ADSP - Ariel Message Board

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Technology Stocks : ADSP - Ariel

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To: Tradegod who wrote (1147)	2/26/1998 4:30:00 PM
From: Frank Perlmutter	Read Replies (3) of 2263

These two guys have been writing about the company for a long time now. It seems to me that for the first time people actually paid attention. I talked with one of the companies (think it was Penn Merchant); they were having a tough time with their reports and estimates-- really didn't seem to have the inside edge on the company like they should. I also watched ADSP shoot up this morning only for it to settle back down. Unfortunately, I do not have Bloomberg and cannot get the individual trades like you can-- thanks for the info on GKN selling this morning. This company has a great potential to hit the teens, just by selling off parts of their business like the ADSL. But potential has hardly been realized as management continues to push back the timetable on being profitable-- every quarter they say they will be profitable the next. They have never made good on the promise. They hold onto an ADSL unit that burns R&D money like you would not believe. They talk about wanting to and being able to the ADSL unit, only to make press releases that are really sales ads. Other times they say that the money offered just isn't enough for the unit and its people-- whatever the reason-- it has not been sold as promised. Whether open RAS will be able to sustain this company is anybody's best guess. I bought the company for the potential of a sell-off of units (for the sum of the parts to be greater than the whole) and said I would sell my shares only if I stopped believing this would happen. Well, today's the day I gave up and sold all but 100 of my shares. Hopefully this company will release its potential from actual sales of their products and by reducing their terribly high costs. If their products are as good as they make them out to be, they may even be taken over-- any way you cut it they would be much better without their current management playing these games and making promises that they can't keep. It hurts their company's reputation and more importantly the stock price. Good luck to all! Frank

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