Inter-Tel INTL Bottom Fishing Message Board

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Technology Stocks : Inter-Tel INTL Bottom Fishing

INTL 28.06

+0.4%

4:00 PM EST

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To: Tara Cobble who wrote (28)	3/18/1997 8:03:00 PM
From: Mike Mansour	of 156

The analysis I last saw is fairly old - 12/10/96. It was in the Red Chip Review. At that time they were looking at $0.86 EPS for 1996 and $1.22 for 1997. Strength was due to demand for AXXESS systems and software and growth in new offerings. Also efforts in expanding their direct-sales capability in Japan as well as Europe. On the downside gross margins slipped due ot problems with a management info system (consulting fees & depreciation) and last quarter they had a large write-off for that. Overall assessment was that the margin erosion was due to short-term issues and that it is oversold. Demand is strong for existing products and the new-product pipeline is full. Red Chip's target price for 1997 is around $25.00 (PE of 18-22 and EPS of $1.22).

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