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Non-Tech : SPIN-OFFS "secret hiding places of stock market profits"
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To: Stewart Whitman who wrote (322)6/29/1999 10:29:00 AM
From: marketmover  Read Replies (1) of 1185
 
Stewart -- Thanks for pointing out ESSF

Read the S-4/A. The spinoff is worth a minimum of $1.50 ($6) and potentially a lot more. They were barely profitable in 1998 (eps of 0.55 pro forma, 1.5% net margin). I have a call in to them to see what 1999 will look like. 1stQ 1999 revenues were up 26% with growth by acquisitions. Could be a nice roll-up story in a hot housing market!
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