CMIC- CALIFORNIA MICROWAVE Message Board

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Technology Stocks : CMIC- CALIFORNIA MICROWAVE

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To: CYC who wrote (39)	3/10/1997 12:06:00 PM
From: CYC	of 67

To All: For those who are still following CMIC, there is a news item biz.yahoo.com regarding the affirmation of debt rating by S&P. The outlook is negative, as the article indicates by citing the tremendous restructuring charge that was annouced a few weeks back by the company. The challenge to get this company going again is not trivial. Nevertheless, the article also states that the estimated operational cost reduction is about $20 million for fiscal year 1998. Now think about it, if (and a big if) the company can sustain the current top line, the $20 million will translate into about $1.20 per share on the bottom line. I may be reading too much good things out of a neagative news since I am bullish on this dog. Anyone else wants to comment? CYC

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