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Technology Stocks : Praegitzer Industries (PGTZ)
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To: Creditman who wrote (114)9/8/1997 1:50:00 PM
From: kolo55   of 196
 
But the company said production up 25-30% over last year's Q

I agree with your comment on the layoffs and the schedule changes etc. But that's not what is taking the stock down. It was a statement from one of the announcements that production levelsm would be up 25-30% from last year.

If the production (and revenues?) are up only 25-30% over last year's disappointing quarter, I still only calculate $39M in revenues at best, versus $45M in the Jun quarter. This is the first sequential revenue drop for this company in a long time. I think I'm reading the company's forward looking statement correctly. They didn't say "at least 25-30%" growth over last year. They have given us a forward looking estimate of production level for this quarter over last year's quarter.

Since a lot of people (including me) have invested in the company because of the above sector revenue growth, the company's projection of a sequential decline in revenues is hitting the stock price. This probably is a stock buying opportunity; but the SepQ revenues will be disappointing, and it will take a rebound in the DecQ revenues to get the stock moving again.

If they didn't mean what they said in the announcement, then I'd love to hear it corrected. I'd be all over this stock if I though revenues were going to come in even flat with last quarter.

Paul
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