Dialogic ready to soar, funds buying Message Board

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Technology Stocks : Dialogic ready to soar, funds buying

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To: J L Segal who wrote (531)	1/19/1998 6:37:00 PM
From: Jay M. Harris	Read Replies (1) of 674

J L, Dialogic did report a strong European quarter. However, the US dollar is currently strong against European currencies as well, making DLGC's equipment even more expensive. Also, I'm trying to get a handle on this year 2000 stuff. Well informed people I speak with are telling me that this problem is currently capturing alot of MIS exec mind share. This problem will have the effect of redirecting discretionary capital investment toward year 2000 complience since this spending will be critical for the integrity of enterprise platforms. This will delay the capital budget at a minimum, and worse, could replace CTI cap ex sometime during 1998. I think Rational Software is experiencing similar delays in demand for their internal developement tools, as well as Oracle's falloff in database engine seats. Furthermore, I currently believe that Asia is in worse shape than many market participants. I do believe that many technology companys will miss the seasonally slow first quarter. I think the seasonally strong 4q 97 will mask the real difficult operating environment in Japan and elseware. I have heard from very good businessmen that fraud and corruption are prevelant in the pacific rim. Frankly, this mess scares me. Finally, I can't speak to the earnings restatement. I have not heard of this issue. The CFO of Dialogic is relatively new. It is possible that he is not happy with some of Ed Jordan's work. However, in the time that I have followed DLGC, I always thought that their accounting was extremely sound. I did notice that inventory was being built in the latest quarter. However, Tom Amato explained that they did not want to "starve the channel" with all of the new product launches currently underway. I hope that inventory is under control this quarter. I know this is a goal of the new CFO. Jay

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