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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Rob Wachowsky who wrote (3417)5/23/2001 2:20:06 PM
From: KyrosL  Read Replies (1) of 3431
 
I don't see bankruptcy any time soon, and in fact there is a possibility that GEMS will revive in the future. They have 70 million cash, and the vast majority of the writeoffs are non-cash items. Their aggressive cutting of the workforce may mean that they will operate the discontinued pieces of the company as cash cows, so in fact they may have positive cash flow from the discontinued operations over the next few quarters. Still, they now depend on a single unproven product for their future, and the one product which had a lot of potential, IMO, the Locate tags, is now gone. Given that my overall expectation for the markets in general and techs in particular is very low, I got out of GEMS. However, should it fall in the low ones, I will reconsider.
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