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Technology Stocks : DDL Electronics

DDL 2.040

-0.5%

Dec 12 9:30 AM EST

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To: Lee Goodman who wrote (100)	1/7/1998 11:05:00 PM
From: Chris Nevil	Read Replies (2) of 164

Figured it was time to take this thread into 1998. With the stock once again printing at a mortifying bid of 62 cents, I called the CFO for an update. Here's what I learned: The company does not know where the selling pressure is coming from. They share our concern that the stock is grossly undervalued at this level. Business conditions are fine. They will report Q2 earnings during the week of 1/19 and the report should show continuing progress. There is essentially no direct Asia exposure. Most of SmTeK's work is with high-end commercial/military in the U.S.; the Ireland plant sells primarily to Europe. The company continues to evaluate acquisition opportunities. Getting the stock price up would obviously help in that respect. The preliminary proxy for the Jolt acquisition was filed with the SEC just before Christmas. The SEC's comments are due back late this month and the document should be finalized and distributed in early to mid February. Meanwhile, the company has already begun to implement a profitable "rapid response team" manufacturing approach modeled after a similar process at Jolt. The annual meeting should take place in March. I was heartened to learn that the CFO had filed for and bought 10,000 shares on the open market in December, and had attempted to purchase more stock today. I emphasized my concern that the company take a somewhat more aggressive posture in investor relations. It was encouraging that the stock actually printed up at the close today after doing a fair amount of trading at 5/8. Dare I wonder if we may have finally seen the bottom? Happy 1998 to all, Chris

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