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Technology Stocks : FSII - The Worst is Over?
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To: Running Bull who wrote (1491)10/6/1997 11:08:00 PM
From: Donald Wennerstrom   of 2754
 
I asked the question about Polaris because I think their success in this area is very important. When I recently reviewed FSI's FY-96 results given in the Form 10K, sales for the year were $304M and backlog was at $113M. This amount is 37 percent of yearly sales, or in other words, just slightly over 4 months of backlog at that sales rate.

Of course, FSII could not sustain the sales rate because the bookings were down, backlog was down, etc. If I remember right, the estimated sales for FY-97 is about $260M. Here is a firm that has facilities set up to do up to $600M per year in sales. They need some good bookings, and an increase in backlog compared to last year. For me, that is going to be the key number, backlog, when they announce earnings next Monday.

Don
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