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Technology Stocks : Elamex(ELAMF)

ELAMF 2.150

-15.7%

Mar 7 3:00 PM EST

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To: John Gault who wrote (179)	3/12/1998 10:25:00 PM
From: David Seltzer	Read Replies (2) of 276

John-I spoke to Carlos Martens,CFO,this week.I have summarized our conversation. 1.Wages increased by 17% on 1/1/98 as a result of government policy. The loss of a large customer to Asia and the wage increases are the principle reasons that 1st qtr eps will come in at $.09.The loss of this large customer will be made-up for by new customers in the 2nd, 3rd and 4th qtrs. 2.Eps for the year should be in the neighborhood of $.88,including a $.10 per share loss for Optimag,a recent start-up acquisition. 3.Orders are coming in for the 2nd qtr from the new Mexican customer (mentioned in my last post). 4.The company is on the prowl for acquisitions that make good business sense(see my last posting). 5.Management's goal is to grow by 20% per year. I think mgt is straight-forward,confident and smart.At these prices I can't see much downside risk unless Mexico's economy goes into a tailspin. David

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