Glenayre Technologies(GEMS)- a pure cellular PCS play? Message Board

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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?

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To: van wang who wrote (1711)	8/3/1997 1:14:00 PM
From: Amir Shalit	of 3431

van, are you talking about PAGE balance sheet ? The first thing I do when I look at a company is reading the balance sheet. I have never taken any accounting classes but with very few exceptions, Boston Chicken being one, they are very simple to read. I know that PAGE book value is negative and you need a lot of creativity to see PAGE's value but it will all change soon when the huge amounts of positive cash flow start translating into earnings. PAGE after tax multiple without interest payment and depreciation would have been 3 !!! (i.e. $75M * 4 = $300M. $9/share * 100M (shares) / $300M = 3 they don't have to pay taxes due to many years of losses). Actually, I expect it's stock price to rise as soon as free cash flow turns positive and it could happen as soon as next quarter. Amir

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