American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

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To: srvhap who wrote (2441)	5/8/1998 12:06:00 AM
From: david james	of 2841

Because of the hit on the costs of the debentures, U.S. GAAP was significantly lower than Canadian accounting. However, U.S. GAAP earnings might be higher in 98, since they will still be paying for the debs over the next 9 years on Canadian accounting. I wonder what would have happened if McGinnis had promised 90 cents in 97. That 10% growth might still have produced a P/E of 15 or so, and then beating estimates may have pushed us higher. Shows the importance of the psychology of the stock market over the fundamentals. Lets hope that they are underpromising in 98. David

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