SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : INTERNATIONAL FIBERCOM, INC. (nasdaq - IFCI)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: SunFun501 who wrote (2228)10/9/1997 4:05:00 AM
From: xfiles   of 2486
 
I know I said I'd limit to 1 post/day, but surely SunFun would like an oppty to revise his spreadsheet.

SunFun, your revs and cost of revs look fine. I'd even go another $1M in revs (with corresponding increase in cost of revs) if you want. Your G&A is probably too low, though. The run rate based on Q1, Q2 is over $4M, and the trend is up. More important, you left out interest expense. Around $450K?

I get a bit over $2M in earnings. Divide by 14.2M shares and ... 14 cents ... same as Feraldo's numbers implied. I was thinking 12c or maybe 13c. But 14c is not unreasonable.

As for a multiple, your 31-ish multiple includes companies like Tellabs and Qualcomm and Pairgain. Those aren't comparables. IFCI says that Burnup (which is now MTZ) is a comp. MTZ (a good co.) trades at around 20x '97E, as do other more realistic comps. For that matter, look at what IFCI is paying for these acquisitions on a price/sales basis. It all leads back to a stock price in the $3-4 range.

What we really need is info on '98. So far, the suggestions are for revs of around $53M, with the 2 mentioned acquis. factored in. If IFCI can hold a 5% net margin (remember, the debt svc will balloon), that's $2.65M earnings. Add 2.7M shares (?) to the count and we're around 17M shares, plus or minus. That's 16c ... which would be 23% y/y EPS growth ... solid.

--x.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News