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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (2920)	1/9/1998 8:56:00 AM
From: Richard Barron	Read Replies (3) of 78704

Paul, This morning is a good example of value to me. QGLY has 40 million in sales the first 9 months versus less than 1 million last year. The company has earned .73 versus a loss last year. The stock price has dropped 30-40% in the last 2 months. Today they announced a stock buyback since they feel the company is undervalued and they have almost no debt. Percentagewise it's only a 1 or 2 % buyback, but this is the first year that they have been profitable. The current P/E should be less than 15 x 1997 earnings and maybe as low as 10 x 1998's earnings. They will have competition at some point, but as of now, momentum seems to be with QGLY in lightof last months approval to sell cold-eze to the military. Richard

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