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Technology Stocks : Pomeroy Computer Resources
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To: mark bailey who wrote (166)8/19/1998 2:33:00 PM
From: Christopher Brainard  Read Replies (1) of 181
 
Hi Mark, I did get through to the company and talked with Addie Rosenthal. She basically told me what I already knew. During the conference call the company said they were planning to double the size of their computer services sales force. This means adding about 20 new sales people. Some folks apparently thought the company was going to double their entire sales force. Secondly, the company said they were having trouble getting all the computers they need from their suppliers (especially IBM). I have heard/read stories that certain computers (266 meghz) were in very short supply. Apparently it is these mid speed computers that companies want to buy, but the manufactures are producing lots of higher speed 400 meghz machines. Prices for equipment are also falling faster than the normal 25% per year. Last quarter selling prices fell by 11% alone. These two factors led the company to say that 3rd quarter EPS would grow ONLY 10% from the 2nd quarter $0.42. This means that the 3rd quarter should come in around $0.46, a penny short of the current estimates.

So basically for one damn penny they have wacked the stock by over $7. Addie said she felt the meltdown was totally crazy (my words) and that she had bought some stock on Friday.

It looks like this is a move based totally on FEAR of what might happen in the future. I am looking to the track record of this company as my guide as to whether to run in fear or buy in confidence.

I am buying in confidence!

Chris ...
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