Odetix (ODETA) best in mass data storage, going up!!! Message Board

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Technology Stocks : Odetix (ODETA) best in mass data storage, going up!!!

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To: MarkL who wrote (447)	10/23/1997 8:44:00 PM
From: caney	Read Replies (1) of 529

After the spinoff, Odetics will retain four divisions w/ estimated revenues for FY ending 3/31/98 of approx. $100mm. Book Value as of 9/30/97 was $6.70 per share with real estate on the books at cost. Land worth at least additional $2.oo per share after tax. Four Divisions: 1) Gyyr: Produces complete digital systems for security and surveillance mkts. $50 million in sales expected for this year and profitable; next to be spun off - during calendar 1998; Based on 6.8mm shares outstanding could be worth $10 per share in IPO. 2) Telecomm: Includes telecom produtcs and spaceborne data recorders. Over $12mm in orders in past 12 months from LGIC for PCS system synchronization products; Synchronization products currently in testing by Lucent, and also working with other base station manuf. 3) Broadcast: broadcast facility management systems New Roswell system is comprehensive solution for complex, multichannel media and resource management. Initial response has been overwhelmingly positive w/ orders already recieved from Germany and Spain. 4) Intelligent Transportation Systems: New division purchased from Rockwell Initial investment in this division responsible for most of quarter's losses; investment starting to pay off as evidenced by orders from cities in Calif. and China totaling $4mm. With ATL at $13 and distribution ratio of 1.1 this position amounts to $14.30 per ODETA share. With ODETA at $18.25, substracting $14.30 represented by the ATL position, ODETA implied value=$3.95 or mkt cap of $27mm. This for co. with book value of $6.70 and revs. of approx. $100mm. Does this seem reasonable to you? With possible Gyyr spinoff next year I believe stock should be worth at the very least $10 per share or mkt cap of $68mm. $10+$14.30(ATL)=$24.30 today.

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