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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Seth Leyton who wrote (7957)	3/30/1998 11:38:00 AM
From: Claude Edelson	Respond to of 42804

Selling?

To: Seth Leyton who wrote (7957)	3/30/1998 11:47:00 AM
From: Greg h2o	Read Replies (1) \| Respond to of 42804

MRV Communications Inc(MRVC) NEUTRAL GEARS Robert Gay March 20, 1998 Synopsis MRV Communications Inc(MRVC) NEUTRAL The current positive indications are: - depressed valuation Negative indications are: - sales growth, low and down - higher receivables - falling gross margin - higher inventories Who the hell is he?<G>

To: Seth Leyton who wrote (7957)	3/30/1998 12:20:00 PM
From: Greg h2o	Read Replies (1) \| Respond to of 42804

MRV Communications Inc(MRVC) SELL-- GEAR The current sell decision is based on: - sales growth, low and down - higher receivables - falling gross margin - higher inventories Monday, March 2, 1998: The shares of MRV Communications Inc have advanced by 26% relative to the S&P index since the January, 1998 low. Current relative price-to-sales is at the lower-end of the range in the record of the company. Our November, 1997 buy decision was based on lower receivables, low and rising gross margin and lower inventories. Currently, sales growth is very high but lower than last quarter and failing the rising sales growth test. Receivables are up, diminishing the chance of a further increase in sales growth. The company is recording a falling gross margin. Inventories are up, diminishing the chance of a further increase in the gross margin. SG&A expenses are low in the record of the company and rising. That implies that the company has limited scope for further cost containment and rising costs are slowing the EBITDA growth rate relative to sales. Lower gross margins and higher SG&A expenses are producing a deceleration in EBITDA relative to sales.