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Hi Kevin: Thanks for the "insider" perspective. Wow!! +10 cents earnings for the quarter ending September (that is impressive, because of market expectation of flat earnings). There still is some lingering questions about persisting inventory problems. Is the inventory "gone" or are being "reduced". Of course, outside investors and Wall street have a positive outlook for Cirrus and again Chip & Technology's execellant September quarter indicates execellant September quarter also for Cirrus. I really would appreciate your response to Cirrus employee mood (nervous/happy/high expectation) Thanks.
Hi Rory: Cirrus did pretty good. It reported +5 cents for the quarter ending Sept. 1996, the street expectation was -1 cent to flat. Cirrus is trading at 24 1/4 in after markets (Instinet) up 1/4 from today's close. Cirrus can do good tomorrow. Apple is dominating the after close trading. It reported a real surprice +6 cents earnings and is trading at about 27 3/4 about 2 above todays closing. Also Informix which reported a lower than expected earning is trading in Instinet about 23 someting, about 3 DOWN after todays close.
Well you have half of the story. They actually reported a .06 loss on operations and an .11 one time gain on the sale of assets. Expect the market to react in a negative fashion for at least the short term. I'm still bullish on this stock but I am disapointed in the previous quarters results. Looking ahead, Cirrus has a lot to offer the PC market and PC sales look good for the Christmas season. Corporations are reported to be buying PC's at a greater rate in the next 12 months as well.