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To: GARY P GROBBEL who wrote (6858)	1/21/2003 12:30:25 PM
From: GARY P GROBBEL	Respond to of 120405

LOGC in Acker letter: LOW-PRICED STOCKS: "We think LOGIC DEVICES (LOGC) is undervalued, underfollowed and just plain cheap. Despite having maintained its Nasdaq listing and posting a profitable fourth quarter, LOGC continues to trade in a range which approximates roughly half of its per-share book value. Logic Devices is a semiconductor manufacturer which provides high-performance, function-specific integrated circuits that are used in smart weapons systems and in broadcast studio, medical imaging and digital telecommunications equipment. "We've made money with LOGC in the past by buying when the stock was out of favor, and seemed undervalued relative to book and earnings potential. Late last year the firm reported a return to profitability in 2002's fourth quarter, booking EPS (earnings per share) of 1 cent on sales of $1.88 million. LOGC's fourth-quarter performance was the best of the year, and sales have increased progressively since the low point of the second quarter. Plus, LOGC has an exceptional balance sheet, with a current ratio of 47-to-1 and about 44 cents per share in cash. Lastly, insiders have been buying, with President Volz acquiring 170,900 shares since mid-September of 2002. Buy." -- Bob Acker, The Acker Letter (www.ackerletter.com, 12 issues/$180)