Elamex(ELAMF) Message Board

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Technology Stocks : Elamex(ELAMF)

ELAMF 2.150

-15.7%

Mar 7 3:00 PM EST

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To: j rector who wrote (113)	10/10/1997 9:36:00 AM
From: Ron Bower	of 276

j, I'm trying to keep any estimates I make on ELAMF conservative. I'm hoping that we see and increase in revs, but I got fooled the last Q with revs being flat with the 1Q. I try to hold down my optimism on ELAMF because I've overestimated the last two Qs. V-SPEC, I went thru ELAMF's Q report and they break down the amount of cash and receivables they have in dollars versus Pesos. They are hoarding dollars and only converting to Pesos as needed to meet payroll and other expenses. All of their A/R is US, most of their A/P is Pesos. As the Peso falls, they automatically gain profits in assets/liabilities. Their contracts are in US and biggest expense is labor, so each devaluation .... I see the peso/US going above 8 soon and continuing to trade weak on the forecasts being made. Who's going to pay 8 when it's going to 8.5? Just my 2 cents, Ron

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