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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued
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To: John S. Sturges who wrote (232)2/1/1998 10:02:00 AM
From: Grommit   of 547
 
You postition has changed a bit in 5 days.

Message 3275049

I agreee that raising equity to fund the acquisitons is delayed, but it seems to me that counting the preferred as debt and playing that up in the write-up is a bit of a stretch since the convert price is $28+.

It will be very difficult for them to double their business in '98 without acquisitions..

In your new report, you have thier revenue at $408 million in 1998. 1997 was $210 million. Seems about double to me. How much in acquisition do they need to hit the $400 million?

Let me try... Kirby is said to add $24 Million and the other is $90 Million. Were are over $300 million. Have new boats coming on line.
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