I thought perhaps you might be interested in the latest update from Red Chip Review ,dated 9/16/97 .
I will be editing some of this because it is so long ,but here are the highlights .
1 . 4th qtr estimates $11.9mm revs
gross margins 36.0%
operating margins 7.8%
EPS $.04
Caveat: Although we have presented estimates for the 4th quarter ,they do not reflect anticipated charges ,adjustments ,and reclassifications that TPRO is likely to implement at is year-end financial results are finalized .Beyond the failure of Marshall Hyman Consrtuction to make timely payments on more than $2 million in invoices billed to it by TPRO on a major IBM semiconductor fabrication project,we believe the addition of a CFO and the decision to upgrade its independent auditors to BDO Seidman , will result in an effort to reset the financial statements .In light of the dramatic changes that have taken place over the past 18 months ,we do not consider such actions to be unusual
2. Year 2000 situation. A report by Automation Research Corporation (ARC) , a leading supplier of market research to the manufacturing automation industry says " There has not been much press about industrial control systems ." The report goes on to indicate that while many industry participants were in the early phases of assessing Y2K exposure ,the researchers were "suprised when met with skepticism that there is a problem at all ."
3.TPRO's Plant Y2K One starts selling in mid-October and creates a very large potential stream of revenues ,albiet for a limited period .The total plant market could be 170,000 plants. As a result , we believe the potential value of the targeted market represents an $850 million to $ 1.25 billion opportunity .
4.Estimates for FY 98 FY 99
Revenues $68.3mm ------------- $116.7mm
Gross profit $28.3mm ------------ $58.4mm
Gross margins 41.4% -------- ------ 50.10%
EPS $0.31----- - --------- $1.02
Forgive my typing,I ain't giving up my day job,I hope you can figure out the numbers even though they are not squared up
That is as much as I can post right now.
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