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Biotech / Medical : SRDX - SurModics - Biotech IPO
SRDX 27.44+1.0%Oct 31 9:30 AM EST

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To: Will Preska who wrote (5)4/30/1998 8:55:00 AM
From: Donald carlson   of 84
 
Will,
The 30% I referred to was an initial SWAG for yearly revenue. Longer
term I would expect them to continue to do well. Kennards (on first call) had an initial projection on earnings of 14 cents 98, 24 in 99. I noticed they have updated to 17 cents for 98 and have not adjusted 99. Looks like they are talking a conservative path.
Margins should increase rapidly as revenue overcomes fixed costs.
I expect to hold SRDX long term unless the price gets out of line.
Regards
Don
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