Bringing it all together in 2018
Thin Film Electronics (Thinfilm; THIN) continues to report significant advances on an almost weekly basis. In October it took the keys to its new San Jose facility and recent milestones include new pilot orders in gemstones (Sarine Technology) and food (olive oil) and a partnership to produce combined hologram/NFC document authentication tags. We have cut our near-term earnings forecasts as THIN no longer intends to further de-bottleneck its existing plant (with short-term revenue implications), but our DCF valuation has risen 15% to $10.40/ADR, reflecting the expected boost to long-term cash flows from the greatly increased capacity/reduced cost expectations from the planned new roll-to-roll (R2R) production line.Thin Film Electronics is an electronics group based in Norway. Co. is engaged in the development of printed electronics. Co. commercializes printed rewritable memory and creates printed system products that include memory, sensing, display and wireless communication. Co.'s products include memory labels, storing digital data on a thin, rewritable label; brand protection solutions, consisting of adhesive labels that generate a distinct forensic electrical signature; sensor labels, which sense information and store data; display labels, low cost display media to communicate the information stored in the ThinFilm Memory; and NFC Smart Labels.
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