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Technology Stocks : GenRad Inc.(GEN) entering the ADSL market! -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (234)	4/22/1998 12:09:00 AM
From: Jack Be Quick	Read Replies (1) \| Respond to of 283

Keith, My thought, fwiw, is that even if the actual results were not that bad (i.e. a temporary phenomenon), they have surprised and pissed off a lot of investors big time by the way they sprung the news without warning. The best possible light, that they simply didn't know that the results would be this bad, is in some ways the worst possible light, i.e. they do not have adequate management systems. And if they did know, why on earth - with every other tech company warning about slowdowns due to the Asia situation, etc. - would they not have simply slipped a warning into the general stream of early warnings? Did they think no one would ever find out? Did they think no one would notice or think much of it when they did announce? Did they merely wish to surprise and embarrass whatever analysts and fund managers do follow the company? My initial thought was to hang on and wait for things to turn around, but I am wavering. Has anyone heard any credible explanation of why these earnings should have come as a surprise (e.g. last minute cancellation of a major shipment)? The more I think about it, the more annoyed I get. Maybe someone else has some cheerier thoughts. John

To: LemonHead who wrote (234)	4/26/1998 3:43:00 PM
From: TomOrt	Respond to of 283

Friday April 24, 9:27 pm Eastern Time Class action lawsuit filed against GenRad BOSTON, April 24 (Reuters) - Some investors filed a lawsuit against electronic systems provider GenRad Inc of Westford, Mass. and its chief executive on Friday claiming the company lied and mislead them. The suit, which sought class action status, was filed in the U.S. District Court in Boston on Friday. The plaintiffs, investors in a Nevada-based limited partnership named Duck Enterprises, said in court papers that GenRad President and Chief Executive Officer James Lyons expressed confidence in the company's annual report released in January that the firm would maintain its revenue and earnings growth in 1998. GenRad's stock plunged 40 percent last Friday after the firm stunned Wall Street with first-quarter earnings that fell well below analysts' expectations. The investors were seeking unspecified damages in the lawsuit. A GenRad spokesman said Friday, ''We've not been served and our attorneys have not been served with the suit, so we don't know anything about it.'' In February, Lyons told analysts GenRad would earn no less than $1.50 a share in 1998, the court papers said. The investors also cited a Feb 23 Securities and Exchange Commission filing in which the company said it expected a backlog of inventory to be turned into revenues by the end of March 1998. Apparently that did not materialize and the company reported it earned $0.05 per diluted share, excluding a net deferred tax benefit, in its first quarter, compared with $0.23 a share in the year-earlier period. It was far below analysts expectations. GenRad attributed the income shortfall to a shift in product mix, lower productivity and higher operating costs. -------------------------------------------------------------------------------- More Quotes and News: Genrad Inc (NYSE:GEN - news) F.W.I.W. I see gen. going to at least 15.00, and maby it will go as low as 12.00 ( A screaming BUY! ) TomOrt