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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: John Curtis who wrote (1235)11/1/1997 11:30:00 AM
From: Larry Brubaker  Read Replies (1) of 27311
 
John: I agree the Red Chip review is not bad, after all, they are predicting more than a double, and they don't do that for many stocks.

Regarding their revenue model, they assume 3 lines at 50% capacity for one shift for 4Q 1998, but a gradual expansion in utilization and shifts for FY 1999. They don't say what their projection is for capacity or number of shifts running at the end of 1999. So, its hard to say if they are assuming the Northern Ireland plant is running at full speed by the end of FY 1999.

They also don't mention the $32 million? rebate I've seen mentioned on this thread, and they don't appear to be assuming any kind of revenue from joint ventures. So, yes, their projection appears to be conservative.
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