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

To: Timothy P. Ainge who wrote (2416)	12/28/1997 5:07:00 PM
From: Jyoti sharma	Respond to of 3431

Timothy I share your concern of Asian risk in this stock. However the stock price already reflects it. Two insiders made small purchase in early Nov around 11. Gems is now selling 1 1/2 times sales and slightly above book value. Short term the stock may go down with the general market. Long term GEMS will do well. I bot this stock last april and sold in Aug. Do you have a guess of their Dec quarter earnings? Good investing Jyoti

To: Timothy P. Ainge who wrote (2416)	12/29/1997 9:29:00 AM
From: jim detwiler	Read Replies (3) \| Respond to of 3431

ú We expect Glenayre's Dec. quarter to be in-line with our estimate of $0.13 EPS on $106.8M revenue, before acquisition expenses. ú The Company is in the process of integrating the recently acquired Wireless Access and ODC businesses, and divesting of its wireless interconnect business (Western Multiplex). We view these moves as strategically positive, but believe there exist execution hurdles. ú We project the Wireless Access and ODC acquisitions will initially be dilutive, but will become accretive by the end of 1998. ú International opportunities remain strong, though this business generally has lower margins. We expect weakness to persist for core domestic one-way infrastructure.