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Technology Stocks : Elamex(ELAMF)

ELAMF 2.150

-15.7%

Mar 7 3:00 PM EST

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To: Ron Bower who wrote (170)	2/24/1998 8:48:00 PM
From: David Seltzer	of 276

Ron,eps estimate for 1st qtr is $.07(1 analyst) and the mean estimate for 1998 is $.95(2 analysts), according to First Call.Book value was $7.73 and working capital was $34 million as of 12/31/97.LTD=0 Although diluted eps for the 4th qtr were $.24, I estimate that the number was about $.20 after backing out one-time events,and taking into account a smaller income tax provision. Conference call highlights(1/29/98): 1.Backlog as of 12/31/97 is similar to 4th qtr sales($31 million). 2.Alex Brown and Goldman Sachs were represented. 3.They are still looking at possible acquisitions. 4.Black & Decker is a new customer and they hope to have a large Mexican customer by the end of 1998.Lucent,Nintendo,et al are still customers. 5.Capital expenditures=$13 million for 1998. 6.They received ISO certification for their plastics facilty. I have a position in the company because I think the company is undervalued.However, we will see some real movement in the stock in the 2nd half of 1998(especially if the peso is devalued). Regards, David

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