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Technology Stocks : PRI Automation (PRIA)
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To: Beltropolis Boy who wrote (498)9/16/1998 8:41:00 AM
From: Paul Getman  Read Replies (3) of 1214
 
Could this be the bottom?

The Street.Com reports today that PRI had investors at the NationsBanc Montgomery Investment Conference "on the edge of their seats" with a "glimmer" of good news. Tyson told fund managers that he is now seeing a stabilization of orders, albeit at a low level. The article goes on to note that PRI is usually hit earlier than the rest of the sector and usually recovers earlier as well, so this may be a sign that the sector is bottoming out. More significantly, customers are asking PRI for quotes and proposals for equipment needed for foundries. The article speculates that this is for players in niche markets.

I remember Tyson saying on PRI's last conference call that quote activity had picked up. One of the analysts asked him if customers usually just sought quotes "for the heck of it" and he said they didn't--but at that point, he didn't have any orders, either. Perhaps the orders are now coming in.

Paul
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