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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.