This is Bill from Portland
On 2/13/98 Techtronics filed a schedule 13G/A showing a little over 490,000 shares remaining. Around 2/17 20th Century Fund filed a 13G showing 0 shares remaining.
I talked to Brian Turner CFO-Radisys- for quite awhile about several things especially this recent stock decline that has been very disturbing to me. Without trying to add any of my own personal "color" to the conversation I will say that he didn't seem terribly worried about the recent stock performance. He said that this is a "quiet" period before earnings reports so I didn't get the pep talk I was looking for. He offered that there has been a lot of worry about certain Hi-Tech sectors recently particularly on the internet that could be influencing the stock. I said great but Wind SYS, SBS tech, and other companies in this sector are not getting hit like RSYS. Response--"Maybe this is just our week"
Discussion about Techtronics--Tech was an original venture capitalist for RSYS back in '86. Since the IPO they have been on a steady divestiture of RSYS stock every quarter to span a three year period. They usually sell in the 2nd month of our quarter but can sell anytime and any amount. In looking at Microsoft Investor Insider trading--Tech has listed "planned sales" for the rest of their ownership with planned "sell dates" that have already past. I interpret this as just a "plan" that may not have occurred. If it has, then it must show up in a 13G or 13D within the next quarter and show up in a "form 4" filing of transactions completed. Anyway the idea I got was that Tech. is selling on a regular basis and that they are going for 100% liquidation without any speculation of whether RSYS is going to $150/share or not.
I think Jay's idea about "Funds" dumping this quarter's losers before March 31st might be a good one.
In addition, despite all the things we talked about, sometimes it is how a company exec. responds to your questions that is the most revealing, rather than what he says. I have thought for some time now that Microsoft would be very smart to ensure the future of the small and vulnerable RSYS to project the use of Windows NT and the adaption of NT into a real-time OS that RSYS uses for it's X-86 platforms into the embedded computer market. This is a user "familiar" operating system that contrasts with Motorola's very proprietary OS's that I believe take lot's of expensive training to learn and are not very cross-adaptable. Microsoft, I feel, needs to have a major arterial into this expansive and important market, especially with the possibility of a contracting PC market. At any rate, when I said that what RSYS really needs is a major endorsement of a Microsoft via announcement of some kind of ownership of RSYS by Microsoft.----Silence----- |
