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Technology Stocks : PROGRAMMER'S PARADISE (PROG) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (2232)	8/10/2000 10:09:04 PM
From: Carl R.	Respond to of 2383

Actually Zeev they sold the European operations for nearly the entire market cap of the company. Not bad for a poorly run, shrinking, money-losing problem child far from home. As you recall, the domestic operation is growing, and has much better margins (it accounts for 43% of gross margin). As a growing, high margin business that is (presumably) profitable, PROG should be able to get another $12-16 million for that, I would think. That would give them a cash position of about $6 a share, plus some investments in PC-Ware and Healy-Hudson. The market is clearly indicating little downside risk in PROG at the current time. Even the earnings warning couldn't move the stock down much. I think in time this one will move back to $5-7. That should raise the IEI a bit. LOL Carl