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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (89757)	3/28/2000 1:46:00 PM
From: HandsOn	Respond to of 108040

PASA just needs a little buying to break 6 3/4. This one moves quickly when some volume hits it. I have played it 3 times from this level in the past.

To: westpacific who wrote (89757)	3/28/2000 1:48:00 PM
From: nick stalin	Respond to of 108040

Waiting for the other underwriters to step in. Got some in the $50's.

To: westpacific who wrote (89757)	3/28/2000 1:55:00 PM
From: Mr. Fortune	Respond to of 108040

ASIA-- i though the QP didnt end till later this week? Anyways.. I dont see any coverage from any brokerage anywhere?? Do you have a link to the one you are talking about? Thanks

To: westpacific who wrote (89757)	3/28/2000 1:59:00 PM
From: vagabond	Respond to of 108040

Re PCTH: This item was just posted on RB thread, supposedly a news-release from Standard & Poor (not sure of original source-site). Doesn't sound good, probably explains today's drop in price... EDIT: Just saw a Reuters headline, confirming this info... ================== NEW YORK, March 28 - Standard & Poor's today lowered its ratings on Pacific Aerospace & Electronics Inc. (see list below). The ratings are removed from CreditWatch, where they were placed on Jan. 21, 2000, with negative implications. The current outlook is negative. The ratings action reflects Standard & Poor's expectations for very weak earnings and cash flow measures at Wenatchee, Wash.-based Pacific Aerospace due to reduced aerospace industry demand. The commercial aerospace sector may remain soft for an extended period, and the company has only modest financial staying power due to substantial debt. In the second quarter of fiscal 2000, ended Nov. 30, 1999, earnings before interest, taxes, depreciation, and amortization (EBITDA) coverage of interest expense was a slender 1.3 times, and the company lost $2.0 million on $29 million revenues. This is a continuation of profit problems that began in fiscal 1999, because major customers in the U.S. and Europe have slowed purchases to balance production schedules. At Nov. 30, 1999, debt to total capital was high, in the 70% area adjusted for operating leases, on a $50 million equity base. The company has two bank lines, aggregating a modest $12 million, and $5.6 million had been drawn at that time. Pacific Aerospace serves aerospace, defense, electronics, and transportation markets. The company manufactures aircraft parts (in nacelles, bulkheads, ducts, and cockpits) and skin panels, truck parts, electronic connectors and assemblies, and relays and solenoids. Revenues and internal cash generation are sensitive to the cyclicality of markets served. Most sales are to the commercial aerospace and defense industries. The company's top four customers accounted for 33% of sales in fiscal 1999. Market and customer diversity is well below average, and near-term demand prospects remain difficult in commercial aerospace. OUTLOOK: NEGATIVE Management has cut costs and is working to bolster liquidity near term. However, should aerospace demand remain at current depressed levels, financial flexibility could further deteriorate, leading to lower credit ratings, Standard & Poor's said. RATINGS LOWERED AND REMOVED FROM CREDITWATCH Ratings Pacific Aerospace & Electronics Inc. To-From Corporate credit rating to B- from B Subordinated debt to CCC from CCC+