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Technology Stocks : CMIC- CALIFORNIA MICROWAVE

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To: gary catalano who wrote (3)	5/6/1996 2:50:00 PM
From: Brad Fisher	of 67

Today I got the report for the third quarter ended March 31. "Highlights" include the following: For the most recent quarter: Earnings down 78% to $1.3 million (.08 / share vs. .36 last yr) Sales down 18% from 121.9 million to 100.1 million New orders booked in the quarter declined 23% to 90.4 million The period end backlog decreased 23% to 206 million Orders and sales can be broken down as follows: Orders Sales Wireless products 46% 40% Satellite systems/products 40% 40% International business 37% 45% For the first nine months of the fiscal year: Earnings per share down from $1.02 to .36 Sales down from 356.1 million to 332.1 million If there was a silver lining, I overlooked it. Any thoughts?

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