In doing research on AXC, i searched the AOL files and thought I share these. these are from 10/17 to 10/21.
Subj: Re:trading
Date: 96-10-17 18:51:21 EST
From: Acsm
Hi LazerL, Pls. release your cap lock as CAPITAL letters means your shouting
in cyberspace linguistics...
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Subj: Re:trading
Date: 96-10-17 19:27:34 EST
From: GMJHWINGS
once again the the thoughts of ampex are speculative at best.The stock has
risen and fallen as all companies do....but my question is this....if you
bought the stock at higher than $8,and nothing fundamentally has change with
the company(or your reason for buying originally) why why why my dear souls
would you not buy more at these depressed levels? Ampex will be a winner, no
doubt about it.....Hey does anyone follow high end audio and video for home
theatre? Ampex is constantly talked about in this small but ever expanding
sector............wings
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Subj: Re:trading
Date: 96-10-17 20:21:26 EST
From: RRomano617
Investors, this is tax loss selling time. Many people who bought in above 10
during all the hype could be calling it quits to offset some gains. Any
buying of this stock for the past month has been met with selling. It is
scary to see this stock sell off late in the day. It is never a good
indicator to see a stock fall apart like this one does every afternoon.
Let's be honest the market is more right than not. If a stock falls back it
does for a reason, if a stock heads up before earning it does for a reason.
It is totally impossible to keep this KM project quiet. If there is a deal
the news will leak and the stock will move up before announcement.
Does anybody now how I can get the article from the Data Storage mag on KM?
What ever happened to the Disk Conference in which AMpex had a booth?
Why is everything so quiet at Ampex? They are scarred shitless over the new
proposition to allow shareholders to sue the company for
hyping!!!!!!!!!!!!!!
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Subj: Re:trading
Date: 96-10-17 23:25:18 EST
From: HPhill
News does not always leak but there is always rumors. Remember last earnings
season Iomega moved up before earnings anouncement then fell after the
anouncement when earnings were reported. Rumor was that they would beat the
estimate, but actual fact was that it was not as good as hype on this board.
It fell and the same thing happened. My experiance is the market is usually
WRONG on short term and usually right long term. If the stock is usually
right why does the price of any stock change daily? Which day did any stock
have the right price. Who determines the right price. Many ways to value a
stock which method is right? Pick any one of them and any month the market
is wrong at least 19 of 20 trading days and usually wrong on all of them!
Only in the long run after all facts are known does the price seem even close
to being right.
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Subj: Dont knock yourselves out
Date: 96-10-18 18:50:41 EST
From: HITDABID
Everyone should sit back a bit and let a little time pass while we wait
patiently for AXC to do something. If you are someone who is considering
selling AXC for tax related purposes as an earlier post had mentioned, I
would doubt very much that if you were planning to buy the stock back after
the 30 day period required to realize your loss, youd be able to buy it
anywhere near where you sold.
Earnings are due before the end of the month.
Keepered Media is very likely to be at least mentioned in a brief way, if not
more. This is all we need to hear right now on this company. We are all well
aware that the company has loads of other things going on that are supporting
the CURRENT stock price, however in my opinion......the value of the stock at
these levels does not have ANY premium in it with respect to Keepered Media.
Emotionally, we would all love to see the company hyping up the expectations
of KM and running the stock up on nothing but puffery... we saw what that did
for us in May/June. Straight up......Straight down....
I applaud management for being so tight lipped regarding what is going on
behind the scenes, a good and ethical managemt team should do just that.
Again , I think if youre a seller down here..... youll regret it.
Im long higher but hope I get a chance to get a shot at buying a big piece
close to 6 if I can.
I think I am not alone either.
LONG, PATIENT,and WELL INFORMED
HITDA
epered Media.
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Subj: Re:Dont knock yourselves out
Date: 96-10-18 19:16:12 EST
From: Train31
It was very assuring to here from you hitdabid, you are definetly a voice of
reason. Now is the time when nervous longs may panic out of this stock. As
a well informed investor I know that AXC is a bargain at these levels and
feel confident that we are truly recieving value at $6-6 1/2 a share. Being
right sometimes means being patient. If you believe in this stock, now is
the time to prove it. Long time reader, I love this board
Train31
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Subj: Theory on Quiet Mgmt
Date: 96-10-18 22:46:56 EST
From: Mimbreno
I wonder if Ampex management is being so tight-lipped about KM (and other
company matters) because there is a proposition on the upcoming ballot in
California concerning allowing shareholders to sue companies (to a greater
extent than they can now??) for not making good on forecasts, projections,
etc.
