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Technology Stocks : Open Text

OTEX 33.67

-1.8%

Nov 14 9:30 AM EST

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To: Brian Fuller who wrote (306)	2/1/1997 4:33:00 AM
From: Gary105	of 1195

Yes. G&A expenses grew about 15% since last quarter. If they were serious about profitability they would stabilize/hold these costs, and only grow R&D and sales expenses by half the amount of gross margin growth. My concern is that they grow to $100 M in sales because of a great product and are not profitable because they have a fat and happy management team that cares little for shareholders. I will e-mail my concerns to them. Are you aware of the name and e-mail address of any organization that owns a large stake in otexf - I may mail my concerns to them too.

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