"How soon they forget....... "
I agree with the fairly valued. I am waiting for around $16 to get back in again, depending upon market conditions at the time.
Revenues were slightly above flat, compared with last year, and profits were significantly down due to low margins on their turnkey products. However, revenues and earnings did show nice gains when compared sequentially.
As Skeets says, though, the market has a tendancy to award sky high pe's to tech stocks. If GEMS has a good earnings report, I think that it could climb into the mid 20's also, but I don't think we will see it before the earnings report or earnings rumors.
Reason: There is one big barrier standing in front of the mid 20's, prior to the earnings report........... The market may still remember the jolt of the low revenue and earnings disappointments that caused GEMS to slide down from the $30's to below $10. In fact, aren't there a couple of shareholders lawsuits going on due to the earnings "surprises"?
On the good side, I am very impressed with Glenayre's ability to reengineer it's business towards BPCS and turnkey systems and the International markets, after being faced with the slowdown in US NPCS business. Also, if the FCC decides to changes to the existing license debt and holding rules, it would be a plus for GEMS.
Just thought I'd add my 2 cents.
Regards, Bob
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