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Non-Tech : SOLOMON-PAGE SYMBOL -SOLP-
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To: DALTS who wrote (212)11/29/1997 11:38:00 AM
From: Thomas Kirwin  Read Replies (2) of 295
 
Kev,

I will attempt a call to Eric Davis on Monday so as to lay to rest some of my outstanding issues. This may be mute if earnings are released on Monday which I doubt. My previous conversations with Eric have also been very positive.

The earnings announcement should be positive even in light of my concerns. I now doubt if there will be much if any upside surprise. My guesstimate is for $28.8 million for the year with $0.26 -$0.27 eps. The quarter could produce $9.1 - $9.2 million revenue with an eps of $0.09 - $0.10. Any increase in eps would be attributable to improved revenues in individual temporary and placement segments in addition to savings through economies of scale.

Of course we could see the pro-forma numbers discussed thus far which I believe were $27 million and $0.25 for the year. The quarter pro-forma was $9 million resulting in $0.08 eps. The eps would be similar to last year's same quarter but the total revenue growth would be dramatic. This growth in revenues should bolster the stock price alone with hopes of improved eps in the future.

The more I analyze SOLP my sights turn towards an undiscovered gem named Winston Resources (WRS) as it appears that WRS is the better managed company. If SOLP's earnings are not in line with expectations I may dump SOLP for WRS.

Regards,

Tom
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