VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Chisy who wrote (8213)	2/12/1999 11:19:00 AM
From: lws	Read Replies (2) of 27311

wm & Rich, Thanks for the CC tip & phone number. I plan to listen. Vis the 10Q: he said to watch for clues. Has anyone noticed anything? I'm still working through the numbers, and I'm not an accountant, but I have the general impression that spending rose considerably compared to the year-earlier quarter ($7.8m vs 4.9), and even to the 2 earlier quarters of 1998 (their average: $5.5m). The impression is confirmed in the sharp rise of per share losses from $.21 to .44 year over year. It is useful to recall that Lev came in (I think) December, 1997, so in a way the numbers may give some hint of how Lev's redirected the company and how it's been doing under his regimen. The problem is that the categories of spending (property, plant & equipment, and wages) I would like to know are buried in "net" figures. So are there any useable clues in these numbers beyond the general observation that they're spending more? I hope someone with more analytical horsepower can pull these numbers apart for us. lws PS Am still working on my Henderson, and post-Henderson thoughts. Now I might have to include the CC, but they'll be out soon. I want to talk about how we shareholders now stand as I see it.

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