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Technology Stocks : Phoenix Technologies (PTEC)
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To: Marc Phelan who wrote (351)1/16/1997 8:03:00 PM
From: Tim Oliver   of 3624
 
Marc, I don't have my notes with me now, but I remember that they
told an analyst that the higher than targeted R&D was across the
board and not just VCI. Good point about the understated earnings.
If R&D was below target, I'd worry a little about the quality of
earnings and future growth. PTEC is obviously focused on their
new product cycle in several new high growth markets.

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