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Technology Stocks : Avant (AVNT)

AVNT 29.24

-3.0%

2:48 PM EST

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To: Paul M. who wrote (404)	9/8/1997 9:59:00 PM
From: Gary Korn	of 3441

BRIEF: TMAI is a provider of physical simulation software to support integrated circuit design & manufacturing. The Company's technology computer-aided design software enables customers to design next generation integrated circuits. For the 3 months ended 3/31/97, revenues rose 34% to $5.1M. Net income rose from $120K to $509K. Results reflect higher licensing sales in the U.S. & Japan, commencement of professional services group & interest earned on IPO proceeds. --------------------- The above means that AVNT is paying $150,000,000 in stock for a company with revenues of $5,000,000 and net income of $500,000. Was this a good investment?? Wouldn't $150M invested at 10% earn $15M? -------------------- TMAI INSIDER TRADING (Prev. 6 months) Net Insider Trades -11 # Buy Transactions 0 # Sell Transactions 11 Net Shares Bought -0.168 Mil # Shares Bought 0.000 Mil # Shares Sold 0.168 Mil --------------------- Does this insider selling pattern of TMAI suggest anything? Gary Korn

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