SPARTECH (SEH) - AN UNDISCOVERED GEM Message Board

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Non-Tech : SPARTECH (SEH) - AN UNDISCOVERED GEM

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To: Labrador who wrote (37)	3/12/1998 8:26:00 PM
From: Paul B.	Read Replies (1) of 66

I agree that the PE does indicate fair market value (or at least is the market average). The market cap to sales ratio reflects that the company is not overvalued. This company has never been a barnburner, just nice solid growth. I feel Spartech should continue to put impressive numbers on the board for the next several quarters (and, hopefully, many years to come). Some interesting tidbits from the report from First Analysis Securities that makes mention of the Polycom acquisition. "Polycom's operating margins of 12% to 14% are significantly above Spartech's current color and compounding operating margins of 8% to 9% . . . Another factor is the $50 million of capital expenditures Polycom made in recent years to provide state-of-the-art equipment and technology at its facilities. Polycom also brings a technical center with a 15-member R&D team. This will quadruple Spartech's current five-member compound and color technical staff." See you next year, Jane. I doubt if I'll make LB's meeting this year. Give us a report if you're still with them.

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