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

To: Jeffrey L. Henken who wrote (2288)	11/6/1997 11:01:00 PM
From: Linda Kaplan	Read Replies (1) \| Respond to of 3431

Headline: Glenayre Technologies Closes Purchase Of Wireless Access ====================================================================== CHARLOTTE, N.C. -(Dow Jones)- Telecommunication-equipment maker Glenayre Technologies Inc. Thursday said it completed its buy of Wireless Access Inc. for about $82 million in cash and options to buy about 1.3 million Glenayre common shares. Glenayre (GEMS) said it will take a fourth-quarter pretax charge related to the write-off of purchased in-process research and development. For the fourth quarter ended Dec. 31, 1996, Glenayre reported net income of $16.7 million, or 27 cents a share, on sales of $104.2 million. A First Call survey of 10 analysts predicts fourth-quarter earnings of 20 cents a share for Glenayre. Former Wireless Access optionholders will have options to buy about 2% of Glenayre common stock on a fully diluted basis. Copyright (c) 1997 Dow Jones & Company, Inc. All Rights Reserved.