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Technology Stocks : FirstWave Technologies (FSTW)
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To: Garet Juntunen who wrote (127)7/29/1998 4:27:00 PM
From: Amsterdam  Read Replies (2) of 9677
 
<<The loss came from the Co-Cam acquisition and the substantial expenditures on Netgain. >>

There was no reason they had to take a loss on Co-Cam. That's bad management when a money losing company is making money losing acquisitions. For those who've been on this thread since that acquisition was made, they (and I belive Roger too?) was predicting that Co-Cam would be immediately accretive to earnings. Since Co-Cam was just a distributor, FSTW could have cancelled their contract for poor performance and sold the distribution rights to another UK company for a profit.

Also, a few hundred thousand dollars of Netgain revenue in Q3 is much weaker than we would have expected given the guidance in Q1. This company better start executing.
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