Intrinsic value of O2Micro International ADR - OIIM

Previous Close

$1.88

  Intrinsic Value

$0.76

stock screener

  Rating & Target

str. sell

-59%

  Value-price divergence*

-62%

Previous close

$1.88

 
Intrinsic value

$0.76

 
Up/down potential

-59%

 
Rating

str. sell

 
Value-price divergence*

-62%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of OIIM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.64
  15.40
  14.36
  13.42
  12.58
  11.82
  11.14
  10.53
  9.97
  9.48
  9.03
  8.63
  8.26
  7.94
  7.64
  7.38
  7.14
  6.93
  6.73
  6.56
  6.40
  6.26
  6.14
  6.02
  5.92
  5.83
  5.75
  5.67
  5.60
  5.54
  5.49
Revenue, $m
  57
  66
  75
  85
  96
  107
  119
  132
  145
  159
  173
  188
  204
  220
  237
  254
  272
  291
  311
  331
  352
  374
  397
  421
  446
  472
  499
  528
  557
  588
  621
Variable operating expenses, $m
 
  89
  102
  115
  130
  145
  161
  178
  196
  215
  234
  254
  275
  297
  320
  343
  368
  393
  420
  447
  476
  506
  537
  569
  603
  638
  675
  713
  753
  795
  838
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  62
  89
  102
  115
  130
  145
  161
  178
  196
  215
  234
  254
  275
  297
  320
  343
  368
  393
  420
  447
  476
  506
  537
  569
  603
  638
  675
  713
  753
  795
  838
Operating income, $m
  -6
  -23
  -26
  -30
  -34
  -38
  -42
  -46
  -51
  -56
  -61
  -66
  -71
  -77
  -83
  -89
  -96
  -102
  -109
  -116
  -124
  -131
  -139
  -148
  -157
  -166
  -175
  -185
  -196
  -206
  -218
EBITDA, $m
  -4
  -23
  -26
  -30
  -34
  -38
  -42
  -46
  -51
  -56
  -61
  -66
  -71
  -77
  -83
  -89
  -96
  -102
  -109
  -116
  -124
  -131
  -139
  -148
  -157
  -166
  -175
  -185
  -196
  -206
  -218
Interest expense (income), $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
Earnings before tax, $m
  -2
  -23
  -26
  -30
  -34
  -38
  -42
  -47
  -51
  -56
  -61
  -66
  -72
  -78
  -84
  -90
  -96
  -103
  -110
  -117
  -125
  -133
  -141
  -149
  -158
  -167
  -177
  -187
  -197
  -208
  -220
Tax expense, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -3
  -23
  -26
  -30
  -34
  -38
  -42
  -47
  -51
  -56
  -61
  -66
  -72
  -78
  -84
  -90
  -96
  -103
  -110
  -117
  -125
  -133
  -141
  -149
  -158
  -167
  -177
  -187
  -197
  -208
  -220

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  53
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  91
  44
  50
  57
  64
  72
  80
  88
  97
  106
  115
  125
  136
  147
  158
  169
  182
  194
  207
  221
  235
  250
  265
  281
  298
  315
  333
  352
  372
  392
  414
Adjusted assets (=assets-cash), $m
  38
  44
  50
  57
  64
  72
  80
  88
  97
  106
  115
  125
  136
  147
  158
  169
  182
  194
  207
  221
  235
  250
  265
  281
  298
  315
  333
  352
  372
  392
  414
Revenue / Adjusted assets
  1.500
  1.500
  1.500
  1.491
  1.500
  1.486
  1.488
  1.500
  1.495
  1.500
  1.504
  1.504
  1.500
  1.497
  1.500
  1.503
  1.495
  1.500
  1.502
  1.498
  1.498
  1.496
  1.498
  1.498
  1.497
  1.498
  1.498
  1.500
  1.497
  1.500
  1.500
Average production assets, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Working capital, $m
  61
  14
  16
  18
  20
  23
  25
  28
  31
  34
  37
  40
  43
  46
  50
  54
  57
  61
  66
  70
  74
  79
  84
  89
  94
  100
  105
  111
  118
  124
  131
Total debt, $m
  4
  1
  2
  3
  4
  5
  7
  8
  9
  11
  12
  14
  15
  17
  19
  21
  23
  25
  27
  29
  31
  33
  36
  38
  41
  44
  47
  50
  53
  56
  59
Total liabilities, $m
  10
  7
  8
  9
  10
  11
  13
  14
  15
  17
  18
  20
  21
  23
  25
  27
  29
  31
  33
  35
  37
  39
  42
  44
  47
  50
  53
  56
  59
  62
  65
Total equity, $m
  81
  37
  42
  48
  54
  60
  67
  74
  81
  89
  97
  106
  114
  123
  133
  143
  153
  163
  174
  186
  198
  210
  223
  237
  251
  265
  280
  296
  313
  330
  348
Total liabilities and equity, $m
  91
  44
  50
  57
  64
  71
  80
  88
  96
  106
  115
  126
  135
  146
  158
  170
  182
  194
  207
  221
  235
  249
  265
  281
  298
  315
  333
  352
  372
  392
  413
Debt-to-equity ratio
  0.049
  0.030
  0.050
  0.060
  0.080
  0.090
  0.100
  0.110
  0.110
  0.120
  0.130
  0.130
  0.140
  0.140
  0.140
  0.150
  0.150
  0.150
  0.150
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
Adjusted equity ratio
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842
  0.842

