NORTON DRILLING (nort nasdaq) FORMERLY DSIC Message Board

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Gold/Mining/Energy : NORTON DRILLING (nort nasdaq) FORMERLY DSIC

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To: lostmymoney who wrote (216)	2/18/1998 10:06:00 PM
From: ChrisJP	of 295

It's hard to believe that it took a .60 rise in oil futures to bring buying into NORT. This calculation was posted on Yahoo! From www.wsrn.com enter NORT symbol and then under estimates & earnings click Ratio & Earnings Report: Quarter: 12 MOS REV: 10.3M 33.5M Net Income: 2.3M 3.5M EPS: .09 .11 Of course for the 4th quarter, NORT had to pay taxes out of the earnings. Looking forward and assuming zero revenue growth for the next 6 months, this looks like a revenue of (.090 +.081) times 2 equals .342 before tax earnings for 12 months. If taxes are double what they just paid then net earnings look more like .214 for a 12 month period with revenues and expenses comparable to the last six months. So if we can expect forward earnings of .21, even a measly PE of 15 would put NORT at over $3. Regards, Chris

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