FEI Company (FEIC, Financial) filed Annual Report for the period ended 2010-12-31.
Fei Company has a market cap of $1.24 billion; its shares were traded at around $32.4 with a P/E ratio of 27.5 and P/S ratio of 1.9. Hedge Fund Gurus that owns FEIC: Kenneth Fisher of Fisher Asset Management, LLC, Bruce Kovner of Caxton Associates. Mutual Fund and Other Gurus that owns FEIC: Westport Asset Management, Chuck Royce of Royce& Associates, PRIMECAP Management.
Net research and development expense was $66.3 million in 2010, $67.7 million in 2009 and $70.4 million in 2008.
Orders received in a particular period that cannot be built and shipped to the customer in that period represent backlog. We only recognize backlog for purchase commitments for which the terms of the sale have been agreed upon, including price, configuration, options and payment terms. Product backlog consists of all open orders meeting these criteria. Service and Components backlog consists of open orders for service, unearned revenue on service contracts and open orders for spare parts. U.S. government backlog is limited to contracted amounts. In addition, some of the U.S. government backlog represents uncommitted funds. At December 31, 2010, our total backlog was $471.9 million, compared to $354.6 million at December 31, 2009. At December 31, 2010, our backlog consisted of $390.6 million of products and $81.3 million related to Service and Components compared to product backlog of $286.6 million and Service and Components backlog of $68.0 million at December 31, 2009.
Customers may cancel or delay delivery on previously placed orders, although our standard terms and conditions include penalties for cancellations made close to the scheduled delivery date. As a result, the timing of the receipt of orders or the shipment of products could have a significant impact on our backlog at any date. Historically, cancellations have been low. However, in the last two years, this long-standing trend changed somewhat and, as a result, our cancellation rates may increase in the future. During 2010 and 2009, we experienced cancellations or de-bookings of $2.7 million and $12.4 million, respectively. From time to time, we have experienced difficulty in shipping our product from backlog due to single-sourcing issues and problems in securing electronic components from a certain vendor. In addition, product shipments have been extended due to delays in completing certain application development, by our customers pushing out shipments because their facilities are not ready to install our systems and by our own manufacturing delays due to the technical complexity of our products and supply chain issues. A significant portion of our backlog is denominated in currencies other than the U.S. dollar and, therefore, our reported backlog fluctuates, to an extent, as a result of foreign currency exchange rate movements. For these reasons, the amount of backlog at any date is not necessarily indicative of revenue to be recognized in future periods.
Read the The complete Report
Fei Company has a market cap of $1.24 billion; its shares were traded at around $32.4 with a P/E ratio of 27.5 and P/S ratio of 1.9. Hedge Fund Gurus that owns FEIC: Kenneth Fisher of Fisher Asset Management, LLC, Bruce Kovner of Caxton Associates. Mutual Fund and Other Gurus that owns FEIC: Westport Asset Management, Chuck Royce of Royce& Associates, PRIMECAP Management.
Highlight of Business Operations:
The aggregate market value of the voting and non-voting common equity held by non-affiliates, computed by reference to the last sales price ($18.93) as reported by The NASDAQ Global Stock Market, as of the last business day of the registrants most recently completed second fiscal quarter (July 4, 2010), was $719,410,533.Net research and development expense was $66.3 million in 2010, $67.7 million in 2009 and $70.4 million in 2008.
Orders received in a particular period that cannot be built and shipped to the customer in that period represent backlog. We only recognize backlog for purchase commitments for which the terms of the sale have been agreed upon, including price, configuration, options and payment terms. Product backlog consists of all open orders meeting these criteria. Service and Components backlog consists of open orders for service, unearned revenue on service contracts and open orders for spare parts. U.S. government backlog is limited to contracted amounts. In addition, some of the U.S. government backlog represents uncommitted funds. At December 31, 2010, our total backlog was $471.9 million, compared to $354.6 million at December 31, 2009. At December 31, 2010, our backlog consisted of $390.6 million of products and $81.3 million related to Service and Components compared to product backlog of $286.6 million and Service and Components backlog of $68.0 million at December 31, 2009.
Customers may cancel or delay delivery on previously placed orders, although our standard terms and conditions include penalties for cancellations made close to the scheduled delivery date. As a result, the timing of the receipt of orders or the shipment of products could have a significant impact on our backlog at any date. Historically, cancellations have been low. However, in the last two years, this long-standing trend changed somewhat and, as a result, our cancellation rates may increase in the future. During 2010 and 2009, we experienced cancellations or de-bookings of $2.7 million and $12.4 million, respectively. From time to time, we have experienced difficulty in shipping our product from backlog due to single-sourcing issues and problems in securing electronic components from a certain vendor. In addition, product shipments have been extended due to delays in completing certain application development, by our customers pushing out shipments because their facilities are not ready to install our systems and by our own manufacturing delays due to the technical complexity of our products and supply chain issues. A significant portion of our backlog is denominated in currencies other than the U.S. dollar and, therefore, our reported backlog fluctuates, to an extent, as a result of foreign currency exchange rate movements. For these reasons, the amount of backlog at any date is not necessarily indicative of revenue to be recognized in future periods.
Read the The complete Report
