Magellan Aerospace Corp (MAL) New Listing Message Board

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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing

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To: Dennis Lefebvre who wrote (599)	3/7/2000 12:43:00 PM
From: thomas gentry	Read Replies (1) of 633

Magellan Aerospace year-end results Just released, you can find them at newswire.ca The results look good to me for the following three reasons: 1. 1999 net earnings on sales (even after accounting for the higher taxes) increased to 7.63% from 7.57% in 1988... MAL is generating money with record efficiency. Worries regarding the tax issue and an aviation sector slowdown have turned out to be nothing more than paper tigers. 2. Despite all the doom and gloom talk over the past few months, MAL still generated an EPS of $0.69, which is only three pennies short of what the market was calling for last August. 3. Application of forward PEs of 9 to 14 produces a fair trading range of $6.21 to $9.66. With the average at $7.94, MAL is definitely undervalued. Other comments? Thomas

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