ABR Information Services (ABRX) Message Board

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Biotech / Medical : ABR Information Services (ABRX)

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To: Russ Parker who wrote (113)	6/10/1998 10:33:00 PM
From: Jim Mac	Read Replies (2) of 156

ABR's good earnings are in, but they're not what they seem. If you eliminate the one-time acquisition charge (increasing operating income), and subtract the non-recurring lease revenue on ABR's old property (which will decline throughout the year and end in early 1999), you get the true picture of what's happening. The "clean" numbers give diluted EPS of $0.15, up 36% from last year. That gives ABR "clean" annual diluted EPS (July) of $0.58 - $0.60, since recent acquisitions won't add too much to EPS for a while. That puts ABRX, with its steadily decelerating true EPS growth rate, at "fair" value of maybe 35 times $0.60, or $21.

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