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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Linda Kaplan who wrote (2370)12/16/1997 4:56:00 PM
From: Jeffrey L. Henken  Read Replies (2) of 3431
 
Well folks I talked with Mark Smalley at Glenayre this morning. I will hit the highlights.

First the currency problems in the Far East will have a material impact on Glenayre's earnings as it will many other companies for the immediate future. In any given quarter up to 25 % of sales are in that region. He could not comment on book to bill other than to say what we knew all ready which is the last public announcement was less than 1.

When asked how he felt GEMS would compete against MOT he answered that they always have done well on a historical basis. I took that to mean they don't fear MOT as a competitor as much as respect them. He said that the microwave business was being bid on by more than one party and the sale was moving closer to actuality.

He does not expect the two new businesses to add to earnings until around June. His words, "We are looking at GEMS as a second half of 98 story." The two way paging business is strong and GEMS is well positioned in this multibillion dollar industry.

Oh one more thing he confirmed that three separate insider's have purchased stock on the open market. Not large amounts mind you, but buys just the same.

Regards, Jeff
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