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Technology Stocks : EFII - Electronics for Imaging
EFII 36.970.0%Jul 23 5:00 PM EST
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To: ram yariv who wrote (549)12/17/1997 4:31:00 PM
From: Claude Edelson  Read Replies (2) of 1460
 
Ram Yariv,

You make a good point about insider sales. However, (forget lawsuits - this is not my focus) you have to ask some questions:

When did management know that they would miss revenues by 50%. It is tough to imagine that they only new in early December.

A company is required to file an 8k with the SEC when a material event has occurred that may effect shareholders (requirement number 5).

I also expect more from analysts then to pronounce the body dead after everyone knows the obvious. Two days before the Prudential analyst was still saying strong buy - clearly there is a communication problem as described below.

Part of analyst problem is that EFII played everything close to the vest- which was admitted by EFII spokesperson (Saltzman?) - that is, they did not disclose information fully or quickly. Yes, EFII had 12 potential sky is falling statements but a 50% drop announced three weeks before quarter end is a major surprise - no less shock - Hindsight is always 20/20 and should have expected is easy to say after the fact.

Having said all that - I am hoping that EFII is like Octel - i.e., it will drift but since it has such a huge share of the market it ultimately will be bought out.

Claude
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