I just purchased 2000 shares about an hour ago, and I'll tell you my rationale:

$250MM in long term and short term cash.

$160MM in debt. This offsets the $360MM in plant/equipment and inventory (very conservative).

http://finance.yahoo.com/q/bs?s=CRDN



26MM shares outstanding ... this comes to ~$10 per share in cash free and clear.

http://finance.yahoo.com/q/ks?s=CRDN


This means that the company is trading at ~ $6.60

Next years EPS is estimated by the company to be from .80 to 1.00 and averaged by 7 analysts to be .86 .

http://finance.yahoo.com/q/ae?s=CRDN



So let's take .80 as next years EPS. If you divide that by the real price of the stock ... $6.60 then you get a P/E ratio of 8.25.

Let me repeat that ... the forward P/E of this company is 8.25 !

The Industry that it is in ... Industrial Equipment & Components ... has an average of P/E of 22

http://finance.yahoo.com/q/co?s=CRDN




There is no doubt that this company innovates. Will the aluminum business take off, or solar, or will the crucible business increase? Who knows. To me, this is just a cherry on top of a cream puff.

What does the chart say ... that we are at a low:

http://finance.yahoo.com/q/bc?s=CRDN&t=6...

If anyone knows of a similar cream puff like CRDN out there ... PLEASE lemme know ... I'll buy that too!!!