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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: wm sharp who wrote (1186)10/25/1997 11:29:00 AM
From: FMK  Read Replies (2) of 27311
 
HelIo Bill, I just heard some preliminary numbers from a financial publication's report on Valence. The editor, who is noted for his conservative approach and with whom I have spoken, feels confident enough to have made earnings projections.

I left him a phone message yesterday remininding him to work the $32 Million + Irish Gov't rebate into his numbers. If he does, and the entirety of the rebate is issued (by formula after the first $4.5 Mln of product is shipped) as expected by early 1998, then his projected numbers should deserve boost of appox $32 Million/22.7 Million sh or $1.40/sh for 1998!

Until now, the company's production has been primarily for mechanical adjustments and fine tuning of equipment and procedures. Except for a few test runs to determine electrical and chemical properites, most of the raw materials have been "leftovers" and 2nd quality. I was told that the company expects delivery of the expensive, first-qualitity materials from a U.S. vendor in November.

As mentioned in an ealier post, I learned that the manager of a large fund has been adding more Valence to his personal account. He once told me that in his 40 years in the industry, he has not found a company or situation with more upside potenial!

Best Regards from FMK
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