Sorry I don't have more details about this, but I don't live in California.
But I've been hearing in the media that companies, especially in the
high-tech area, are saying less and less in order to limit their exposure to
this kind of litigation should the proposition be passed.
Anyone out there know more about this?Subj: Disclosure
Date: 96-10-19 12:35:31 EST
From: JLate34188
I noticed on company resources that AXC filed another disclosure today.
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Subj: Re:Theory on Quiet Mgmt
Date: 96-10-19 14:54:45 EST
From: VHS 68
Mimbreno,
Proposition 211 is on the california ballot for november 5th. in a
nut-shell, Prop. 211 would permit a class-action shareholder lawsuit based on
a drop in a company's stock price. it would also prohibit companies from
indemnifying officers and directors, allow punitive damages , and raise the
level of personal liability. who proposed this initiative????? lawyers of
course!!!! San Diego litigator William Lerach. although there is a
federal law prohibiting actions such as this, prop. 211 would override the
feds law.
if this passes, look for wholesale resignations from the boards of an awful
lot of california comapnies. and also look for the continued exodus of
companies leaving calif.
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Subj: Re:Theory on Quiet Mgmt
Date: 96-10-19 15:42:48 EST
From: JAandJA
on the other hand, there are many "nutty" shareholders in public co's looking
for guarantees.
In some cases they are correct in suing the Board, in most cases it is
frivilous, unreasonable,
and for a young, growing company, causes prohibitively expensive legal costs.
I am FOR 2ll
passing and I dont live in Calif.
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Subj: Re:Theory on Quiet Mgmt
Date: 96-10-19 21:02:02 EST
From: J1ML
JAandJA,
How could you possibly be for prop 211? I am seriously interested in your
rationale.
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SUBJ: Re:Theory on Quiet Mgmt
Date: 96-10-19 21:58:38 EST
From: DRlotec
I live in Calif and dont feel 211 has a chance; Calif's are relieved
we have retooled from defense dependent to diverse economy;
in cases of actual known falsifcations the right to sue cannot
be abridged by a proposition; the feds are currently indicting
50 brokers and MM's for just that. As for AXC, the problem is
not its long term prospects, it is the length of time projected
to realize new markets/products trying investors patience.
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Subj: Re:stock price
Date: 96-10-19 23:00:01 EST
From: Lsscbd
I have been a stockholder of AXC since april '95 and have sold none while
adding to my position periodically. Am a total fan of AXC and its management
so i have an admittedly bullish bias. I started this bulletin board early
this year mainly because i wanted to hear bearish bias which would prevent
euphoria on my part. In general, the postings have been excellent and
educational with a minimum of petty bickering. I feel, however, that there
is probably too much discussion on why the stock is or is not moving on a
particular day or in a particular period. While some very sophisticated
people can make money trading stocks, most people who attempt short term
trading are devoured by a combination of transaction costs and their own
emotion. For example, if one is a trader and bought AXC at $14 he has scene
his capital erode by more than 50% in a short period and is wondering what is
going wrong with the company. If the same person had purchased the stock
approximately 6 months earlier at $3 he might be mildly annoyed that he
didn't sell at 15 but mostly is congratulating himself on picking a stock
that has more than doubled in less than 1 year.
My analysis (and i admit to being technically challenged) is simple:
1. AXC's management is good or better than good- it has demonstrated this by
bringing the company back from near bankruptcy to relative financial health
in a short period. 2. Management appears to
be honest and long term in its approach- while the company's products are
sometimes hyped early this is not done by management. More importantly,
senior management are very substantial stockholders and therefore have
interests that are parallel with those of us who are long.
3. the company has been making money and has not had earnings disapoinments-
I don't think the Q3 earnings on tues will be any exception. I hav read
criticism of earnings quality because of their royalty stream but i find this
curious because i believe that aggressive protection ofpatent income is
both intelligent and a great way to support the balance sheet and smooth over
possible bumps in operating results.
