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I only see a knee-jerk reaction to some concerns about possible impact from Asia, but those selling today forget that the CEO as recently as 2 weeks ago answered questions at a tech conference in Boca Raton. Florida, and agreed that sales in 1997 will exceed $800 MM and that operating margins should be 10% net in 1997, which means $1.46/sh. to $1.63/sh. in 1998, and Asia problems were already well advanced when he made those statements. Also, it now looks like those Asia problems are not as bad as originally thought, since the Hong Kong market now is above what it was before the October 27 fiasco. So, technically, it seems to be holding above 22 and should break out above 24 soon. Just my opinion, of course. |
