Complete and total lunacy. It has been my experience, reinforced by today's price action, that most of the people who play in the markets are complete idiots. They are loons who either cannot read, or refuse to do so. So New D's earnings only went from $0.24 in Q4 '96 to $0.27 in Q4 '97, right? Bull! People, learn how to read! So many people zero their pea-brains in on the bottom line that they do NOT see what is REALLY going on with a company. But it should not surprise me. These are the same nitwits that think a P/E ratio is some magical, mystical force handed down from God. Operating earnings were UP 70%! Pre-tax earnings were UP 71%! The tax advantage last year ('96) that added $0.08 or better to earnings, which should be taken with a grain of salt, were not present this year ('97). But, do you really give a rat's ass about a one-time NOL carry forward? No! No! NO!! You SHOULD care about growth in operations. Operating results, product sales, and maintenance revenues are all up very nicely. More importantly, the company has signed some very nice cooperative agreements over the last year, including one recently with Anacomp, who has seven times our customer base. Also, the Anacomp and Oracle relationships, both announced within the last couple of months, were talked up very nicely in the conference call today. Then there are the excellent prospects for the new Tandem line, with its existing 450 customers.
Next, look to the earnings estimate by Oppenheimer. New D came in basically on target. Thus, the Oppenheimer analyst's estimate were right on. These same accurate analysts are predicting.what.$1.29 for 1998? And $1.84 for 1999? And those estimates were made without ANY knowledge of there being an Anacomp or Oracle relationship in the works, and now finalized. Do people really think that these relationships are NOT going to produce lots of new revenue and customers??
Look at it another way. Over four years ago this stock hit $25. Is anybody out there going to tell me that they are a WORSE company today? Is anybody going to tell me they have LESS potential than they did four years ago? Yet, the company is being valued like a dog, instead of one growing at the pace they have been growing. It is pure bullshit.
I take comfort in knowing that the same kind of dumb asses that sold it a couple of years ago, when it would fall from $8 back down to $5, are selling it today. If they only could have read, they would be up in the stock big time like some of the rest of us are at present. In the future, this stock will be way up, and today's dumb asses that are selling will be sorry then, too. |
