Pace Plc Share Discussion Threads

[bashor] 03/8/2018 21:43

Off topic somewhat sorry, just wondered if anyone here thought commodities and in particular Cooper looked like a good medium term play from here

[bashor] 03/8/2018 15:19

Yes Alex and a nice bounce here today

[alexmcdonald] 03/8/2018 15:08

Bashor you seem to be ok!!! Just noticed 12% up for PETS!

[freddie01] 03/8/2018 10:36

Aqua dawn



Bern at Night, Switzerland



Storm Over Rapeseed Fields by Carlos Gotay



Twilight at St Kilda, Scotland



Fantasy by Liping_Photo





The ghost of the Brittany beach
by tenchinage

[bashor] 02/8/2018 22:18

Please talk me out of my thoughts of sticking more money in play here

[sikhthetech] 02/8/2018 21:58

Good Luck Amphiprion...
agree with your sentiments...

[amphiprion] 02/8/2018 21:42

Thanks guys. Yes, Pace always had a special allure for me which seemed to persist when it became a part of Arris, although I'm not so sure that it should have. There is something strangely perverse about having to see what's going on with it even after you're out....as I did do after close! A habbit I will need to learn to kick for self-preservation's sake!

And thank you all for making this the best board I think I have ever visited. I pay very little attention to most of them, but this one has always been in a league of it's own thanks to all your contributions!

All the best.

[waggle] 02/8/2018 18:35

well done for kicking the sado-masochistic habit that is "holding Arris" Amphhiprion, i hope that you will still look in occasionally?

[andyble] 02/8/2018 18:23

Good Luck Amphiprion, and have appreciated your comments and insights over all that time. I have to keep punishing myself partly because I am not so sure I would know what to do without this, and I have the belief that one day ... which eventually arrived before, though not too sure I would try that trick again after this one. Enjoy the relief and proceeds.

[bashor] 02/8/2018 18:15

Good luck, your right apart from some small glimpses of light it’s been a dark period, from $37 on the announcement of them buying Pace to here

[amphiprion] 02/8/2018 18:00

Well that's me out after many many years holding. Arris has been a disaster for me ever since the takeover - no doubt it will bounce straight back up now!
Good luck all!

[bashor] 02/8/2018 17:37

Could well be a buying opportunity, I can accept no dividend if they are going to aggressively repurchase shares

[andyble] 02/8/2018 17:23

Sure he is but nothing he said came through into the results, if anything the opposite. This is the market being the market and good to see the high volume. We all know what happens next. I am actually rather impressed with the report and it was only a slight miss for good reason but what do I know.

[waggle] 02/8/2018 16:41

and follow through...where is the bottom?? suspect that the GS analyst is feeling rather smug right now.

[bashor] 02/8/2018 14:59

Brutal opening

[freddie01] 02/8/2018 08:56

Workers at Field
by ITGphotography



The living Earth
by DanielHerr



Sun Bathing
by atulsinghbsb



Common merganser ducklings take their first trip outside their nest after Your Shot photographer Shan W. had waited for a week for them to emerge. Your Shot Producer David Y. Lee writes, “Shan, your patience was well rewarded with this photo. Fantastic job being ready when the opportunity presented itself. Great job observing this composition, anticipating the moment, and then capturing this frame. You were not lucky — you made your own luck by being ready. I find myself cheering these baby chicks on: Go, you got this!!! I love it.” Photograph by Shan W





Geirangerfjord in Spring, Norway | by @maxrivephotography

[andyble] 02/8/2018 08:12

The transcript makes for a very good read this time, with talk of upgrade cycles, meaningful international growth, and generally a good buzz including the body language in the questions. I include a few snippets below within the copyright limitation.

Note that Arris have said that there are no plans this year for acquisitions. They are effectively saying that the best value out there right now is not buying someone else but instead "aggressively" buying themselves because of the value in the share price. If you ever wanted to see a come and get me message with a 'we are not too busy too' rider then this is it. A buyer would even at a healthy premium achieve a meaningful earnings enhancement buying Arris for cash right now. Anyone who believes the other message that CPE may well achieve sales of $1B a qtr for a long time to come and generate all that cash will be doing the sliderule sums asap. I have sincere doubts that Arris will be a quoted company by this time next year and they have effectively put themselves in the shop window for the year end, and so they probably should at this price level and whilst advertising all that growth.

Snippets (more if I did not have to rush off to golf!) :-

Business with our international customers continue to be very strong, once again reaching a new record level and accounting for 42.4% of shipments in the quarter

the company has never been more profitable in its history on a trailing 12-month non-GAAP EBITDA basis

And you can watch for a new DOCSIS3.1 launch announcement from a major international customer over the next few weeks that leverages our full Network & Cloud portfolio, as well as CPE products

As expected, our sales [CPE] came in above $1 billion in the quarter but were slightly lower than our expectation as we managed the timing of supply and component availability

We're targeting sales at or above $1 billion [CPE] a quarter. And while I expect revenues will fluctuate quarter to quarter over the long term, this level of business is achievable

we view our stock as undervalued

MLCC ... most companies like us are in an environment where trying to secure supply is on a week-to-week basis and prices fluctuate pretty significantly. And so, what we've done is work pretty closely with customers around their supply needs, try and minimize the amount of premiums you're paying as much as possible, and ultimately on top of what we've gone through with memory, we're not in a position we can absorb those costs. And so, we've been pretty upfront and open with customers on what the price increases are, and obviously, seeing a lot of that implemented here in third quarter and kind of fully implemented by the fourth quarter at this point. So it's been a bit of a journey on that. And a difficult discussion with many customers, but it's a reality of the entire market at this stage and we'll stay close on the supply side and on the customer side to be as optimized as we can around the cost of production.

not anticipating M&A activity

I will say we've shipped quite a bit of DOCSIS3.1, so the idea that we're not shipping is kind of silly

[andyble] 01/8/2018 23:35

Presentation Slides look encouraging :-



"At current share price levels the company plans to be more aggressive purchasing shares in the second half of the year"

[bashor] 01/8/2018 21:57

Shakes head, I’ll stick with GNC for now whilst having a little go at PETS ahead of fridays update, one day Rodney

[amphiprion] 01/8/2018 17:00

Yes, fair point Bashor - they're a nightmare!

[bashor] 01/8/2018 12:07

Not sure I’d want to take over any French company, any old timers remember pace buying Xcom, shedding French staff is just about impossible

[amphiprion] 31/7/2018 21:30

Quite possible....although I guess it would all depend on the price. Maybe a low-ball offer (although that wouldn't necessarily help Aris's own valuation) would be worthwhile to erase the competition & gain further scale procurement-wise. I guess we'll find out sooner or later. I did notice a little caginess in the Q1 Q&A call regarding further share buybacks (then again I guess they would be cagy), but maybe they had in mind a little flutter instead...