I stand corrected on the $160 million contract announced on September 1998. However, the press release stated that it was a 2-year contract, and the Newbridge was given a substantial portion. Let me point out that on 8/31/98, NN closed at 18 5/8, but at the end of September 1998 the price was down to 17 15/16. Basically, the contract meant nothing of substance.
For the September 1997, as I stated, NN did not issue any contract announcements that coincided with the annual meeting.
In hindsight, I should have stated that NN does not have a consistent track record for issuing press releases that overlap with the annual meeting. Let me state this differently, Newbridge does not, as a matter of routine, issue press releases coincidental with the shareholders meeting. Maybe the company will this time, but do not expect it. |
