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Technology Stocks : Red Brick Systems
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To: J L Segal who wrote (207)4/17/1998 11:13:00 AM
From: Smilodon  Read Replies (2) of 304
 
Not sure if there is a replay.

I listened to the call. Unfortuneately, the call wasn't very good. While management was optimistic, their rapport with the callers was very poor. Some hostile questions and defensive answers from management. Looking at the revenue since they imploded in Q1 97, they have made a very nice turnaround, but they have done a horrible job of investor relations. Hence, we have a stock price near its historical low, even though the company seems to be executing a credible turnaround with growth, albeit at a much slower pace than before.

There also weren't a lot of questions asked. Good news is the stock is being really ignored, so there is probably not a lot of downside. Bad news is, it will take a while for the price to appreciate even if the company does well.

I really don't know what to do with this one. Price is great for the quality of technology in the company. I think they could easily sell it for much more than the current market cap. But management continues to fumble the simple process of communicating with investors. And the longer they wait, the more difficult it is to sell as potential buyers develop competing products.

No new fundamental news came out of the call. Basically things are proceeding as expected.

Sorry I don't have a better thesis.
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