Etec Systems moving up Message Board

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Technology Stocks : Etec Systems moving up

ETEC 0.150

0.0%

Sep 8 5:00 PM EST

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To: jeffbas who wrote (108)	12/6/1996 6:59:00 PM
From: Eric Jorgenson	of 1279

According to Etec's November 20 press release, Etec's backlog at the end of October 1996 was $156 million, up 74% from the same time last year (90 million). Also, a relatively significant revenue stream historically has come from providing service. Etec started earning money in 1994. Earnings growth has been at least 40% since that time. FY 1995 EPS were on the order of 30 cents (roughly). FY 1996 actual EPS were $1.15. Estimated FY 1997 EPS are $1.75 (according to FirstCall). Given the confidence of chipmakers of industry health through 1999 (based on Semiconductor Industry Association forecasts): semichips.org semichips.org I have some confidence in a five year growth forecast of 40% for Etec. Certainly a PE of 25 is justified I think, as a minimum, which may put Etec's price at $45 by July 1997. With Etec's price now in the low thirties, I think the risk/ potential-reward relationship is favorable. Regards, Eric

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