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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE
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To: James Strauss who wrote (807)12/26/1997 12:01:00 AM
From: Elliot Lepler  Read Replies (2) of 2377
 
Re Air Methods (AIRM)

Three points of information. This past week the analyst who issued the 57 cent estimate for 1998 put out a revision. She now calls for 47 cents per share, but maintains her BUY recommendation.

Reasons for the downgrade are refinements of her estimates with more information from the Mercy acquisition. The numbers do not include a new contract just announced or potential large manufacturing contracts which look likely but not definite in 1998.

Second, it appears that the recent accident will cause a one-time gain in earnings as the lost helicopter is carried with a depreciated value on the books and insurance will pay replacement cost. The management believes the accident will not affect the business plan and the analyst agrees. BTW the company has cash flow estimates for 1998 of about $1 per share. Because they depreciate the flying stock on the books and the actual value holds steady (as anyone who knows the aircraft business knows) the company generates more value that what shows on the statements.

Finally, Roy Morgan is a founder of the company who has been slowly selling his stock since he left an active role several years ago and continues to do so irrespective of the business. Check to see that he sells 5000 shares each quarter unless the stock is below $3.

I am curious about this thread. What is the Stocks With an Attitude Team?

Elliot
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