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Biotech / Medical : QDEL - Quidel more quick diagnosis

QDEL 24.35

+14.3%

Nov 21 3:59 PM EST

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To: George Young who wrote (646)	4/18/1997 2:10:00 PM
From: Robert Busse	of 1693

George, I think your estimates are entirely reasonable. I also hope that, if achieved, these numbers will give the stock a 1/2 to 1 point 'Bounce" at the minimum. I think the lawsuit has cause a lot of concern out there in investorland and, even though 4 th qtr and year end earnings are entirely independent of the lawsuit (filed after the end of the qtr), good numbers will give potential investors that "warm and fuzzy" feeling- hopefully, good numbers will also cause other analysts to revise fy 98 estimates upward and give the stock another boost. I think the market has overreacted to the lawsuit. If Qdel makes 16 cents for the year, it is currently selling at or below a P/E of 20X last years' (FY 97) earnings and a P/E of 12.5 times current year (FY 98) estimates of 24 cents- Lawsuit or no lawsuit, these are incredibly low multiples in my opinion

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