VICOM

[weijian]

hi QF,
Thanks for the investigation.

For bold1 --> Yes, it is an assumption based on the fact everyone are subsidiaries of this company called Spore Inc... In investing, ain't we all making assumptions based on observations or facts?

For bold2 --> What i meant, is that i concluded OVERALL VICOM margins improved mainly because there was a BIGGER improvement in margins coming from SETSCO (Compared to previous years). Here's the illustrate what i meant (hope it clarifies):
Operating margins:
----------vehicle---non-vehicle
2008-------31%-------12%----
2009-------35%-------18%----
2010-------37%-------19%----

For SETSCO, OP increased by 7% (which is 7/12 ~ 50% improvement)
For vehicle testing, OP increased by 6% (which is 6/31 = 20% improvement).

(P.S. i have not updated my VICOM spreadsheet for almost a year now)

For bold3 --> It is an ISO requirement for the measuring instrument to undergo calibration based on the terms stated.