RE: OAO Technology. I have not yet been able to find the S-1 on Edgar
yet. Its available through Edgar-on-Line, but unfortunately you have
to be a subscriber (9.95/mo). I was able to find a portion of the
S-1 with revenue,etc. data but after I copied it was pretty much a
jumble. Here is a portion (the first column is 1996 and the second
1st six months of 1997):
SALES (000's§ 57,891 39,338
TOTAL-REVENUES 57,891 39,338
CGS 43,896 30,773
TOTAL-COSTS 43,896 30,773
OTHER-EXPENSES 10,824 6,315
LOSS-PROVISION 0 0
INTEREST-EXPENSE 46 87
INCOME-PRETAX 3,125 2,163
INCOME-TAX 1,315 931
INCOME-CONTINUING 1,810 1,232
DISCONTINUED 0 0
EXTRAORDINARY 0 0
CHANGES 0 0
NET-INCOME 1,810 1,232
EPS-PRIMARY 0 0
Comments:
Gross margin was 24% in 1996 and 22% so far in 1997. Revenues growing
at 38% clip. Net margin at 3% both last year and this. Assuming 6.4
million shares, OAO would have earned .28/sh last year and .19/sh so
far this year. Can we safely assume .35 to .38 per share this year?
Look at SCAI, trading at 19 today with projected earnings of .20 this year. Got to read the S-1, of course, but looks better than I
thought.
Bill |
