Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Probart who wrote (69159)	11/2/1999 11:43:00 AM
From: Jenna	Read Replies (2) of 120523

WJCO..+ 11% PEB +9.84% (earnings plays) no need to have held through earnings. Shorted GSPN 81 5/8 covered at 78 5/8.. will revaluate new position ifit remains above the 20 period MA and other indicators confirm new very short term uptrend. WJCO up a little over a point this morning on good earnings news popped more. Third quarter this was an earnings play. Wesley Jessen Third Quarter EPS Increased 22.4% Propelled by Disposable Lens Sales Growth of 34.4% DES PLAINES, Ill., Nov. 2 /PRNewswire/ -- Wesley Jessen VisionCare, Inc. (Nasdaq: WJCO - news), the world's leading manufacturer of specialty soft contact lenses, today reported sales of $80.7 million and net income of $9.9 million for the third quarter ended October 2, 1999, increases of 7.3% and 23.5%, respectively from the third quarter last year. Earnings per diluted share for the third quarter of $0.53 increased 22.4% from the same period last year. ''Worldwide disposable lens sales increased 34.4% to $42.8 million in the third quarter, fueled by growth in demand for FreshLook ColorBlends® and FreshLook® Toric,'' said Kevin J. Ryan, Chairman and Chief Executive Officer. ''Wesley Jessen's other disposable brands -- Precision UV® and GentleTouch® -- also enjoyed strong growth during the quarter. Wesley Jessen's disposable lens growth is the fastest among major companies and accounted for 53.1% of our worldwide sales, compared to 42.4% in the same period last year. Sales of Wesley Jessen brand conventional lenses declined 10.9%, in line with market trends as our product mix shifts to the more financially attractive disposable lens category. Together with a drop in contract orders from other lens companies (OEM), total conventional lens sales declined 12.6%.''

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