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Technology Stocks : Zitel-ZITL What's Happening
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To: CalculatedRisk who wrote (12619)11/6/1997 3:04:00 PM
From: doug doan  Read Replies (3) of 18263
 
1st Quarter Projections.

I think you did a good job picking apart the numbers. I think you overestimated the sales and underestimated the SG&A. plugging in my more pessimistic estimates I get this:

Revenues:
Net sales: $4.0
Royalties ..... $0.3
Y2K ........... $0.0
Total ......... $4.3 Million

Expenses:
Cost of Goods: $3.2 Million
R&D ...........$2.5
SG&A ..........$6.0
Operating Income <$11.7 Million>

Interest Income $1.5
Total Income <$10.2Million>

EPS <$0.65>
Shares 15.5 Million

Wild Cards:

1. They can dilute the earnings/losses per share by spinning of the 1 million shares they are authorized.

2. I still do not understand the tax business but conceed that they try to seek some sort of tax loss credit.

3. I note that they have a $3 million line of credit (untapped) which expires in Jan 1998 unless renewed. Interesting, as their cash flow dries up the sources are getting scarcer.
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