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Non-Tech : soc-sunbeam

SOC 10.46

-18.5%

Oct 31 9:30 AM EST

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To: gyzniwa who wrote ()	6/24/2000 8:57:00 AM
From: leigh aulper	Read Replies (1) of 407

Analyst emphasizes Sunbeam's story William Steele, Banc of America Securities WILLIAM H. STEELE is a Managing Director and Senior Research Analyst at Banc of America Securities LLC. Tell a Friend! TWST: Let's start with your universe of personal care and household products companies. What do you include? Mr. Steele: I've got a little bit more of an eclectic group than some folks. I have the nondurable companies, which includes P&G (NYSE:PG) and Colgate (NYSE:CL), durable household products companies such as Newell Rubbermaid (NYSE:NWL) and Sunbeam (NYSE:SOC), as well as Applica Inc. (NYSE:APN, formerly Windmere), and the direct sellers such as Avon (NYSE:AVP) and Nu Skin (NYSE:NUS). So my group is quite diversified. TWST: What about small appliance manufacturers such as Sunbeam (NYSE:SOC)? Mr. Steele: Sunbeam is a very interesting story. It is quite clearly a turnaround situation left from the prior management team. I think Jerry Levin and his team have done a very good job, given what they were dropped into, of getting this company back on solid footing. They do have about $2 billion in debt and they've really got to come to grips with that. First and foremost, they had to get all of these acquisitions assimilated that were made several years ago, and they've done that. They have 16 different business units. They're starting to chug out new products on a consistent basis. I think their operating margins are expanding. We just need to get to the kind of proverbial next step to see what their strategic plan is going to be to address this depth position.

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