A new buy for aggressive investors

Article Excerpt

VERIGY LTD. $18 (Nasdaq symbol VRGY; Aggressive Growth Portfolio, Manufacturing & Industry sector; WSSF Rating: Speculative) makes automated equipment that tests the performance of computer chips. This equipment helps Intel Corp., Freescale Semiconductor Inc. and other chipmakers speed up production, and cut costs. Chip testing gear accounts for 75% of Verigy’s revenue. The remaining 25% comes from maintenance and other services. Verigy has its headquarters in Singapore, since customers in Asia account for nearly two-thirds of its revenue. It aims to focus on designing equipment, and is in the process of contracting out most of its manufacturing operations. The company was a wholly owned subsidiary of Agilent Technologies Inc. until June 2006 when Agilent sold 15% of its Verigy stock to the public at $15.00 a share. In October, Agilent handed out its remaining Verigy shares to its own stockholders. In the fiscal year ended October 31, 2006, Verigy broke even compared to a loss of $2.38 a share (total $119 million) a..

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