4. The company appears to be worth more than its present stock price even if
KM is not a viable technology- it is making money, has technology that it
has already successfully marketed (DST) in one of the most exciting areas of
communications among other products. 5. There is no
reason to believe that KM will not be a very successful product other than
our own impatience and a lemming-like following of what appears to me to be a
'chicken little' reaction to what people perceive to be a slowness of oems to
adopt it - I believe it will be successful not because i totally understand
it but because the management which owns the stock and appears to be honest
is clearly gearing up to manufacure and market it by hiring people to do
just that.
I would like to continue but i'm starting to bore even myself. I suggest
that those of you who really believe or believed that the stock was going to
be worth $25 or higher stop trying to figure out why that hasn't happened or
when it might happen and merely plan to hold the stock until you find a good
reason (not a trading technician's) reason to sell it. Here's hoping i'm
right!!!Subj: Re:stock price
Date: 96-10-20 07:14:50 EST
From: ThfOfHrts
After reading Lc's post, im adding to my meager little 1500 shares...good
post and the ideas he through on the board are the same that my broker gave
me back when I purchased at 8 and 9. Go ampex..
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Subj: Re:stock price
Date: 96-10-20 11:18:11 EST
From: KRMER7
when a story doesnt change, just the stock price, that means that patience
must prevail. if the company was putting out news that keepered doesnt work,
or that there was no way that they could market it, then i would voice
concern, neither has happened. what we need to do is the following. for
those of us who are long, we must learn greater patience, and hold the stock.
the company has a via wble technology in keepered media, and , i believe,
will find a way to market it. in the interim, we must hold the stock, and
wait for an announcement, i feel we will all be greatly rewarded. rome was
not built in a day, and the true wealth in this country was not made
overnight. patience will prove profitable to all that hold, and devastating
for those short the stock. patient and long........
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Subj: Re: California Prop 211
Date: 96-10-20 14:43:42 EST
From: PAG6447
The provisions of Prop 211 apply equally to any company which has a
shareholder of record which resids in the state of California.
Imagine the effects this type legislation would have on one's ability to
utilize company data to look forward as part of the decision making process.
YIKES!!
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Subj: Individual Investor Remarks
Date: 96-10-20 16:56:17 EST
From: Brooke295
Latest Indiv Investor Bulletin again is bullish on AXC. They expect $.06 per
share to be announced October 30 for 3Q results. They see major support at
$5 and expect a decision, aye or nay, by a major disk drive maker by the end
of the year....only 10 weeks away. Mortgage the ranch if AXC drops below
$6...
Brooke295
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Subj: Prop 211
Date: 96-10-20 23:44:49 EST
From: NAMTHGIWD
Just a thought:
Could Co's issue stock that would be "null and void" if owned by residents of
California. IPO's would be unavailable to CA residents. Just like a
prospectus has to meet the securities laws of the state it is used in, co's
go state by state and go around California. It would not be the first time
that a piece of legislation back-fired. Remember the luxury tax (those silly
democrats) , put the custom boat business out of business in the u.s. Lots
of insane possibilities!!!
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Subj: Re:Prop 211
Date: 96-10-21 18:41:03 EST
From: J1ML
Yes, then the only IRA available for CA residents will be a passbook acct. at
Wells Fargo.
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!Subj: PROP 211 and AXC
Date: 96-10-21 20:34:31 EST
From: Devpuck
As a lawyer who frankly gave up on the practice because of shark slimy
plaintiff lawyers who ply their dishonorable trade by preying on companies
who have experienced short term problems and sell it with BS lies and a
sleazy dog and pony show to "friendly" judges who apply overly broad laws, I
urge you to vote AGAINST Prop 211. While I cannot claim to know the specifics
of the particular California Proposition, I can tell you that these sharks
will stop at absolutely NOTHING to extract their pound of flesh using and
abusing our liberal laws to force companies to settle bogus claims. Don't
let the slimebags win this one!!!!!!! As to AXC, patience is a virtue my
friends; the bottom line is that AXC has proven technology,superior
management and intellectual property rights which will continue to materially
contribute to the bottom line. Buy AXC at these bargain basement levels...You
will ultimately be rewarded...GO AXC!!!!
