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Technology Stocks : General Magic

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To: equityanalyst who wrote (9399)	3/8/2001 11:31:52 AM
From: equityanalyst	Read Replies (1) of 10081

BTW, and FWIW, Dain's post CC-comments include a reduction in their 2001 revenue projection from $22.1 million to $19.3 million (still representing a substantial increase from 2000's results, with the 2001 estimate presumably not including any potential revenues from any yet-to-be-announced non-OnStar sources) due to the revenue impact from the slower-than-expected nationwide rollout of Virtual Advisor. 1Q revenues expected to be $3 million, down from their earlier $3.3 million estimate. Dain sees the aggressive cost-reduction efforts as helping to offset their reduced revenue projections, and they now expect the net operating loss for 1Q and full-year 2001 to be a penny more than their previous estimates of ($0.06) and ($0.15), respectively. Dain remains wary of the company's financial condition, although they expect that the $45 million equity financing arrangement (approximately $13.3 million of which has been raised thus far) -- which expires March 31st -- will be extended, allowing the company to raise additional funds. Dain remains Neutral on the stock pending improved visibility.

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