Morgan Keegan Cuts SpectraLink to Market Perform
Morgan Keegan downgraded SpectraLink (SLNK) to market perform from outperform, explaining that the company's Chief Financial Officer David Rosenthal plans to leave.
Analyst Tavis McCourt says that David Rosenthal, the Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer, will be stepping down as of Sep. 10, 2006. He says Carolyn Smyth, who joined Spectralink in Nov. 1999 as corporate controller and recently assumed the additional role of revenue controller, will serve as interim CFO and principal accounting officer. The analyst downgrades the stock until he can get more clarity on its CFO succession plans. He maintains his 77 cents 2006 and 91 cents 2007 earnings per share (EPS) estimates.