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Strategies & Market Trends : e-Commerce the Next 100 Months......
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To: Iris Shih who wrote (2693)8/10/1999 1:16:00 PM
From: Rob S.   of 2882
 
**OT**

Take a look at the only Internet related stock I now own - FLYR. It is really a "Travel Management Company" with 78% of revenues coming in from management contracts rather than cut-throat commodity travel business. It has also been a roll-up strategy in the consolidating travel business. The company earned 36c this quarter (reported today) and is expected to earn around$1 this year and $1.15 next. It is currently trading at around 8, less than book value (current book >$9.50). They plan to increase revenues around 50% in 12 months and double revenues over the next two years. And the company plans to buy back shares which they think should be valued at around $20 within a year.

The company has several ongoing and planned web properties and there is a possibility of an Internet spin-off by next year. One analyst estimated that the web properties alone are worth $15 given comparative valuations. Navigant is developing sites that leverage their billions in travel bookings and over 1.5 million professional business customers.

It has not managed to break through a 7-9 trading range, IMO, because of market conditions. I think it will easily double or triple within 12 months. Anyway, if you want a margin of safety in the current market conditions - it is a tremendous value play.
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