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Technology Stocks : Micrografx(MGXI)
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To: Jacky AY who wrote (498)8/14/1997 9:20:00 PM
From: John Binford, Jr.   of 543
 
I sold the rest of my MGXI at 6 3/4 today. After talking with the CFO the other day, I don't really feel they are a very good investment. In my opinion the company has to deliver a profit by cutting back expenses and not by trying for 4 years to increase revenues when they have bloated costs except for the R&D spending. I also don't like the capitalized software development costs. I recommend people compare the percent costs in each category with a successful company like Visio and note that MGXI is way out of line and destined to struggle for any profit.

Look at ASND, they buy CSCC and lay off 300+ and state that they had to do this so that it wouldn't be dilutive to earnings. Well, MGXI needs to get rid of the fat and face facts. They also need to generate new products at a faster rate.
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