Keith, I wouldnt be surprised if you are right but for now I will stick with the analyst expectations which may be conservative. But even if they only meet expectations the price of the stock does not yet reflect this growth. Also, the prospects for this company look very good as it seems they are setting up several joint ventures and they could possibly become a acquisition target at these prices. Here is another news release from a couple of months ago that highlights one of their press releases. I hope to try to contact the company in the next couple of days to get even more information. It looks earnings will be out on 10/15 but I will confirm with company.
Company Press Release
Advanced Lighting Technologies Acquires Equity Position, Strategic
Partnership With Fiberstars
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 1, 1997--Fiberstars, Inc. (NASDAQ:FBST) announced today that
Advanced Lighting Technologies, Inc. (NASDAQ:ADLT) has acquired an equity position in Fiberstars to create a strategic
partnership which will develop and market next generation fiber optic lighting systems.
Advanced Lighting Technologies acquired the Fiberstars shares formerly held by Pacific Technology Partners, a venture capital
fund that is in the process of dissolving. These shares represent approximately 18% of Fiberstars shares outstanding. Wayne
Hellman, Chairman and CEO of Advanced Lighting Technologies, will join the Fiberstars Board of Directors.
Both companies are among the fastest growing in the lighting business. Advanced Lighting Technologies reported a sales
increase vs year ago of +63% to $60,776,000 for the nine months ended March 31, 1997, with earnings up 447% to
$4,502,000 ($0.33 per share). For the six months ending June 30, 1997, Fiberstars sales were up 25% to $10,075,000, and
earnings were up 106% to $504,000 ($0.14 per share).
''Fiber optic lighting is a developing market. Current products are aimed at niche segments,'' said Advanced Lighting
Technologies' Wayne Hellman. ''Next generation systems will be designed to compete in the general lighting market, which
offers much greater volume potential. ADLT demonstrated a prototype of a new technology fiber optic illuminator at the Light
Fair trade show in New York this year. We look forward to working with Fiberstars to further develop and market new high
performance systems.''
Fiberstars President, CEO David Ruckert noted, ''Advanced Lighting Technologies has superior metal halide lamp technology.
The opportunity to design lamps and power supplies expressly for fiber optic lighting systems has the potential to deliver a
significant increase in the performance of Fiberstars products at pricing which is roughly competitive to conventional electric
lighting products.''
Fiberstars also has a fiber technology partnership with Mitsubishi, the world's leading plastic optical fiber manufacturer.
Mitsubishi took a minority equity position (3.6%) in Fiberstars in 1995.
Advanced Lighting Technologies is an innovation-driven designer, manufacturer and marketer of metal halide lighting products.
The Company has operations and affiliates in North America, Europe, the Pacific Rim and Australia.
Fiberstars is the world's leading supplier of fiber optic lighting systems. The Company develops and manufactures products for
commercial lighting, pool & spa and medical markets.
Forward going statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, but
not limited to, the potential for expansion of the market for fiber optic lighting, and the ability of cooperative efforts between
Fiberstars and Advanced Lighting Technologies to develop products which are successful in the market. Actual results may
differ materially from the results predicted. For more information about potential factors which could affect Fiberstars financial
results, please refer to the Fiberstars Annual Report on Form 10-KSB for the year ended December 31, 1996, and the
Fiberstars Quarterly Report on Form 10-QSB for the period March 31, 1997, which are on file with the Securities and
Exchange Commission. |
