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Gold/Mining/Energy : TECSYN (Toronto-TSN)
TSN 58.43-0.2%10:05 AM EST

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To: nammir chucri who wrote (70)1/20/1999 12:30:00 AM
From: Steven Ivanyi   of 78
 
The reason I think this stock is not doing great is due to:
1- The Polywine division is a mature, highly competitive business that is a cycle business that can one year cut profit margin real thin and in other years good profit margins. Tecsyn makes most of its money in Polywine. This is a big if.

2- The Powder metal division is marginally profitable at best. Even with the $7 million order.

3- Tecsyn has had a history of not delivering consistent earnings in the past.

However, I do keep a close eye on it. I had a bucket of this stock that I unloaded in the $6+ price range. Looking to buy back.

Steven
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