. THE NAPEAGUE LETTER
Wednesday, June 9, 1999
Editor: Bob Davis napeague.com
Touchstone Applied Sciences (NASDAQ:TASA)
TASA has just released its second quarter financial results which are slightly
better than my earlier projections. Although I was projecting a slight loss
for this period, the Company produced a break-even quarter. For the complete
release see <http://biz.yahoo.com/bw/990609/ny_tasa_1.html>
On June 1st, TASA announced in a press release that its Mildred Elley Schools
subsidiary has received a "a six-year grant of accreditation by the Accrediting
Council for Independent Colleges and Schools", and also will be eligible for
the "Federal Title IV student loan program by October."
These two releases answer some critical questions about TASA. First, it is now
even clearer that the Elley acquisition has strengthened TASA. Second, the
Company is clearly meeting realistic investor expectations, and should do so
for the rest of the year. The last paragraph of today's release reads:
In closing, Mr. Simon said, "As we continue to make headway with respect
to achieving critical mass, we foresee an increased revenue stream for
the second half of the fiscal year. It is important that our shareholders
understand that we are on target with respect to our goals for the fiscal
year."
I will publish an updated Analysis of TASA shortly after the Company files
its 10-Q Report with the SEC.
NOTICE
This analysis is based on publicly-available information, and is in no way
warranted by me as to accuracy or completeness. I do not guarantee to advise
you as to any change in this information. I currently am a stockholder in
this Company as the result of purchasing its stock on the open market, and
I may from time to time purchase or sell this Company's securities on the
open market. I otherwise have no affiliation with this Company, and I am not
compensated by it in any way whatsoever. |
