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No. of Recommendations: 3
No. This position is going backwards. They post pro-forma earnings which are suspect after the Enron debacle. Their revenues are declining. In their conference call, they dramatically reduced earnings projections for 2002 and they pushed back the quarter they would become profitable from 2Q 2002 to 4Q 2002. There really is nothing here except for a bunch of longs who have no sell discipline, like me.
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