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Science Technology Company - 1985 Advanced Financial Management Professor Clayton June 9, 2005 Chirayu Patel Dave Chen Ian Hoffman Tim Boyd Bill Watson of Science Technology Company (STC) should not discuss the current 5-year financing plan prepared by Harry Finson, the chief financial officer, at the forthcoming board meeting. The industry that STC is in has short product life cycle, rapid technology obsolescence and fast growth with increasing competition. In fact, STC's strategy to survive the competition is to maintain leadership in ATE segment and to further compete in the large scale integrated (VLSI) circuits segment by chasing market share and spreading high R&D cost over large sales. However, the large sales growth seems to be more difficult to obtain with the newly added competition. Based on historical trend, level of competition, and other related industry figures; It is suggested that a more reasonable 12.8% annual growth projection be used. STC is losing cash flow in both...

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