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Author: TMFJeanie Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 62  
Subject: Re: Anybody home? Date: 6/14/1997 2:19 PM
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Hi Woody,
Yes, we're home :-) I don't personally follow this stock, but intrigued by your inquiry, I dug up some recent info about what's going on at Donnelly. Here's what I found:

The announcement to offer an additional 1.5 million shares of common stock back in early May, was withdrawn this past week in an S-2 filing with the SEC on June 9. No reason was given other than "the company has decided not to proceed with its underwritten offering of common stock at this time."

I noticed in their Q3 earnings report back in April they mention unfavorable exchange rates in Ireland and ongoing problems with suppliers in their Irish operations. In Germany they were experiencing intense pricing pressures and higher operating costs. French and Spanish operations were performing well, however.

One thing to watch out for may be the fourth quarter, when Donnelly will be taking a pretax charge of between $8-$10 million to financing a major retructuring of its European operations, which are underway now.

Since the news about Euro problems and a 4th quarter charge to fix them is already out, it seems the thing to be looking for is how well they implement this plan to expand global operations successfully.

Good luck with your investment in Donnelly -- a company, by the way, that placed in the Top Ten of the the book, "The 100 Best Companies to Work For in America". I kinda like the sound of that :-)

TMF Jeanie
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