tonyong76, is price now mch more attractive? down by 50% from 40 cents in Nov 07.

in the meantime the results continue to be impressive because of leadership of steven and gilbert.
worth taking a long close look at the chart taken from NextInsight forum.

Q2 is usually Armstrong's weakest quarter because it is the seasonal trough for most of the industries it serves, especially HDD where Seagate’s loss of market share to WD has mitigated gains with WD. Furthermore, this year Armstrong also has to contend with negative currency translation in Thailand (e.g. weaker THB and USD versus S$), costlier raw materials (impacting OA and CE) and start-up costs (in Vietnam and Thailand where it has newly set-up plants). As such, we do not expect to see much YoY growth in Q208.

But we are optimistic that Armstrong will see a stronger 2H, as seasonal demand for the HDD segment and new programs in automotive and CE start to kick in. Armstrong has secured a number of new automotive programs for China that will contribute in H2 of the year. We also understand that it is working to secure a new Japanese customer that could significantly spur its consumer electronic business. Once clinched, ramp-up could start in 4Q.

Armstrong’s China-based automotive business remains robust, offsetting weakness in Thailand operations with the Japanese first-tier OEMs. In 2H, Armstrong will start to supply in high volume to Peugeot, Citroen and VW (Jetta model), along with Ssangyong and Ruwei (in smaller volumes). Production for new customer Valeo (insulation parts) is also expected to commence in 3Q. Lastly, it will start to supply VW and Audi with foam battery cover parts and cushioning parts in 2H.

In addition, Armstrong is negotiating with a Japanese customer for three new CE projects in China. We understand that these are high-volume projects with the potential to add revenue of more than $3m a month, as the customer is a supplier of key components to large, well-known international brands. Margins are also attractive because Armstrong will be supplying high value-added non-rubber or foam parts.

To account for the above-mentioned factors, we are reducing our 2008 forecast by 9% to $22.2m, which still represents relatively robust 26% YoY growth. As we are pegging Armstrong at 12x FY08 earnings, our price target is correspondingly adjusted to $0.53 from $0.58. However, we continue to like Armstrong for its relatively consistent execution and decent yield of 5%.

increased by 10.5% and 63.1% respectively compared to the corresponding period a year agoNote A: Net operating profit attributable to shareholders is before deducting the one timeThe net profit attributable to shareholders for the 3Q2007

The earning of 3mth had dropped.10.5% 

Armstrong?s operating profit attributable to shareholders grows 107% to $6.1 million for 3Q2007

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  Sales for the Sept?07 quarter rose 41% yoy to

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   More importantly, for the Dec?07 quarter, management

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  2 weeks ago, Armstrong?s largest customer

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  We expect the above to continue to bode well for