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To: bill who wrote (1619)7/31/1997 10:18:00 AM
From: Michael Kim
   of 2601
 
Well, seems like DG kept his end of the bargain for Q2. Too bad it wasn't good enough for the street. I hope we don't end up giving back all of our pop from yesterday.

I really can't figure this out, the press release was well-worded with respect to isolating the effects of the UK restructuring on the numbers. Ignoring the impact of this, we are at -.64/share for Q2. This is excellent, better than most of us expected, on top of record revenues.

We'll see how the day goes...

MK

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To: Michael Kim who wrote (1620)7/31/1997 10:35:00 AM
From: david thor
   of 2601
 
< I hope we don't end up giving back all of our pop from yesterday.>

Well,

I'm not selling. I feel so out of place with the short-term mentality...! Did you follow BBN at the end of their final quarter as an independent company? The stock price ran up and fell after earnings. However, their earnings were worse than expected (as I recall). The price recovered after the initial hit. Netcom will be alright, the stock price is reflecting this even if it finishes down today. PSInet's OK too, I don't have anything invested in them, but their stock's all over the place lately, too, and I think they're a good little company.

That's the way investing is today, I guess. Nothing's a sure thing, nothing's stable.

Take care - Dave

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To: david thor who wrote (1621)7/31/1997 5:46:00 PM
From: Michael Kim
   of 2601
 
According to my broker, Bloomberg has a blurb about NETC's fall today being related to the company reporting that Q3 revenues would be flat as the company transitions from consumer to business customers. Revenue growth is expected to resume in Q4.

Anyone got any word on the conf. call this morning?

MK

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To: Michael Kim who wrote (1622)7/31/1997 7:26:00 PM
From: Michael Kim
   of 2601
 
C-Net story on NETC earnings:

news.com 

Haven't seen much else out there yet. If anyone has Bloomberg, I'd appreciate highlights of today's NETC blurb. I'm feeling good on the long side, unfortunately, I'd like to get out in the short term. Looks like I'm going to have to hang on through Q4. I'm thinking now that we could see a drift back down to 14's, then a climb again in the second half of Q3 to 17 (heavy resistance) or beyond. I think I'll be a buyer below 15.

How'd you do with those calls, Rich?

MK

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To: Michael Kim who wrote (1623)7/31/1997 10:39:00 PM
From: Richard Makowiec
   of 2601
 
Not good MK (the calls). I lost half of my value due to a early release of the report. It happens...just goes to show you, expect the unexpected in this game (stock trading). Funny thing is I didn't sell em. I figure I'll let em ride longer since the #'s weren't that bad after all. If I'm lucky I'll get an upgrade within a few days, NETC will spike a point or two and then I'll get out. We'll C!

Thanks for the link,
Rich

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To: Richard Makowiec who wrote (1624)8/1/1997 1:13:00 PM
From: Michael Kim
   of 2601
 
My broker talked to the Everen analyst who said he liked the earnings report and is in the process of reworking his numbers. So we should go into the upgrade cycle again.

Haven't bought any more yet, waiting to see it base somewhere 13.5 to 14.

MK

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To: Michael Kim who wrote (1625)8/2/1997 8:21:00 PM
From: Curtis Gruber
   of 2601
 
How could they not like that earnings report...hats
off to D.G., 3 quarters in a row..good job...I don't care what they say about next quarters earnings, I am picking up more NETC next week...I thought it was a good quarter, don't know if this is the point to buy it at, or maybe wait another week or two, open to any suggestions, but I will surely grab some if below $14, no doubt about that.
Here is another link..don't know if it was posted already.
news.com 
regards,
cg

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To: Curtis Gruber who wrote (1626)8/3/1997 11:26:00 PM
From: Curtis Gruber
   of 2601
 
good link to read:

techweb.cmp.com 

regards,
cg

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To: Curtis Gruber who wrote (1627)8/4/1997 12:51:00 AM
From: Michael Kim
   of 2601
 
Phew! Thanks for the link Curtis, a very good plug for Netcom, although I'm puzzled why they think PSIX is the next takeover candidate and didn't even mention NETC as a potential target.

I'm with you 100% on Q2 and NETC's prospects in the long. I hope to add to my position this week, around 14. Below 14 to me is a no-brainer at this point. I'm sure a lot of analysts are back at their drawing boards (I guess they actually probably use computers now) reworking numbers. By mid-month I wouldn't be surprised to see some revisions/upgrades coming out. I feel very bullish right now, here's why: 1) If the UK charge was a one-time deal, then we shouldn't have to worry about that in Q3 (except for $300k). This charge alone was worth -$.15 in EPS, right? 2) Company has stated (in the conf. call I assume) that Q3 revenues would be flat as they continue to transition to business customers. OK, even then, all other things being equal we should hit around -$.64 (Q2 earnings w/o UK charge), with 1997 coming in better than -$2.86 (1H 97+(2xQ2 w/o UK charge)). 3) I believe that we will have another buyout/merger in Q3, or if not, Q4. Probably NOT Netcom, because DG is holding out for $$$. I think he will ultimately get it, but not this year.

Wall St. has put the burden of proof on DG with their "show me" attitude toward the stock. Well DG and Netcom have shown them 3 quarters in a row that the turnaround is well under way. This should fuel renewed interest in a quality company. I'm expecting to break past 20 by the end of Q3.

We'll see...

'til tomorrow,

MK

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To: Michael Kim who wrote (1628)8/4/1997 10:16:00 PM
From: Curtis Gruber
   of 2601
 
Agreed MK,..I never see much mention of NETC as a takeover play...seems to be always PSIX...no matter, I agree with the assessment of us hitting $20/share....it is inevitable...the companies fundamentals are looking great, D.G. is managing cash like a madman...revenues are up....I am surprised with the flat earnings forecast, that should have been this quarter, I remember D.G. forecasting 50%+ growth in NETC revenue(something to that effect) not happening till Q3 and 4...hmm..we'll see. Maybe he is trying to keep things under control, scared NETC might end up like MSFT..wouldn't want that now would we????

Nice little bit this morning on NETC and PSIX....check it out
isdex.yahoo.com 

I was very happy to see the UK charge this quarter and still come in under the estimates...very nice indeed, and the cash assets total what? 161 million? about $15/share(give or take)?

Long or short term, I don't think things look too bad....

regards,
cg

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