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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: make.it.co who wrote (399)7/13/1998 1:57:00 PM
From: DownBig  Read Replies (1) of 1571
 
Thanks for the feedback - in response to the comments

1) If Geac's earnings were really $0.62 after tax and special restructuring benefits then there really is a problem. That would imply earnings of approx $38M for the 4th Q. Geac reported $44.5M ($53M including tax benefits) or $0.74 EPS before unusual items and tax benefits - see the website for details.

- If anyone can get evidence i.e. analyst reports to clear up this point - that would be great. I listened to the conference call and never did I hear the number restated as low as $38M.

2) If Sadler retakes the helm that would be great, although very unlikely. Nelson is a great numbers guy but the way he handled the 4th Q conference call he is better suited as CFO rather than CEO. I would like to see a real maketing/sales/strategic president who is focused on growing the business and capitalizing on growth opportunities rather than one who is interested in keeping his receivables small.

3) The chart does look ugly. I'm hoping that it will base around it's current price of $40. Any significant move lower would be really bad.

4) If an offer was made for Geac that would be great! Although I doubt it very much because Geac is composed of several different types of software companies. Alternatively, Geac could enhance value by spinning off it's higher growth divisions into separately traded companies. Again, unlikely due to probable complexity of such a transaction. I think they will continue to look to make a large acquisiton and list on Nasdaq this year.

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