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Technology Stocks : ADE Corp. -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (327)	6/30/1999 7:14:00 AM
From: robert b furman	Read Replies (1) \| Respond to of 346

Bruce, Earnings are out . Adjustments of all sorts: obsolete parts,restructuring,acquisition blue sky - you name they wrote it off.Of course when it comes to paying taxes on assets that aren't generating a return that's what good management should do. New book value = 9.22 / share ( stockholders equity/shares outstanding) Backlog up to 20. million vs 15 This is key to turnaround and is the positive spin. Management is very non-committal on the next 2 Qtrs ( as is all management in this sector) Continued expenditures on R&D for next generation of equipment and the cash to do it with! This IS KEY!! 300 mm wafer expansion is now visible rather than questionable and thats better than its been for the last two years. All in all a mixed bag. I've seen this kind of news kill and I've seen this kind of news push a stock up . I just kind of feel neutral. Last but not least the price of the stock relies on the ownership and how it has been trading - this I think is the strongest aspect of ADEX. My take on the trading activity is it is now in stronger hands than it has been in a long time. It is always darkest before dawn and I think I see the sun's rays bouncing off the clouds on the horizon. Holding long and confident - no surprise here - this baby is a laggard and I'm not paying a 50% premium on it. Adex remains one of the few laggards that is financially strong enough to make it thru this downturn and rise with the tide of the semi equip leadership ( which IMHO is upon us ie AMAT KLAC COHU NVLS and TER)) Sure is quiet on this thread ( that's also good ) Bob