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Technology Stocks : Analytical Surveys (ANLT) computer maps
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To: tonto who wrote (1103)12/31/1999 1:53:00 PM
From: TLWatson59   of 1157
 
tonto: A very sad way to close out the year:

Friday December 31, 12:53 pm Eastern Time
RESEARCH ALERT-Analytical Surveys lowered
CHICAGO, Dec 31 (Reuters) - Barrington Research Associates said Friday that it has lowered its rating on computerized map maker Analytical Surveys Inc. to hold from buy, after the company lowered its previously reported fiscal 1999 results.

Late Thursday, Indianapolis-based Analytical Surveys said income for the fiscal year ended September 1999 was $9.3 million, or $1.29 a share, not the previously reported $11.4 million, or $1.60 a share. The change comes after a review of the company's cost-of-completion assumptions on its contracts.

The company said the revisions would lead to higher-than-expected results for the fiscal 2000 first quarter.

``Although Analytical Surveys is always refining the calculation for cost estimates, this change was much larger than usual,' analyst Michael Hutchison said in a research report. ``Furthermore, these recent revisions have significantly shaken our confidence and have reduced earnings visibility for the company in the near term.'

Analytical Surveys shares were down 1/2 at 11-3/8 Friday.

As I have always maintained "The proof of the pudding is in the eating." In this case a bad taste has been left in many a mouth.

I am grateful though for the performance of of both my old toy and the new one I mentioned in my last response to you.

Let's hope the New Year is filled with far better things for all of us.

Talbot

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