Cybex (CBXC) Anyone watching? Message Board

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Technology Stocks : Cybex (CBXC) Anyone watching?

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To: Thom A. Shulok who wrote ()	2/12/1998 10:03:00 AM
From: Tony Taccone	Read Replies (1) of 57

I am watching CBXC and loving it. EPS came in at $.36 for fiscal third quarter, on sales of $12.5 mln. EPS for last four quarters is now at $1.30, vs the estimate of $1.31 for the year ended March 1998. This is a very strong showing by CBXC and suggests a significant upward revisions of EPS estimates. Seems FYE March 1998 will come in at more like $1.44 than $1.31. As for next year, I expect CBXC will earn close to $1.90. Why? Over the last 8 quarters, revenue has grown on average by 9% per quarter. To be conservative, assume revenue grows at 5% per quarter going forward. Before factoring in the Elsner acquisition, this suggests a revenue base $56.6 for next year. The Elsner acquisition should add at least $9 million in revenue, bringing total sales for the FYE March 1999 to $66 mln. Even if net margin drops slightly to 16%, CBXC would earn $10.6 million. This work out to $1.89 per share with 5.6 million shares outstanding. This analysis suggests a share price of $35-40 for CBXC. Look for a strong move today and upgrades of EPS estimates over the next month. I did these numbers quickly this morning, so comments are welcome.

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