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Technology Stocks : CMIC- CALIFORNIA MICROWAVE

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To: TheLineMan who wrote (35)	2/12/1997 9:03:00 PM
From: Jolly Roger	of 67

Mr. Weicht: Best part of the press release was cutting the workforce by 20%; CMIC had net margins of 1% or under over the past few years. Deadwood, bloat and waste nearly suffocated this company in the Otto era. Closing unprofitable operations sounded great also. Now CMIC needs a tough cost conscious CEO to crack the whip. I also noticed that receivables and inventories are down, that is great too. Wall Street will like this belt tightening. May get analyst upgrades to take stock to $20 if the CEO choice is well received. $2 per share seems like a dream after the last year and a half. Good luck. Jolly Roger

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