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Technology Stocks : ORFR-ORBIT/FR

ORFR 3.500

0.0%

Apr 10 5:00 PM EST

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To: Andrew Furst who wrote (396)	5/4/1998 10:14:00 PM
From: Louis Cornell	Read Replies (1) of 475

I would say "cost containment" is an understatement, with 45.5% gross margins, despite short term weakness in sales. This is one of the strengths which attracted me to this investment: cost control. This company has good corporate management, and will be well positioned financially for the second half - good cash flow, no LT debt, smart acquisitions, and most importantly, profitable. It's difficult to be pessimistic if you see the "slump" as a short term event and the way the company is being managed. From the press release: "We are starting to see bookings from Asia and a resumption of programs in the domestic markets." Looking forward to the conference call. regards, Louis

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