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Technology Stocks : FSII - The Worst is Over?
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To: Joe Dancy who wrote (1273)8/3/1997 9:07:00 PM
From: Donald Wennerstrom   of 2754
 
Joe,

I was being a little facetious on Tegal. As you noted, the latest earnings were not good for the first quarter of the FY. Management also said in the report they would not be profitable for the remaining three quarters of the year. This means the consensus estimate carried by Zacks of -0.01 for the present FY year is way off base.

Having lost 12 cents in the first quarter, and management saying they are going to lose money in each of the remaining quarters, the yearly loss per share may be very significant. Since the present estimate for this FY is obviously highly flawed, the present estimate of earnings for the following FY of 80 cents is also highly suspect. I'm sure that's why the "market" is evaluating Tegal with a foreward PE of 9 at the present time.

As you say, the company could be bought out anytime at a significantly higher value. That's possible, but not something I want to bank on at the present time.

Regards,

Don W.
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