ACTM $100 Million Cable Modem Contract with MOT Message Board

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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT

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To: Robert Bond who wrote (171)	9/7/1997 8:31:00 PM
From: Jack Be Quick	of 1250

>> I think it's more like $39-43 based on 30x earnings.<< According to the numbers I obtained from Morningstar, earnings through 2Q '97 were 1.45 (x 30 = 43.50). If 1st Call's consensus est. of .41 for Q3 '97 holds up (qtr. ending 9/30, about 3 weeks away), then trailing earnings at the end of Q3 will be 1.53 x 30 = 45.90. I know that the market has been very, very good recently--still, I think the current gap between Friday's closing price of 35 5/8 and 45.90 is nothing to sniff at, i.e. looks like some significant upside potential to me. As to the growth rate, earnings have been sequentially increasing every quarter since at least 3Q '95, when they were .05/share. I don't know how you define phenomenal, but .05 to .41 per quarter looks like healthy growth to me. I'm not sure to what extent the current estimates take into account the recent acquisitions (if at all), but the recent acquisitions sounded good to me and my impression is that they were well received by other investors. So, personally, I'm not anxious to bail out on this one. Happy investing, John

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