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Non-Tech : soc-sunbeam -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (371)	8/12/1999 10:56:00 AM
From: John S. Baker	Read Replies (2) \| Respond to of 407

You two are not the only ... I'm still around. I'm a bottom fisher, who seeks to use technical indicators to time the proper moment to buy into turnaround situations. SOC is very confusing, having sent several false alarms. FWIW, I am not yet buying SOC heavily. JSb

To: tejek who wrote (371)	8/12/1999 11:10:00 AM
From: Marty Rubin	Read Replies (1) \| Respond to of 407

ted, i got it from wsj.com. it's actually the 10th news (rather than 9th) from top. I normally get the paper on 10:30PM (Pacific Time) on Sunday (Monday's paper) and 1-2AM the other days. Mr. Wind (LOL!) aka Marty I'll post the article on next post. I want to start a new thread because the current one has chainsaw on the opening page. i like the guy. i think he made a mistake. but he's not in charge now and the subject should state that. Also, I want to post some past article and why i think we are @ bottom or very near. what i'm afraid, in general, is the state of the economy. if interest rates rise and stock market fall (or at least doesn't match investor's expectations of high-very high returns) consumer spending will slow. What really stroke me is that this company will change operation to meet demand, in this case generators. This means the company is flexible to change, and will do anything to improve. this is good management.

To: tejek who wrote (371)	8/12/1999 11:15:00 AM
From: Marty Rubin	Read Replies (1) \| Respond to of 407

here's wsj article A4. August 12, 1999 -------------------------------------------------------------------------------- Sunbeam Loss Narrowed in Quarter To $47 Million on 14% Rise in Sales By MARTHA BRANNIGAN Staff Reporter of THE WALL STREET JOURNAL Sunbeam Corp., weighed down by a heavy debt service and high overhead, reported a second-quarter net loss of $47 million, or 47 cents a share. The manufacturer of household consumer products and camping goods reported sales rose 14% to $661 million from $578 million in the year-ago quarter, when heavy customer inventories stymied sales. Sunbeam managed to narrow its loss substantially from the year-earlier quarter, when it had a loss of $344 million, or $3.41 a share, including a one-time charge of $103 million, or $1.02 a share, related to early retirement of debt. Sunbeam said its cash flow improved significantly in the latest quarter. The company generated $23 million from cash flow, compared with a drain of $83 million a year ago. Earnings before income tax, depreciation and amortization amounted to $44 million, compared with a loss of $164 million. Sunbeam shares jumped 37.5 cents, or 6.3%, to $6.3125 in New York Stock Exchange composite trading Wednesday. Sunbeam said it expects by the end of 1999 to have worked off the glut of inventory generated under the lofty growth projections of prior management. Sunbeam still faces the challenge of some $2.3 billion in debt, most of which was loaded onto its balance sheet during an acquisition spree by Albert J. Dunlap, the former chief executive officer who was fired by the board in June 1998. Interest expense in the second quarter totaled $45 million. In an interview, Jerry W. Levin, chairman and CEO of Sunbeam, which is based in Boca Raton, Fla., said management is evaluating various units with an eye toward selling one or more. He said the likely result would be to use part of the proceeds of any unit sale to reduce debt and the rest to acquire other operations that fit strategically. "We are too diverse for my taste, with too many businesses to effectively manage," Mr. Levin said. "I would like to narrow that." Excess inventory has forced the company to curtail production levels at its plants, cutting into productivity. However, Mr. Levin said Sunbeam has been tackling the problem by, among other things, shifting work among its plants. With Coleman generators in strong demand because of concerns over possible year-2000 related electrical outages, for instance, Sunbeam is making generators at a barbecue-grill plant in Neosho, Mo. "The bottom line is their predecessors left them with a bunch of problems, including the capital structure," said Justin Maurer, an analyst with McDonald Investments in Cleveland. "They took on way too much debt, and they're in a terrible pickle." Copyright © 1999 Dow Jones & Company, Inc. All Rights Reserved.