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Technology Stocks : Read-Rite

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To: Dennis R. Duke who wrote (3296)	5/23/1998 4:39:00 PM
From: Tom Simpson	Read Replies (2) of 5058

>BTW, if this quarter is breakeven or better...... or if they win the lottery...... C'mon Dennis. Where are they going to generate the pop in revenue it would take to breakeven this quarter? Good grief, sales are down 40% over the last 2 quarters. What "calculation" are you basing breakeven on? The trouble with "book value" is that it is a moving target....as you lose money, it keeps dropping. Further the bond holders have half of the present book locked up, leaving the full current loss exposure to what is left over for common stock. At the moment your paying 9 bucks to buy about 4-5 bucks of net assets which are still shrinking. Until you can "calculate" a basis for expansion instead of shrinkage, it hardly makes sense to buy in. Best Regards.....Tom

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