TCMS - Transcoastal Marine Message Board

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Non-Tech : TCMS - Transcoastal Marine

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To: Robert Floyd who wrote (77)	4/28/1998 6:16:00 PM
From: 007	Read Replies (2) of 201

Great earnings! Hey, they only beat by a penny, but 50% sounds better. <ggg> What's even better are the positive comments going forward. I hope they give out some backlog numbers in the conference call tomorrow. I know they have a pipe laying backlog. From the release, I get the impression that they could have done better if it were not for the delays caused by factors beyond their control. Hopefully, things will be smooth going forward so that they can beat the $1 annual eps estimate. RIG is looking as solid as ever and TCMS will be trying to mold their current work with RIG into a long-term consistent relationship. Fingers crossed. I don't expect huge moves on this announcement, but a rally to 14 is possible. If we do rally to 14, then it is unlikely that we'll see 10 again. I would prefer another drop to 10 to pick up more. The real fun will begin when we get over the resistance at 14. We're still below book value and this company represents excellent value with a projected eps growth rate of 50% for 1999 (this year's growth is much higher). Both of its business areas, pipe laying and fabrication are hot, and provided nothing interferes with the plan, this should be a great performer over the coming year. 007

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