ESLTF (Elbit Systems Ltd) an Israelian arms manufacturer Message Board

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Technology Stocks : ESLTF (Elbit Systems Ltd) an Israelian arms manufacturer

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To: LLLefty who wrote (13)	10/13/1997 7:59:00 PM
From: Use Solar NRG	of 45

To all: Just received some information from the Tel Aviv Stock Exchange (TASE), regarding, among other Israeli companies, ESLTF. TASE publishes a booklet, compiling financial data on the top 100 companies traded at TASE, plus some data on Israeli companies listed elsewhere, such as on NASDAQ. ESLTF, data for '94-'96 (in US$millions, adjusted to the exchange rate as of 31 Dec 96, when NIS 3.251 = US$1.00) 1994 1995 1996 Sales 289.3 299.9 307.5 Oper.Inc. 34.3 29.2 23.2 Inc.b4 tax 32.6 30.9 23.7 net inc. 27.2 24.2 18.0 equity 38.2 61.4 77.6 curr.ratio 0.77 1.01 1.12 Per 31 Mar 97 Market value = 170.0 P/E = 9.4 Market value/equity = 1.99 Given this data, I have a problem with Cz's claim in his flyer that this company has "earnings growing at 33% from year to year." Note that the TASE data shows earnings DECREASING from $27 million to 24 to 18. I wonder: is he using data in Israeli currency, rather than converted to US$? Comments anyone? Yours for profitable investments, Sunny

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