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Technology Stocks : American Power Conversion

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To: Boots who wrote (1452)6/11/1997 4:40:00 PM
From: Bob G   of 2574
 
Boots

<<Now, for my reservation about First Call's .28 estimate: APC has
consistently stated it expects growth in the 20% to 25% range for the
year. It even stated the expected percentages for each quarter
(a number I don't know off hand). First Call's .28 is a full 40%
above 1996 second quarter results, a quarter, which at the time, had
record revenues. 40% seems like APC is being set-up for a fall.>>

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The numbers look reasonable to me and APC!

Using APC's own numbers I calculated the following:

per APC Revenue Growth Rate 20-25%......Middle 22.5%
per APC Revenue distribution by Qtr 20% 23% 28% 29%
Last years revenue 706.9mm X 1.225 = 865.95mm

Last years earnings/share .98 X 1.225 = $1.20
assuming a steady profit margin the earnings distribution
should track the revenue distribution following 1st QTR,
Revenue Q1=172 Q2=199 Q3=243 Q4=251 1997=865mm
Earnings/sh Q1=22 Q2=25.5 Q3=31.7 Q4=35.2 1997=114.4

Another opinion: S&P estimates 1997 at $1.20 (22,26,34,38)
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