsiz last week just to check whether they were benefitting from the broad recovery in the tech space from the bullish comments of companies in the hard disk space and our own strong manufacturing data. Because they are about to release their results, we steered away from any specific business questions. Ellispiz like Miyoshi was seeing improvement and should be back in the black operationally this year. But the "semicon" space in which they are operating is still seeing strong price pressure so while volumes have picked up, margins have not returned to pre-crisis levels. This probably stems from lower utilisation rates and increased competition. I will wait for the detailed numbers before deciding what to do with the stock. Read more...