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -3
  -23
  -26
  -30
  -34
  -38
  -42
  -47
  -51
  -56
  -61
  -66
  -72
  -78
  -84
  -90
  -96
  -103
  -110
  -117
  -125
  -133
  -141
  -149
  -158
  -167
  -177
  -187
  -197
  -208
  -220
Depreciation, amort., depletion, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  -14
  -23
  -26
  -30
  -34
  -38
  -42
  -47
  -51
  -56
  -61
  -66
  -72
  -78
  -84
  -90
  -96
  -103
  -110
  -117
  -125
  -133
  -141
  -149
  -158
  -167
  -177
  -187
  -197
  -208
  -220
Change in working capital, $m
  -6
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  7
  7
Cash from operations, $m
  -8
  -25
  -28
  -32
  -36
  -40
  -45
  -49
  -54
  -59
  -64
  -70
  -75
  -81
  -87
  -94
  -100
  -107
  -114
  -121
  -129
  -137
  -146
  -154
  -163
  -173
  -183
  -193
  -204
  -215
  -227
Maintenance CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
New CAPEX, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from investing activities, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Free cash flow, $m
  -9
  -25
  -28
  -32
  -36
  -40
  -45
  -49
  -54
  -59
  -64
  -70
  -75
  -81
  -87
  -94
  -100
  -107
  -114
  -121
  -129
  -137
  -146
  -154
  -163
  -173
  -183
  -193
  -204
  -215
  -227
Issuance/(repayment) of debt, $m
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
Issuance/(repurchase) of shares, $m
  -1
  28
  32
  36
  40
  44
  49
  54
  59
  64
  69
  75
  81
  87
  93
  100
  106
  114
  121
  129
  137
  145
  154
  163
  172
  182
  192
  203
  214
  226
  238
Cash from financing (excl. dividends), $m  
  -1
  29
  33
  37
  41
  45
  50
  55
  60
  65
  71
  77
  83
  89
  95
  102
  108
  116
  123
  131
  139
  147
  156
  166
  175
  185
  195
  206
  217
  229
  241
Total cash flow (excl. dividends), $m
  -10
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
Retained Cash Flow (-), $m
  2
  -28
  -32
  -36
  -40
  -44
  -49
  -54
  -59
  -64
  -69
  -75
  -81
  -87
  -93
  -100
  -106
  -114
  -121
  -129
  -137
  -145
  -154
  -163
  -172
  -182
  -192
  -203
  -214
  -226
  -238
Prev. year cash balance distribution, $m
 
  49
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  25
  -27
  -31
  -35
  -39
  -43
  -48
  -53
  -58
  -63
  -68
  -74
  -79
  -85
  -92
  -98
  -105
  -112
  -119
  -127
  -135
  -143
  -152
  -161
  -170
  -180
  -190
  -200
  -212
  -223
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  24
  -25
  -27
  -29
  -30
  -31
  -32
  -33
  -33
  -33
  -32
  -31
  -30
  -29
  -27
  -25
  -23
  -21
  -18
  -16
  -14
  -12
  -10
  -8
  -7
  -5
  -4
  -3
  -2
  -2
Current shareholders' claim on cash, %
  100
  44.4
  19.9
  9.0
  4.1
  1.9
  0.9
  0.4
  0.2
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

O2Micro International Limited designs, develops and markets power management components for the Computer, Consumer, Industrial, Automotive and Communications markets. The Company's power management products include integrated circuits (ICs) for liquid crystal display (LCD) and light emitting diode (LED) lighting; control and monitoring of battery charging and discharging; direct current (DC)/DC and alternating current (AC)/DC conversion, and provide select and switch functionality between power sources. It offers a range of products, including desktop and notebook monitors, portable media players, digital cameras, battery management systems for power tools, electric bikes, low emission vehicles (LEV) applications, industrial personal computers (PCs), portable media devices, smart phones, personal digital assistants (PDAs), global positioning system (GPS) units for navigational assistance in vehicles and electric and hybrid vehicle (EV/HEV) battery management.

