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Technology Stocks : SSA (SSAX) BPCS/Client Server
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To: IngotWeTrust who wrote (803)5/28/1998 9:59:00 AM
From: MAURICE J. SADOWSKY  Read Replies (2) of 915
 
Will have to listen to the conference call again today to confirm my reading of what was not said--so this is an opinion:

1. Costs were stated to be out of line with revenue--I think there will be a continuing major restructuring of the company with staff cuts.
It is a labor intensive company--so if you cut costs--you cut people.

2. I believe I heard Zimmerman fudge quiet a bit on special charges for the third quarter--said he did not know what they would be but said it in a way that leads me to believe that there will be special charges in Q3.

3. Projection for the Q3 may be another loss--they kept saying things like profitability in fiscal 1999--well that is a long way away.

4. First time they stated that they do not really know what the installed base is--loss due to mergers, loss to competitors, etc.

5. Competitors targeting SSAX customer base because they can get sales against an ineffective organization

Putting a good face on it as management did--they have a lot of work cut out for themselves and to their credit they admited the problems and seem to have developed a plan--which will not be reported to shareholders but to analysts at a private meeting on Jul. 09--

That is not acceptable--if they are going to report to analysts in a private meeting on corporate affairs--then they better figure out how to inform the small shareholders.

Maurice
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