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Technology Stocks : Barringer technology (barr)
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To: Wade who wrote (459)2/5/1998 12:34:00 AM
From: Sparky Beardslee   of 652
 
Wade: thanks for your note. BARR does not need the money. That's what erks me. They were riding high last 8/7 and when they announced great earnings they thought they would raise more cash for their "treasure" chest. Of course it backfired. When they announced their new product line, I thought they would use the money from the offering to manufacture the product, but they found someone else to do it. We know the money will be wisely used and will remain in the asset account so there will be no dilution of equity. The stock has been so manipulated that investor confidence is quite low. I had a stock fund interested in it until they caught the beta. The new FAA contract will add a great deal to the bottom line for Q'1 and 2 for sure as the $5.4 mill is a complete quarters worth in one contract. Add that to their already improving line and you get record earnings. Just a matter of time.
Rich Rosenfeld, the CFO is very helpful to me as he quickly answers any questions I have and his comments have helped me stay the course. I almost gave up today when I saw the washout begining taking the stock down to 12 3/8 just to pick up some poor guys 20K. ruthless to say the least. I don't care about the guy with the 20K, he deserves it placing a stop with guys like this. I feel bad for the ones they scared in today taking it down so fast.
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