FINANCIAL RATIOS  of  O2Micro International ADR (OIIM)

Valuation Ratios
P/E Ratio -801.6
Price to Sales 42.2
Price to Book 29.7
Price to Tangible Book
Price to Cash Flow -300.6
Price to Free Cash Flow -267.2
Growth Rates
Sales Growth Rate 3.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 13
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 4.9%
Interest Coverage 0
Management Effectiveness
Return On Assets -3.2%
Ret/ On Assets - 3 Yr. Avg. -11.6%
Return On Total Capital -3.5%
Ret/ On T. Cap. - 3 Yr. Avg. -12.5%
Return On Equity -3.7%
Return On Equity - 3 Yr. Avg. -12.9%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 50.9%
Gross Margin - 3 Yr. Avg. 51.1%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. -13.7%
Operating Margin -8.8%
Oper. Margin - 3 Yr. Avg. -22.8%
Pre-Tax Margin -3.5%
Pre-Tax Margin - 3 Yr. Avg. -18.2%
Net Profit Margin -5.3%
Net Profit Margin - 3 Yr. Avg. -22.3%
Effective Tax Rate -50%
Eff/ Tax Rate - 3 Yr. Avg. -29.5%
Payout Ratio 0%

OIIM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OIIM stock intrinsic value calculation we used $57 million for the last fiscal year's total revenue generated by O2Micro International ADR. The default revenue input number comes from 2016 income statement of O2Micro International ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our OIIM stock valuation model: a) initial revenue growth rate of 15.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for OIIM is calculated based on our internal credit rating of O2Micro International ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of O2Micro International ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of OIIM stock the variable cost ratio is equal to 135.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for OIIM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for O2Micro International ADR.

Corporate tax rate of 27% is the nominal tax rate for O2Micro International ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the OIIM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for OIIM are equal to 0%.

Life of production assets of 0 years is the average useful life of capital assets used in O2Micro International ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for OIIM is equal to 21.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $81 million for O2Micro International ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 26.595 million for O2Micro International ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of O2Micro International ADR at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ O2Micro to Announce Third Quarter 2017 Results   [Oct-11-17 09:00AM  GlobeNewswire]
▶ O2Micro Reports Second Quarter 2017 Financial Results   [Aug-03-17 08:00AM  GlobeNewswire]
▶ O2Micro to Announce Second Quarter 2017 Results   [Jul-14-17 09:00AM  GlobeNewswire]
▶ O2Micro┬« Announces FREE DIMMING License Agreement   [Jun-15-17 09:00AM  GlobeNewswire]
▶ O2Micro (OIIM) Reports High End of Expected Q1 Revenue Range   [May-10-17 04:40PM  Zacks Small Cap Research]
▶ O2Micro to Announce First Quarter 2017 Results   [Apr-13-17 06:00AM  GlobeNewswire]
▶ O2Micro (OIIM) Reports High End of Expected Q4 Revenue Range   [Jan-26-17 04:00PM  Zacks Small Cap Research]
▶ O2Micro to Announce Fourth Quarter 2016 Results   [Jan-10-17 09:00AM  GlobeNewswire]
▶ O2Micro to Announce Third Quarter 2016 Results   [Oct-06-16 04:15PM  GlobeNewswire]
▶ OIIM: After a Two and a Half Year Hiatus, Growth Should Resume Next Quarter   [Aug-04-16 11:00AM  Zacks Small Cap Research]
▶ O2Micro Reports Second Quarter 2016 Financial Results   [Aug-03-16 08:00AM  GlobeNewswire]
▶ O2Micro to Announce Second Quarter 2016 Results   [Jul-11-16 09:00AM  GlobeNewswire]
▶ O2MICRO INTERNATIONAL LTD Financials   [01:04PM  EDGAR Online Financials]
▶ O2Micro to Announce First Quarter 2016 Results   [Apr-07-16 09:00AM  GlobeNewswire]
▶ O2Micro to Announce Fourth Quarter 2015 Results   [Jan-06-16 09:00AM  GlobeNewswire]
▶ O2Micro Announces Expense Reduction Plan   [Nov-23  09:00AM  GlobeNewswire]
▶ O2Micro Recognized Among 2015 Top Bay Area Innovators   [Nov-19  09:00AM  GlobeNewswire]
▶ O2Micro to Announce Third Quarter 2015 Results   [Oct-07  08:30AM  GlobeNewswire]
▶ O2Micro's Charge Pump System Issued Patent   [Sep-22  08:30AM  GlobeNewswire]
▶ O2Micro to Announce Second Quarter 2015 Results   [Jul-07  08:30AM  GlobeNewswire]
▶ O2Micro to Announce First Quarter 2015 Results   [Apr-01  09:10AM  at noodls]
▶ O2Micro to Announce Fourth Quarter 2014 Results   [Jan-12  08:46AM  at noodls]
▶ O2Micro Announces Workforce Reduction   [Jan-05  08:35AM  at noodls]
▶ O2Micro Announces Workforce Reduction   [08:30AM  GlobeNewswire]
▶ O2Micro Reports Second Quarter 2014 Financial Results   [Jul-23  08:00AM  GlobeNewswire]
▶ O2Micro: The Turnaround Continues With Exciting New Products   [May-01  04:13PM  at Seeking Alpha]
▶ O2Micro Reports First Quarter 2014 Financial Results   [Apr-30  08:00AM  GlobeNewswire]
Financial statements of OIIM
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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