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Biotech / Medical : Trickle Portfolio
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To: tuck who wrote (742)7/22/2001 7:07:44 PM
From: smh  Read Replies (1) of 1784
 
Tuck,

PKI buyout of PBSC looks like a disaster for GNSL to me. The following from a Yahoo post reflects my feeling.

<PKI made GNSL look silly. GNSL was pumping out press releases about a strengthened relationship and created a new position for one of their VP's to deal with PKI. Now PKI lowers the boom on them. Looks like trying to weasel out of an agreement left a bitter taste in someone's mouth and GNSL is left dangling in the wind as a result.>

GNSL down 24% since munch announcement. Listening to the PKI cc, it sounds like they plan to expand the PBSC product line such that the overlap with GNSL will be complete, making the PKI/GNSL relationship a joke. As worldwide marketing/service partner PKI has had access to GNSL’s mostly proprietary IP, not to mention marketing strategy. This, along with a recent second warning, has fully dissipated the previously strong GNSL earnings growth.

Based on the PBSC buyout, my back of the envelope calculations indicate that GNSL is probably worth about $5 in a munch at this time. Things may look better if orders pick up in the next few months. I am hopeful that the RA-1 will be a success in its target market segment.

Will have to wait and see what Jeff Williams has to say on the 31st, I think. In the meantime, any thoughts (especially positive) would be welcome.

Regards
SMH
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