SRDX - SurModics - Biotech IPO Message Board

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Biotech / Medical : SRDX - SurModics - Biotech IPO

SRDX 28.12

+2.5%

9:30 AM EST

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To: Will Preska who wrote (3)	4/27/1998 10:43:00 PM
From: Donald carlson	Read Replies (1) of 84

Will, My initial guess on performance was 30% on revenue and much higher on earnings due to margin growth. Looks like one can rough estimate earnings from revenue. CO looks to have about $6M to write off before they pay tax. From 2nd quarter earnings they got qtr/qtr gain on revenue >30% so I may be a piker. It would appear that royalty revenue should be a very solid source that comes in consistently once established. I'm assuming the company wanted the IPO for liquidity so will want the stock to perform well. I haven't seen any real use for the funds. As such I would expect that SRDX management timed the issue to get good stock performance. Hope so anyway. Regards Don

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