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Microcap & Penny Stocks : SCAN OPTICS (NASDAQ:SOCR)
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To: Dennis C who wrote (539)2/24/1998 12:22:00 PM
From: Sye Walsh  Read Replies (1) of 576
 
Some Selling

I believe that the sellers this moring are acting on the conclusion that SOCR's business is slowing down. The news release states quite frankly that this is a strategic decision designed to focus the Company in areas that are expected to be SOCR'S future.

The Company reported that it will release 33 of its hardware and manufacturing employees today, but in 1998 will expand its software and professional services organization by more than 25%, as well as add resources in the areas of Customer Service and Sales and Marketing. The Company noted that the overall results of this shift in focus will reduce total manpower by 10% and enable Scan-Optics to be more responsive in the marketplace.

This direction is consistent with our strategy to provide more value to our customers through more complete and comprehensive solutions for data capture and retrieval. Although our imaging, OCR and paper handling hardware scanners remain pivotal to this strategy, surrounding this capability with software and services is critical to the markets we serve.

I believe by the end of the day that we will recover a large percentage of what we have lost. The street will come to the conclusion that the employee reduction and future expansion is beneficial to our company in both the short and long run. Sye
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