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Technology Stocks : PTEC superiority over Systemsoft
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To: burt l seifman who wrote (238)10/30/1996 2:49:00 PM
From: steven siu   of 287
 
I have been cranking through some of the numbers and here are my thoughts:

1) PTEC reported 4th quarter earnings per share of $.18 and $.63 for the fiscal year excluding results of Virtual Chip, tax credit, etc. They also reported that the fiscal year result is a 26% increase over the prior year. If we use the Motley Fool POG formula (P/E ratio Over Growth rate should = 1), then the true P/E ratio should be 26. 26 * .63 = 16.38 which is the current price of the stock. So perhaps for the short-term, the market did react correctly to the news.

2) Looking at the trend from last 2 quarters (2nd quarter was 4 mil and 3rd quarter was 4.9 mil), this quarter should have been 6 million. I am wondering if perhaps the additional 1 million jump in RD expenses to 7 million is due to the acquistion of Virtual Chip. In any case, as you pointed out, it is a good thing.

3) PTEC has some great ducks lined up and the price is right. I too like you am going to increase my position in this stock.

Best of luck,
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