Den, very good results indeed. I don't think the following DJ article on MAL has been posted. Though it is a bit out-dated (May 4), written before the acquisition of Chicopee, it does provide some info on analyst estimates and expectations, and there's also mention of a big contract coming.
MAL - Toronto
Analysts are also looking for strong growth at Magellan Aerospace Corp.
(T.MAL), partly on the strength of higher revenues following the company's
acquisitions of Orenda Aerospace Corp. in May 1996 and its more recent purchase
of Bristol Aerospace Ltd. in July 1997.
Greg McLeish, analyst with Octagon Capital Canada Corp., said he's impressed
with the speed with which Magellan was able to integrate the two acquisitions.
He's looking for net of between 9 Canadian cents and 10 Canadian cents a
basic share for the first quarter ended March 31, up from 5 Canadian cents a
year earlier. However, McLeish added that the company's earnings could come in
even higher than that.
Analyst David Tyerman of Loewen Ondaatje McCutcheon Ltd. said he's expecting
first-quarter net of 12 Canadian cents a fully diluted share for Magellan,
compared with 4 Canadian cents a year earlier. The company is expected to
report its first-quarter results in mid-May.
Further into 1998, Magellan should benefit from a large contract signed by
Bristol worth almost C$100 million. The contract, from Boeing Canada Technology
Ltd., a unit of Boeing Co. (BA), is for composite panels for wing and tail
sections for the next-generation Boeing 737, Tyerman said.
Both Tyerman and McLeish said Magellan is looking for acquisitions. McLeish
said the company could be looking at one small tuck-under acquisition and a
larger one, but Tyerman said he isn't expecting a large acquisition very soon
because of inflated valuations in the sector.
(MORE) DOW JONES NEWS 05-04-98
02:25 PM |
