OCCF: Optical Cable Corp Message Board

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Technology Stocks : OCCF: Optical Cable Corp

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To: bigbutt who wrote (509)	10/30/1997 3:00:00 PM
From: Tiburon	Read Replies (1) of 545

Bigbutt, OCCF/Kopstein just announced a $5mm share repurchase program. Interesting time to initiate a buy back - after Soundview and Tucker Anthony lowered ratings based on lower revenues, lower margins and lower eps. And $5mm dollars? I wonder where they are planning to get $5mm. They had $333,000 in cash on the balance sheet at the end of last quarter. So, they are going to borrow money to buy back stock trading at over 50 X earnings when margns and revenues are coming down? I don't get it. Doesn't seem like a wise use of cash. I guess the actual question is whether or not they actually will buy back shares. Considering the above, I would doubt they buy any substantial number - maybe a few hundred or so, but not enough to dramatically alter the float or short position. I wonder if Kopstein will update the web page with the recent Soundview and Tucker Anthony downgrades?

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