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Subj: 3rd Quarter Earnings $.07
Date: 96-10-21 20:34:57 EST
From: S DuffyNYC
I just picked up $.07 per share from the Executive News Service on
Compuserve.
TIME: 9:05 pm
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Subj: Re:3rd Quarter Earnings $.07
Date: 96-10-21 20:57:34 EST
From: Amorsolo
Good earnings!
$0.07/share + .05 + .01 [adding back one-time legal/moving charges]
less
[.02 + .01 royalty settlements/restruc.credit]
=$.10/share
-(BUSINESS WIRE)--Oct. 21, 1996--Ampex
Corporation (AMEX:AXC) reported today net income of approximately
$3.1 million on sales of $23.6 million, for the third quarter of
1996, resulting in fully diluted earnings per share of $0.07, after
deducting expenses for previously disclosed patent infringement
litigation with a foreign consumer products manufacturer of
approximately $0.05, and moving expenses of approximately $0.01 per
share for the quarter.
In the third quarter of 1995, the company reported net income of
$3.4 million, on sales of $23.4 million, and fully diluted earnings
per share of $0.09. There were no patent infringement litigation or
moving costs during the third quarter of 1995.
Earnings for the third quarter of 1996 increased due to income
from non-recurring royalty settlements relating to prior periods of
approximately $0.02 per share and restructuring credits of
approximately $0.01 per share.
During the third quarter of 1995, the company recorded a gain of
approximately $0.03 per share as a result of transactions relating
to facilities that it had vacated in connection with its 1993
restructuring of operations.
The increase in selling and administrative expenses of $2.0
million for the third quarter of 1996 compared to the third quarter
of 1995 was entirely related to the ongoing patent infringement
litigation with a foreign consumer products manufacturer.
Sales of 19 millimeter data storage and instrumentation products
more than doubled between comparable quarterly periods and offset
declines in sales of other instrumentation recorders and of
professional television and television aftermarket products.
Gross margin percentages for the third quarter 1996 decreased to
46.7% from 48.0% for the third quarter of 1995 due to the company's
previously announced decision to lower prices of its 19 millimeter
data storage and instrumentation products to broaden their appeal to
emerging commercial mass data storage applications.
For the nine months ended Sept. 30, 1996, Ampex generated net
income of $10.5 million on sales of $72.3 million, and fully diluted
earnings per share of $0.24, compared to net income of $14.9 million
on sales of $71.6 million, and fully diluted earnings per share of
$0.35 for the comparable period in 1995.
Patent infringement litigation reduced earnings by approximately
$0.06 per share, and moving costs reduced earnings by approximately
$0.01 per share for the nine months ended Sept. 30, 1996. There were
no patent litigation or moving costs during the comparable period in
1995.
Nonrecurring royalty settlements related to prior periods
increased earnings by approximately $0.04 per share and
restructuring credits increased earnings by approximately $0.01 per
share in the nine months ended Sept. 30, 1996. Income in the nine
months ended Sept. 30, 1995 was increased by nonrecurring royalty
settlements of approximately $0.21 per share and restructuring
credits of approximately $0.02 per share.
Ampex Corp. is one of the world's leading innovators in the
fields of magnetic recording, image processing and high-performance
digital storage. Ampex is currently focusing its technology on the
emerging market for mass data storage in the visual information age.
During its 52-year history of innovation, Ampex has been granted
thousands of patents and numerous awards for technical achievement.
Headquartered in Redwood City, Calif., Ampex's customers today
include such leading organizations as Boeing, Eastman Kodak, Mobil
Oil, Time Warner and NASA.
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Subj: Re:3rd Quarter Earnings $.07
Date: 96-10-21 21:10:21 EST
From: Acsm
You consider this good news?? It sounds pretty lousy to me.....
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Subj: Re:3rd
Quarter Earnings $.07
Date: 96-10-21 22:03:00 EST
From: Brooke295
Hey HITABID..........whats your take on the earnings???
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Subj: HITABID
Date: 96-10-21 22:53:36 EST
From: J1ML
Would'nt it be more optimistic if you called yourself HITANASK?
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Subj: Re:3rd Quarter Earnings $.07
Date: 96-10-21 23:56:39 EST
From: HPhill
They beat estimate of $.06 per share and without one time charges it would
have been $.10 per share. Not shabby! Why do you think its lousy? |
