CSI Update: HOLD MRVC

MRVC announced Q1 results on May 8th. Revenues were $42.3 million up 9% from $38.9 million last year. GAAP net loss was $.58 a share, compared to a loss of $.59 per share last year. Non-GAAP loss was about $3.0 million compared to $4.4 million last year.  Our valuation fell to $23.19 from $25.49 last quarter but up slightly from $23.19 last year. MRVC is trading at about 50% of our valuation.  We will continue to HOLD as results showed continued losses, but sales continued to grow nicely,

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