Category: UMS

Sell @ $0.605

That's my last lots… after close to 3 years, it's finally hitting >60ct again… too bad I'd given up hope and sold too early and too fast (on hindsight)… But, my Cash Flow is now very healthy and hopefully, I'll be using it wisely… 😀

Sell @ $0.59

Continue to reduce with every bid increase… One last batch left… 😀

Sell @ $0.585

Good jump today from $0.57… Could be mkt expecting Blackout Period to have started ie Andy-free… Last year results were on 8-May… When the cat is not around, the rats are out to play?

Sell @ $0.57

Another bid up, sell some more… 😀

Sell @ $0.565

Managed to clear yesteday's leftovers after queueing the whole day… Buyer was buying in bursts of 10,000+ in between very long intervals… Looks like I may run out of UMS soon if it keeps going up… 😀

Sell @ $0.565

Partially done… a bit too slow to put in my order when I saw $0.565 / $0.57… Prices had been slowly creeping up, thanks to "Andy-free" days… Latest BB = 1.05 for Feb-16, but both "B"s are lower compared to Jan-16… But, may be a seasonal thing as the same happened for '15… Anyway, continue to sell at higher prices.. 😀

Sell @ $0.555

Happily continue to sell at 0.5ct higher each time… and making tons of losses based on cost… 😀

Sell @ $0.55

Happily selling at huge losses based on historical cost… but, after 2 years of good dividend yield, should be slightly above BE… What a waste of time and money… 😀

Sell @ $0.55, $0.545

Got greedy (waiting for higher prices) in AM and didn't manage to sell at $0.56 nor $0.555… By the time I Q'd @ $0.55, the demand wasn't there… End up partially done and I quickly put in more to sell to Buyers @ $0.545 during 5pm matching.

The fear is Andy's Annual Ritual to sell for 2-3 days after FY results… This year, he's running late… MIA so far… 😀

Sell @ $0.54, $0.545, $0.55, $0.555

Q415 Results were out last night,

• Q415 Revenue ($21.88Mil) Slightly Lower YoY (Q414 = $22.05Mil), Much Lower QoQ (Q315 = $30.7Mil)
• BUT, Q415 EPS = 2.32ct Much Higher Yoy (Q414 = 0.86ct), Also Higher QoQ (Q315 = 1.99ct)
  • Although mgmt highlighted Better Profitabilty & Lower Expenses as the Main Reasons, the Bulk is Coming from "Changes in Inventories"
  • Looks like Income Smoothing / Financial Engineering to Me!
• FY15 EPS = 7.99ct vs 6.94ct (My Projection) ; FCF = 7.29ct vs 6.93ct (My Projection)
  • Div = 3ct Maintained (+1ct was Highly Possible but Not Given)
• 1H16 Guidance to be Weak but 2H16 to be Strong

Despite an excellent set of results being announced plus UMS continue to have Strong Profitability, FCF Generation and Strong Balance Sheet, I have stuck to my decision to pare down my holdings… My original target was 52.5ct but I'm adjusting it upwards during this period of cd.

At $0.555 (today's close),

• PE = 6.95
• Yield = 10.81%
• Cash = 9.07ct / Share
• Debts = ZERO
• FCF = 7.29ct / EPS = 7.99ct> Div 6ct

What's there not to like about UMS??

• 1H16 is Expected to be Weak
• Andy (CEO) has a history of selling down
• Reliant on one customer (AMAT), altho' they bought into a small Malaysian co. last year (Target Aerospace Customers)
• AMAT Contract Expiring in 2017

Lastly, I'm low on Free Cash, High on UMS and I'd like to Average Down some of my other beaten down stocks… 😀