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Technology Stocks : GTI Corporation (GGTI) -- Ignore unavailable to you. Want to Upgrade?

To: IAP who wrote (15)	2/12/1998 1:52:00 AM
From: uu	Read Replies (1) \| Respond to of 18

Can someone please explain what is wrong with this picture: GGTI has a book value of $6.38/shr and yet the current stock price is at around $4.75/shr. The stock is selling at 0.38 times the revenue. The company has only about 8 million outstanding shares and seems to have gone under a major restructuring thus decreasing its losses by 75% (according to last earnings report). It still, however, shows a decline in revenue (8% according to the last earnings report). Does market think this company can not possibly survive and thus discounting the price to reflect some sort of anticipated dramatic drop in the book value of the company? Or is it simply being ignored?! Regards, Addi Jamshidi