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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Leo Francis who wrote (1415)7/14/1997 9:42:00 PM
From: Amir Shalit   of 3431
 
Leo, not long ago GEMS was trading at a PE of 8 which
was also book value.

The market was very skeptical regarding the future of
the U.S. paging industry. The transition to PCS and
two way paging has been very slow. What GEMS managed to
do is shift the focus to international paging sales.
Last eps report they proved that they can make 22C/share
on 65% of paging sales coming from non U.S. customers.
Now the question is how fast they can grow earnings. Since
it's somewhat of an unkown and since not too many investors
are familiar with GEMS they trade at 17x earnings.

Amir
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