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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY
SMIT 0.0155+3.3%Oct 14 2:00 PM EST
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To: MANNLAKE who wrote (46)8/23/1996 9:19:00 PM
From: MANNLAKE   of 276
 
TO ALL,

MEETING WENT WELL. HERE ARE THE HIGHLIGHTS;

1. HAVE JUST COMPLETED THEIR 12TH SOFTWARE UPGRADE.
A. CAN NOW MEASURE TO THE FOURTH DECIMAL POOINT.
THIS IS A IMPROVEMENT OF 10X. THIS IS BETTER THAN WHAT IBM'S
MACHINE CAN DO. IBM HAS ONLY ONE MACHINE AND IT IS LOCATED IN
JAPAN. IBM IS EXCITED TO FIND A CHEAP PRODUCT THAT IS MORE
ACCURATE AND THAT THEY DON'T HAVE TO SEND STUFF TO JAPAN TO
MEASURE. THEY COULD HAVE SMIT MACHINES ALL OVER THE US FOR THE
SAME COST AS THE ONE IN JAPAN.

2. LAST QUARTER EARNINGS
A. TAXES WERE 20,000 GREATER THAN PROJECTED BECAUSE THE IRS
UNDER FASB 109 REQUIRED IMPUTED INTEREST TO BE APPLIED TO THE
AMOUNT PAYED TO THREE DEBTHOLDERS OF TMA LASER THAT WAS BOUGHT
BY SMIT LAST YEAR.
B. A NOL WAS ALSO TAKEN THAT WAS UNEXPECTED AND THIS WAS ABOUT
75,000

3. FORECAST
A. COMFORTABLE WITH RED CHIP REVIEW FORECAST FOR 97 FISCAL OF
.36 CENTS.

4. UPCOMING TRADE SHOWS
A. INTERNATIONAL MACHINE TOOL SHOW 1ST AND 2ND WEEK OF SEPT
B. DISK CON LAST WEEK OF SEPT.

5. MEASUREMENT
A. PROJECTS 70-80 MACHINES SOLD THIS YEAR.

6. BALANCER
A. 6 MILLIOM IN REVS PLUS
B. EUROPEAN SALES COULD NOW MAKE UP 10% OF THIS NUMBER

7. McDONNELL DOUGLAS
A. THE TESTING WILL OCCUR IN OCTOBER IN ARIZONA

8. OEM SALES
A. E-MAIL ME ON THIS ONE BECAUSE THERE IS ALOT OF VERY
EXCITING NEWS HERE.

THERE IS MORE TO COME. E-MAIL ME WITH ANY QUESTIONS.
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