down 11cents to 55cents, page-3

While it would seem an overreaction on the basis of what is known (HWE's disappointing recent announcement that it expects a break-even result or small loss this financial year before a recovery in '05 - '06), it would not be the first time a company has experienced a swift change in sentiment.

I think the negative perception has been amplified this time because it snuffed out the returning optimism generated by the company retstructure. According to management, however, the reduction in profit is not systemic and relates to only two non-performing contracts.

I bought in at .53 cents around midday, believing the stock oversold but I can well understand the nervousness surrounding the stock presently. Clarification on finance guarantees and further improvements to contract tendering procedures are a priority if negative perceptions are to be dispelled. The order book is obviously excellent only if the terms of delivery in fact prove profitable since investors have been burnt already and won't readily line up for another scorching. But an 18% fall? Seems excessive IMO.

The share price looks to be turning as I write. Hope so!

Gupper