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Gold/Mining/Energy : Trailmobile Canada TMX (formerly MII)
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To: carter, p who wrote (52)3/22/1998 1:07:00 PM
From: JOE TURMAINE  Read Replies (1) of 406
 
paul, I think that if MOND had earned $0.04 in '97 there would have been dancing in the streets. I believe they expected their entire work force to remain when the company relocated and consolidated operations under one roof. This did not happen, they were forced to train a large replacement team. Bill Surphlis was the right person for the job. Training does not come cheap, we will probably see that they lost in the neighborhood of $0.20 per share in '97.

I would like to have seen better, but they are rolling now! October & November were good months, December being Christmas wasn't likely that great a month, January should have cleaned up all of their low margin contracts, February & March they should have no excuses for. I would expect (and this is entirely my own opinion) a minimum 2-3 cent per share profit for the quarter ending March 31st. They will most likely publish those numbers along with '97 year end to highlight the turn around in financial status. I personally would be disappointed if we show anything less than a $0.10 profit per share for 1998 and I hope that management is shooting (unofficially) for $0.15-.20

At $0.15 @ 10-20x earnings for a legit TSE mfg company doing $100 million in sales that put the share price back on the road @ $1.50 - $3.00 by this time next year. With a respectable first quarter and some decent press coverage and PR it could happen sooner. IMO

Good luck. JOE
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