MacNeal Schwendler (NYSE:MNS) Message Board

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Technology Stocks : MacNeal Schwendler (NYSE:MNS)

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To: Banks who wrote ()	3/20/1997 1:11:00 PM
From: Banks	of 10

For anyone who is interested..... MacNeal held a conference call on 3/6/97 and a few interesting points came out of the meeting. Annual earnings were negatively impacted by approximately $0.13/share as a result of currency fluctuations. What this tells ME is that the annual earnings of $0.71/share don't paint the full picture of how strong the turnaround at MNS is. In fact, I suspect if you exclude the impact of currency fluctions, MNS would have handilly beat the Q4 earnings estimates of $0.28/shr, which they met right on. On another note, apparently Ford apporached MNS to work with SDRC to better integrate NASTRAN into I-DEAS. Ford selected SDRC as their primary canned system provider. This arrangement is not expected to be a major source of revenue growth for MNS going forward. What I find interesting about this is that one of the key points made during the call was how the automotive business is very strategic in nature to MNS. Relative to future earnigs growth, fostering new relationships with CAD software designers is seen as an area for the company to go after. The new relationship with Co-Create, a $100 million CAD division of HP, was cited. The objective appears to be providing analytics to existing CAD systems. I believe a similar press release came out a few weeks age relative to a relationship with Autodesk. I'm not to sure if this is relevent to anything, but the last analyst to question management was from Smith Barney. He basically asked what the feedback has been from indusrty trade shows. Pretty begnign question compared to earlier analysts. In this past week, with the 160 point declines in the dow etc., MNS has hardly budged. It seems to have formed a nice base here at 9 3/8. IMO, I still feel that there is significantly more upside potential than downside risk. Robert

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