BYX- Bayou Steel Message Board

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Microcap & Penny Stocks : BYX- Bayou Steel

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To: Jayne Furman who wrote (67)	8/3/1998 10:58:00 PM
From: Jim Cunningham	Read Replies (1) of 101

I know the feeling. BYX did announce in their last 10Q that approx. 8 mil would be charged off this qtr . I calculated about a $.58/share charge, so if earnings equal last qtrs we should see an overall loss of about -$.24/share. Presumably we'll be left with better financing, plus the retirement of the preferred should amount to $.04/share more going to bottom line earnings from here on out. This is a one-time charge so things should get better (unless the economy tanks.) I'm still in. At $5 we're below book value, for what it's worth in this crazy market.

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