Bilberry - JMAR did a study of comparable companies to see what the various divisions of JMAR might be worth. So taking the different divisions of JMAR, here's how they add up:
JPSI - would probably sell for between $7.5 - $15 million. Sales in '99 will be about $14.5 million, in 2000 - $19 million, 2001- $25 million.
Companies comparable to JPSI are Newport Corp, Veeco/Wyko; Zygo.
JSI - comparable companies: Galilleo Technology, Globespan, TranSwitch, Maker Communications. The average IPO market value of these companies was in excess of $200 million PER COMPANY. Today their value is $800 million per company. Prior to the IPOs these companies average sales were $8.8 million/year -- less than JSI's forecast sales for THIS YEAR.
J-Light (the laser division) - can't define a value from a comparable. There are no comparables. Could be worth $50-100 million.
Add up all the divisions, and it's projected at about $135-140 million today. In one year, it could be $265-290 million. The REAL current market value today is just $30 million. Conclusion: The market is not valuing JMAR properly. My opinion: The market doesn't really know what JMAR does. I believe the market thinks JMAR is in the "disk drive inspection business" -- and maybe a few know they're working "on some laser stuff". Since the data storage business is lagging right now, JMAR's stock is lagging. Somehow they have to get the idea out that they're doing other things that are much more exciting and have more potential. I discussed this with some of the other shareholders at lunch, and we all agreed. (Yes, I met your friend, Stan.)
I hope some others join in and post here. There was SO much info it was impossible to absorb it all.
Betty
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