Glenayre Technologies(GEMS)- a pure cellular PCS play? Message Board

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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?

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To: Fun-da-Mental#1 who wrote (3190)	8/18/1999 2:18:00 PM
From: WHL	Read Replies (1) of 3431

Remember this? Message 8145769 Well, here we are. It's been over 8 months to get down here, but how sweet it is. Just while the institutions are forced to sell (due to violations of minimum price standards) and the poor margin players are getting the stuffing kicked out of them, we can be comfortably buying to put some GEMS away for a couple of "turn-around" years. It won't be a day trading type of thing anytime soon either (thank heavens). Remember this Q will look pretty ugly. From the company's press release of 7/26/99: "The company expects to record third quarter charges between $10 million and $15 million associated with these changes. Secondly, Glenayre expects to record a $50 million to $60 million writedown of goodwill and other intangibles in the third quarter 1999 related to its Wireless Access pager business. The writedown will result primarily from lower than expected financial results attributed to a slowdown in worldwide paging and the buildout of two-way paging systems."

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