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First Things First:

As of the week ending March 30, 2007, the RF to Light 100 dropped 1.1%, YTD and end of first quarter +2.8% at 2529. NASDAQ also down 1.1%, YTD +0.3% at 2422. I attended the OFC show in Anaheim: 13,000 attended (not a record). Market analysts forecasted moderate growth over the next few years, need for more industry consolidation in order to boost profit and to stand up against their largest customer, Cisco, which holds about 70% market share in network systems. 73% of the fiber optic companies in this index are rated excellent or good (A and B) in terms of financial strength. Average $ growth over 12 months was about 7.5%.  

In the News:

World stock markets retreated this week against a backdrop of rising oil prices and fresh uncertainty about the outlook for US growth, inflation and interest rate. The dollar fell sharply against the Euro amid signs of weakness of the US economy. New US home sales fell to their lowest level in seven years. Consumer confidence index dropped second week in a row.

PIS (personal investment system):

Within 5 year low : JOINED: Jabil

Within 2 year low : JOINED: Flextronics

Within 5 year high: JOINED: Spectrum Control. EXITED: Cisco

Within 2 year high: EXITED: EMS Techn., Ericsson, Anadigics

New Highs:

AVICI, NOC, T, WFR

New Lows:

BKHM, JBL, ROG

Market Oversold Indicator:

up to 79%

Market Overbought Indicator:

down to 60%

Top Five:

Last Week:

Spectrum Control (+15%), Avici (+15%), Vitesse (+13%), Finisar (+6%), Ciena (+5%)

Year to Date:

Memc (+55%), Avici (48%), Harmonic (35%), Amkor (34%), Anadigics (33%)

Bottom Five:

Last Week:

RF Microdevices (-12%), Anadigics (-8%), Harmonic (-5%), Maxim (-5%), Memc (-5%)

Year to Date:

Bookham (-44%), Rogers (-25%), Conexant (-19%), Skyworks (-19%), Avaya (-16%)

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For the week of April 2nd

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The RF to Light 100 is an abstract of the RF to Light 100 Pulse of the Industry Report, produced by industry veteran Gunter Vorlop.

The full report includes extensive economic data covering 100 public companies operating in markets that include space & defense, communications services, network systems, RF semiconductors, RF components and F/O components. It includes 12 spreadsheets with charts that are updated weekly, providing financial insight into the microwave industry for investors and corporate managers.

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DISCLAIMER:

Views and data expressed herein are solely those of Mr. Vorlop and not of his employer, Presidio Components Inc. nor those of Microwave Journal.

By Sectors:

Space & Defense:

-1%,YTD +4%

Communic. Services:

0%, YTD 0%

Network Systems :

-1%, YTD 0%

RF Semiconductors:

-3%, YTD +10%

RF Components:

0%, YTD +2%

F/O Components:

+2%, YTD 0%

Miscell.:

+1%, YTD 0%