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Biotech / Medical : Biosource International

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To: milton who wrote (416)	2/2/1998 7:20:00 AM
From: Joe Dancy	Read Replies (1) of 696

I'd agree with your short assessment Milton. A one to two day cover ratio is really quite reasonable - and the positions appear to have been taken in November which means they may have thought that their could be tax selling weakness to offset some really major gains made in other stocks last year. March seems like forever for them to release earnings. I wasn't an owner last year when they released on March 5th, but maybe they had some accounting issues with some of the stuff they acquired and had to restate earnings on a merged basis so that delayed announcement. You wouldn't think it would take them two months to figure out the previous fiscal years earnings unless there were a number of accounting issues. Best - Joe

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