American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.705

-5.3%

3:31 PM EST

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To: Louie Romano who wrote (2205)	3/23/1998 12:06:00 PM
From: Bruce Rogers	Read Replies (1) of 2841

>>>>>>Analysts, may have calculated the EPS incorrectly. Amer. Eco. reports earnings in Canadian dollars according to Canadian GAAP rules and in US dollars this means lower earnings, thus missed expectations.<<<< The "expectation" which was missed was MANAGEMENT'S $1.20, repeatedly "confirmed" right up until the results were announced. The cause of the miss was NOT because an analyst was using the wrong currency.

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