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To: robert b furman who wrote (121)2/11/2010 3:04:43 PM
From: robert b furman
   of 137
 
Just added to Anaren @ 11.28.

This might be a buck over book,but I just can't see any stock with the earnings power - even if it declines a penny over the next 2 quarters as management wisely chases after higher margin products.

If custom products gets traction like they did in December it won't reduce anything and if they gain new projects with long build run times and hhigher margins,we'll have a nice growing book value that goes up 8% a year.

Now that's what I call a nice long term growth stock.

I'll accumulate more on price weakness,and be patient.

Full disclosure I'm long and long love the satellite sector - it just simply is the future of telecom.

IMO

Bob

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To: robert b furman who wrote (122)4/30/2010 12:31:03 PM
From: robert b furman
   of 137
 
Q3 earnings surprise to the upside.

investor.anaren.com

Continued emphasis on standard components vs custom componenets and space/defense getting into a production ramp is adding nicely to net profits.

They are making very strong money,buying back stock,growing cash and giving good forward guidance.

The somewhat reduced earnings guidance (based on headlines) is the result of nice growth but at higher tax rates 25.7% this quarter vs expected 32% next quarter.

After hours anen popped up over 16.00 and is now trading up approximately 1.00 on a down day(15.68)

This company will make a buck a share (Gaap)and could be fairly valued at 25.00 to 30.00 IMHO.

Bob

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To: robert b furman who wrote (123)12/1/2010 10:45:58 AM
From: robert b furman
   of 137
 
SPACE = The final frontier - and where a lot of money will be made !!

These guys just make money when design wins come in lots of millions:

finance.yahoo.com

Bob

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To: robert b furman who wrote (124)3/16/2011 1:03:04 PM
From: robert b furman
   of 137
 
During this Egypt ,Japan earhquake take your trama pick Anen has declined FOR 10 STRAIGHT DAYS.

VERY FEW STOCKS DO 10 DAY DOWN !!!

That has brought the 200 day sma into price range.

On the 11 th day Anen opened lower and then reversed - it now is on rsisting the sell of for a second day:

It is acting quite well.

screencast.com

Bob

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To: robert b furman who wrote (125)4/12/2011 8:20:07 AM
From: robert b furman
   of 137
 
Anaren's merger with AML has been terminated by Microsemi's superior offer of 2.50 per share vs Anen's offer of 2.15 per share.

Today MicroSemi anticipates closing the transaction bt the end of June.

Per Anen's original agreement , AML must pay Anen $600,000 as a termination fee and reimburse up to $200,000 in legal expenses.

Unusual that Anen's price has gone down.

Anen has not issued a declination statement.

Smsc passed on a merger "bump" and took in a termination fee - which caused a nice bump up in the stock price.

Time will tell how this gets settled out.

Bob

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To: robert b furman who wrote (126)4/15/2011 4:01:53 PM
From: robert b furman
   of 137
 
Filed with SEC:

files.shareholder.com

Anaren has recieved a $800,000 termination fee.

600,000 agreement and up to 200,000 for legal fees.

Should add 5.3 cents per share in Q2? as they received the money as of 04/15/10.

This happened to Micr Semi and they got a 2.00 pop upon earnings announcement.

Most people do not keep this close track on a company.

I like it when management works tight deals and doesn't take a bump.

Bob

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To: robert b furman who wrote (127)4/27/2011 6:02:12 PM
From: robert b furman
   of 137
 
Q3 earnings:
finance.yahoo.com

First glance a light miss by 5 cents per analysts.

Combination of increased R&D on an large irridium satellite contract and a military first phase satellite funded R&D.This contract just got approved lat week and they hired engineers Dec and January so cost went to R&D which dropped margins 340 basis points.

Sala said future R&D woulkd go down.

Wireless R&D is up for AIR radio which has potential to double sales but off in time 2012 due to software programing lags. Great business for future.

Xinger for 4ge surprising in orders - coming on much faster than anticipated.

Start up yields are low and will increase with continued experience and improved sales rates.

Space and Satellite growing modestly new hires =R&D peaked this quarter with wireless growing faster and yield improvement will continue as new faciltiy expansion has been completed at unicircuit.

next quarter the same as this and working on yields.

Q3 2011vs Q3,2010 had a 7 cents IRS gain as overtaxed payments were acknowledged.This brought down tax rates in 2010,so that was a one of vs 2011.

New product hiring and ramp for 4ge wireless drove margins down and R&D up.

Same level of business with lower Opex will give better bottom line.

600,000 was recieved and will be in next quarter's other income.Legal expense of 200,000 has been previously expensed in past quarter and will show as other income also.

If you note guidance gaap and non gaap are the same so the gain from AML merger termination will cover options expense and impairment write off.

Book value will grow about 1.70 this year and cash grew about 7 million with few stocks bought back.

only 453,000 authorized to be bought back and a 10,million debt payment must be coming in 2011 H2?

Good future and not aware of any cancelation if government austerity hits!!

Bob

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To: robert b furman who wrote (128)4/28/2011 11:07:23 AM
From: robert b furman
   of 137
 
Anaren down big at the open ,but on surprisingly low volume:

screencast.com

Can't help but think this is a loing term great opportunity.

They've landed two big satellite deals - Irridium for 6 years and 20 million and a military funding project worth 5 million - this sucks up R&D and goes to cost of good sold.

It was big enough that they prehired engineers.

The wireless is growing at a surprising rate as 4ge is now being expanded faster than thought - no surprise tablets and smartphone are swelling capacity.

The AIR radio I do not know about but if as stated could double wireless revenue that would be 30 million.

They have now built our a complete line of spectrum for N America and Europe with quotes of 10 million.Total wireless was 15 million.

They said R&D was high on AIR radio.

Looks to me like this company is being aimed at higher margin big growth tickets and if they stumble (like now) but the discount.

There are two long term trend lines both going up nicely:

screencast.com

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To: robert b furman who wrote (129)4/28/2011 11:30:51 AM
From: robert b furman
   of 137
 
OK ,

The story becomes clear a block of 25,000 shares at 16.05 on 76,000 shares for the moning.

Whens the last time you bought a 1/3 of the days trades and drove the price up a nickel - never.

This is a deal from an institution to buy 25,000 and we'll give you a 10-15 cents mark up.

It most often ends the decline.

As the cumulation is no longer availAble so close out the trade.

screencast.com

bOB

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To: robert b furman who wrote (130)4/28/2011 11:34:29 AM
From: robert b furman
   of 137
 
ANOTHER 25,00 BLOCK AT 16.05 !!

screencast.com

bOB

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