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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Alan Siegal who wrote (11242)	1/16/1998 8:50:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 12298

APM: NATNBK MONT.SEC decreased estimate for fiscal year ending 09/98 from $-0.82 to $-4.36 on 01/14/98 APM: NATNBK MONT.SEC made new estimate for quarter ending 03/98 of $-1.02 on 01/14/98

To: Alan Siegal who wrote (11242)	1/16/1998 11:27:00 AM
From: appro	Respond to of 12298

>>What I want to know is whether the current management is related to the people who ran the firm in 1994.<< Alan, Craig Crisman, the current CEO, was brought in a couple of years back on a management consultment team to advise the old management re salvaging the dying company. I read these details in the management compensation background in one of the most recent company reports at EDGAR. I am not sure the exact location but this link may help you find more...http://www.freeedgar.com/

To: Alan Siegal who wrote (11242)	1/16/1998 12:20:00 PM
From: Donald Isenhower	Respond to of 12298

Alan: <<Gee, I didn't realize I had expressed an opinion! Must be that ol' subconscious wishful thinking oozing out in my typing. >> Naw, just the usual email picking up on the reader's own wishes and moods; and the wrong choice of words in my reply. :-) What I was intending to refer to as "your opinion" was just that one needed to be aware that this was not the first time APM has been in a similar crunch. In answer to your question, Crisman was brought in during the restructuring done to bring APM out of the mess in 94. So current management is different from the pre-94 era as far as the top man goes, so you can decide for yourself if that is positive or negative. I don't think I would buy APM right now since I don't see as clear of a recovery path as they had in the 94-95 era. The main reason I am wondering about my sanity for keeping APM is the addition of IBM, SEG, TDK, et al. into the disk head component business in a more agressive manner than before 1996-97. In their business it is easy to make a miscalculation and someone like IBM could absorb the entire sales of a smaller company like APM and go on without much damage. What I don't understand is how much would companies like WDC want to be in the spot of having to buy their heads from their competitors rather than independents like APM and RDRT? Final comment on management: I primarily am cautious about current APM management for something reported previously on this thread. An analyst named Fox from Montgomery Sec. did a good job of forcasting the problems seen in the summer and fall of APM (he was decidedly bearish compared to most others). He was predicting "yield problems" and these were confirmed to have been occurring last spring when APM reported in the summer; however, you didn't hear one word out of APM before their 10Q report. So you won't get information out of management on things when problems are encountered, only later when they report on the previous quarter. This wouldn't bug me as much except that Mont.S. was handling the infamous RDRT takeover in about the same time frame! So you are making your buy/sell decisions with little to no current information from APM. Donald