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Technology Stocks : Watkins-Johnson

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To: Dave Grady who wrote (56)12/18/1997 7:19:00 PM
From: geoffrey Wren  Read Replies (1) of 75
 
Dave: kinda slow on this board, which is probably a positive sign. I am not sure how much cash there is in the company now. If I have it right, the most recent quarterly report showed $40m in cash, which is before the sale of the defense unit was consumated. Then the defense sale was supposed to be for $100m, but the last quarterly report said they expect to end the year with about $100m. So where does the $40m go? I assume this can be explained. But at $100m, that is $12/share in cash, for a stock trading at $24. My goodness if they distributed the cash, the remaining PSR ratio would be like .35, for a company with good products. Looks like a possible buy to me. Is there a counter-argument to this? Thanks in advance if you can shed any light on this company at this time.

Geoff Wren
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