Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play? -- Ignore unavailable to you. Want to Upgrade?

To: StkProfit$ who wrote (3333)	7/25/2000 9:02:47 PM
From: Chisy	Read Replies (1) \| Respond to of 3431

streetadvisor.com Glenayre Glows with Gains Kenneth A. Toudouze, CFA Jul 25 2000 Glenayre Technologies [GEMS] reported its 2Q earnings today and beat consensus estimates. Earnings per share (EPS) were equal to $0.02 and net sales were $56.7 million, up 6 percent from $53.5 million a year ago. This is further evidence that Glenayre continues its company turnaround, and while it is taking longer than expected, I retain my buy rating on the stock. While the sale of Enhances Services Platform (ESP) products reached record levels this quarter, wireless messaging sales were down 14 percent. Eric Doggett, President and CEO, addressed this issue by saying, “Sales in the wireless products area were a little slower than originally anticipated, mainly driven by the fact that most of the US two-way operators are planning their ‘hard’ two-way market launches for the third quarter.” This should mean a stronger than expected third quarter for the company, as many of the orders booked in in 2Q are for sales in the second half of the year. This latest quarter has also seen quite a bit of expansion for the company in both the ESP space and the wireless infrastructure. Some major ESP moves for the company include the purchase of 6.5 percent of Multi-Link Telecom, which provides voice messaging services and a distribution agreement in China. The company also revamped some of its management team, with several new faces in key executive positions. This fact, combined with a strong balance sheet, and bright outlook for the second half of the year should mean very high growth for the company in the next year. FWD this page to: Glenayre Technologies NASDAQ: GEMS Associated Sectors: Communications