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

To: WebDrone who wrote (9118)	6/18/1998 3:09:00 AM
From: MikeM54321	Read Replies (1) \| Respond to of 42804

Thread, Can any followers of MRVC help me with the following. I picked up some statements from their 10Q and 10K (in italics) and have some questions regarding them. There does not appear to be a lot of information put out by the company. So if anyone could help me out with my questions, it would be appreciated. ------------------------------------- Restructuring costs during the quarter ended March 31, 1998 were $23,194,000. The restructuring costs in the first quarter of 1998 were associated with a plan adopted by the Company in March, 1998 calling for the reduction of workforce, closing of certain facilities, elimination of particular product lines, settlement of distribution agreements and other costs. 1. Sales went from $48.4 million in Q4 97 to $60.8 million in Q1 98. This was a nice jump up, yet at the end of Q1 98, it appears they are reducing their workforce. Does anyone know if this is related to lower projected sales? It doesn't make sense to have such good growth and then a reduction in the workforce. Or is this related to laying off former Xyplex employees? ---------------------------------- Net cash used in operating activities for the quarter ended March 31, 1998 was $7,233,000. The funds were used primarily to purchase technology in progress and for restructuring costs in connection with the Xyplex Acquisition. 2. It wasn't clear if the Xyplex aquistion was strictly a purchase of R&D? Or did Xyplex add to Q1 sales? ----------------------------------- In September 1997, the Company completed a follow-on public offering of 2,785,000 shares of Common Stock raising net proceeds of $93,320,000 (the "1997 Public Offering"). 3. They raised quite of bit of money with this offering. Now if I'm not mistaken, they recently were going to do another but it got cancelled? I'm only gathering this from the comments on this thread. I haven't found it in "official" news out of the company. They do seem to be a little light on the PR side, as a lot of posters have indicated. ------------------------------------ The Company operates principally in four geographic areas: the United States, the European Community, the Pacific Rim and the Middle East. 4. My concern with the above is their exposure to the Pacific Rim. It appears roughly 13% of both sales and revenues came from the Pacific Rim region in 1997. For Q1 the total foreign sales increased. I forgot the amount and can't seem to find the figure now. My question is, has management said anything about their exposure to the Pacific Rim in relation to the current problems in that region? ------------------------------------ 5. There is nothing on their web site or press releases telling me who their customers are? Does anyone know specifically the companies they sell their product to? Thanks, MikeM(From Florida)

To: WebDrone who wrote (9118)	6/18/1998 5:43:00 AM
From: Richard Birecki	Respond to of 42804

Well, I agree on MRV's stock price. Man, let's just say they don't grow. They are on pace to earn about $1 a share (let's just say) for a PE of 20. IE.- 5% interest, PLUS the X # of dollars per share in cash sitting in the bank, plus assets, plus zero debt. Correct me if I am wrong, but what is Wrong here? As for the Bo Outlaw gag, it is an inside joke. In the past, I would have given anybody who got it big time points for intuitive thought, but this year it's next to impossible. Still, there are one or two of you who follow this thread who get it. Congrats on your PhD Richard Bo Outlaw is on the line

To: WebDrone who wrote (9118)	6/19/1998 6:47:00 AM
From: Jamuck	Read Replies (2) \| Respond to of 42804

Mergers. Article in the WWJ this morning made the Ericsson/COMS merger sound highly speculative, and that they are looking for smaller cap cos. [mrvc?]. something in the millions dollar range rather than the billions. a wood butcher