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Technology Stocks : Micrografx(MGXI)
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To: Kashish King who wrote (494)8/12/1997 7:26:00 PM
From: John Binford, Jr.   of 543
 
They certainly have made alot of bad moves. I talked with the CFO for a while today and really didn't get the feeling that we can expect positive earnings until maybe the Christmas quarter.

I also haven't liked the way the company gave up on the old customers who used Designer and Picture Publisher. Basically the company's focus is on flowcharter and the new enterprise management stuff and the consumer products.

I wasn't too impressed with their outlook. I also complained about their cost structure. They are closing the San Fran office and moving employees to Portland. But they need to do more cost cutting in my opinion. They can keep hoping for improvements in revenue, but they should have a plan to make a profit on $60 million in revenue now.
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