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Technology Stocks : PTEC superiority over Systemsoft
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To: Marc Phelan who wrote (241)10/31/1996 3:24:00 AM
From: steven siu   of 287
 
Appreciate reading the responses from Mark and Marc.

Not to be a stickler, but the price/earnings to growth ratio strictly compares the p/e ratio to the earnings growth ratio as the name of the formula implies. See the Unconventional Wisdom column in the October 1996 issue of Smart Money for more details.

However, I agree with you both. Based on other valuation methods, PTEC is still cheap. You're right Marc, they have a ton of cash - $57million worth. That's almost enough cash for them to have zero revenues for nearly an entire year and still pay all the expenses. You're right too Mark, they are only trading at a lowly 3 times book value. Perhaps that's why the stock moved up to 16 7/8 today. There's other people who also realize that PTEC is still cheap.

Does anybody know what percentage of PTEC's revenue is made up of PICO sales? I read a note on the conference call that said PICO sales grew by 90% last year.

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