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Technology Stocks : Spectrum Signal Processing (SSPI)
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To: WTSherman who wrote (2211)2/11/1999 12:11:00 AM
From: ECAC Hockey  Read Replies (2) of 4400
 
WTSherman I share your sentiments 100% and know of more than a few other investors who are also very steamed over the juvenile nature of Monday's release.

I too have averaged down a bit this week and remain as optimistic as ever on SSPIF's prospects going forward, but cannot agree with the consensus here on SI that this 'deferral' is a complete non-event. I can live with the company not meeting estimates, but for them to blame changed accounting standards on the shortfall is pathetic and amateur. A professional 'earnings warning' would have simply cited the 'fact' that certain orders were delayed into q1. As a 4+ year investor in this company, I was very embarrassed for them to hear them use these petty excuses, particularly their open admittance of not being up to date on the newly implemented US accounting standards. The company goes to great lengths to treat its customers with the utmost of respect and professionalism ... and is doing itself an injustice to lower its standards with respect to shareholder PR/IR. A company with Spectrum's growth prospects should be trading at several times today's price level. Competitor BWSI has near identical financials as SSPIF, less prospects for growth than SSPIF, and yet commands a market cap 2.5x that of SSPIF
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