The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: JakeStraw who wrote (13690)	2/18/1999 11:12:00 AM
From: R.E.B.	Read Replies (3) of 90042

My reasons for FORE going down are several: The gross margins of FORE have gone down, not much, but they have gone down notwithstanding the one-time government contract. There is no guarantee that present margins can be maintained. FORE is a small player in a highly competitive field and pricing pressures may affect future margins. FORE is facing a possible restatement of their Sept '98 and Dec '98 financial statements due to the accounting treatment of their purchased R & D from Berkeley. Such a restatement will affect the two quarters and will impact future earnings. Earnings are already flat over the year ago quarter. There remains an additional exposure of 22 million to be paid to former equity holders of Berkeley... this merger sure is getting expensive. More if you want it.....

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