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Technology Stocks : SmartFlex Systems (SFLX) - Blitzkrieg or Sitzkrieg? -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (715)	10/13/1998 6:28:00 PM
From: rich evans	Read Replies (1) \| Respond to of 848

Another bad quarter businesswise. Part of revenue reduction is do to higher consignment sales according to cc.Best thing about this company is its asset management. Still a great balance sheet. But operating right now at breakeven. Looking for more top line growth obviously and see rev growth in Q4 but would not comment on how much. Backlog standing only at 22.4 mill right now. Trying to diversify out of storage and also with IBM deal which is not not flex but precision assembly they are trying to broaden business.Could see 7- 10 mill in revs annually from it. It is a cost plus operation to start until they learn operation.They are confident that they have seen the bottom but unsure of how quickly the rebound will be. Samsung business was put on hold and was a top 5. Part of ASIAN problem I guess. Hopefully Logic Engineering Acquisition will give them ability to do more for customer in design and get business. They do RF and Medtronics product design. Paid 2.3 mill in cash for it. This stock will take more time to realize its potential value IMO, a lot more time. Rich