WGA 2012-02-27 Presentation YS

WGA 2012-02-27 Presentation YS - Logo Analyst: n...

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Unformatted text preview: Logo Analyst: n Wells-Gardner Electronics (WGA) n Yihong Shi 1 Investment Thesis Company Industry Valuation Summary Overview Source s: Overview n Companys 10-K and other SEC filings. 2 n Sector: Technology n Industry: Diversified Electronics n Wells-Gardner Electronics is a global distributor and manufacturer of liquid crystal displays (LCDs). Circuit designs Assembling electronic video boards Aligning, testing and integrating touch sensors Overview The Wells-Gardner 19" Shelf-Mount LCD Replacement Kit is designed to retrofit 19" CGA to VGA CRT display used in many Amusement games(Pac-Man, Galaga, Space Invaders, Joust) in addition to various class II line games. This LCD kit is pre-assembled and includes a power supply. WGF1979-SDSS39J Investment Thesis Company Industry Valuation Summary Overview Source s: Investment Theses Recommendation n Valuation Recommendation: HOLD Upside potential: new markets, economy recovery Three major customers accounts for more than 50% revenue and 34% receivables Limited number of suppliers for three major components Historical trading volume has been small. Larger than average buy or sell order will significantly affect its price----------- from company risk factors Liquidation model indicates this company worth more alive than dead, BUY and liquidate will not bring value 3 Investment Thesis Company Industry Valuation Summary Overview Source s: Industry n Market Watch & Company 10K Industry Gaming and Amusement video display n Association of Gaming Equipment Manufacturers (AGEM)...
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WGA 2012-02-27 Presentation YS - Logo Analyst: n...

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