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Biotech / Medical : ELBIT MEDICAL IMAGING - EMITF - U.S. OTC
EMITF 0.05000.0%Jan 2 9:30 AM EST

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To: peter michaelson who wrote (26)4/1/1998 12:00:00 PM
From: peter michaelson  Read Replies (2) of 79
 
Fred: My methodology shows a value for Elbit's stake in Elscint at from $1.12 to $2.88 per share.

Method 1: Elscint operating income of $5.5 million times 10 P/E less $12.0 million debt = value of $43 million times 55% = $24 million divided by 21.5 million EMITF shares = $1.12 per share.

Method 2: Elscint share price of $7.00 times 16 million ELT shares = $112 million times 55% = $62 million divided by 21.5 million shares = $2.88.

With all the uncertain prospects at Elscint, personally I feel the $1.12 is full value.

I can't attribute a lot of value for Elscint. Just my humble opinion - and open to new viewpoints.

Peter
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