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Technology Stocks : Elamex(ELAMF)
ELAMF 2.150-15.7%Mar 7 3:00 PM EST
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To: Ron Bower who wrote (139)10/29/1997 3:13:00 PM
From: j rector  Read Replies (1) of 276
 
[ NOtes on CC}

1) 15.7 MM cash, 17 MM AR, 11 MM Inventory.

2) gross margins should improve by about 3/4 %
next q due to peso devaluation.

3) Main drop in gross margins is due to 20% mexican
inflation with no corresponding devaluation in peso--
only about 3%.

4) New contracts should contribute about 20MM in
sales during next year.

5) Loss of the relocating customer should drop sales
by 10 MM.

6) overall a net sales increase of about 10% anticipated.

7) Margins seem to be wholly dependent upon peso valuation.

8) 3 potential acquisitions in the 40-60 mm
revenue range. Acuqisitions expected to be non-dilutive,
which indicates to me that they'll have the cash to handle
most of the purchase price.

9) Two non-recurring events dropped net by 25% this Q($600,000).

Bottom line (IMHO):

Next years earnings should be
about 10% more than this year,
with the wild cards being the peso valuation
relative to mexican inflation and the possibility
of another company purchase.

Seems like ELAMX is is a pretty good position. Wish they would
work more on margins, though.
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