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CJ - I called IR several times on the PR item and got the story of a Q3 event, as described earlier, with a lot of work being done right now to solidify the message to be delivered. I suspect that with the recent weakening of the Dollar versus the Euro during June, a slight delay in advertising expenditures into Q3, and with the slight bounce back of the internet stocks since the last April's conference call, that this may provide the additional impetus to beat earnings, not to mention the effect of headcount reductions. IMHO, I think they may be able to post $0.24/sh from operations with $0.03/sh from investment income for a total of $0.27/sh. I think that if they meet the number the street will be pretty happy with yet another quarter delivering the promised results. The real kicker, IMO, will be not by how much they beat earnings, but whether or not there is a turnaround in the corporate PC group and a profitability is demonstrated. Last quarter they were not too far off, making a drastic comeback from where they were. Separately, I am also glad that the 27.5 calls I wrote vaporized on Friday. |
