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

To: signist who wrote (11751)	1/26/1999 11:11:00 AM
From: Robert G. Harrell	Read Replies (1) \| Respond to of 42804

John, You can thank me for the nice news and price rise. I sold 27% of my holdings at the open for 8 1/4. Admittedly, these were shares I got for 6 3/16 but I apparently will have left a lot on the table if these announcements are a major breakthrough. Can any of you techies analyze these releases? Is this something new or products we already knew were coming? <<OT>> If any of you have time to burn and want to investigate a possible bargain, I would appreciate your opinions on ABH. I lost a nice piece of change (nothing like what I lost on MRVC) when they announced accounting irregularities. They have announced that a preliminary investigation shows a 10% overstatement of earnings for '96 and '97. I've never seen the vultures line up to sue like they did on this one. There were 4 announcements the same day the irregularities were announced and many more have since joined the flock. The stock was halted yesterday and is now open with no trades when I last looked but bidding was 1 x 1 3/4. This seems unbelievably low. The company reported EPS of $0.55 for '97, $0.35 for '96 and $0.37 for '96. Estimates for '98 were $0.91. If you knock off 10% you get $0.495 for '97, $0.315 for '96 and $0.82 est for '98. Unless the lawsuits can eat up most of the profits for years to come, I can't understand this extremely low valuation. Cendant wasn't hammered any where near this much. Opinions anyone? I'm not trying to tout this stock. Just soliciting the opinions of people who have learned in the school of hard knocks to evaluate blowups closely. Bob