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Microcap & Penny Stocks : Abatix - ABIX
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To: Bob Davis who wrote (52)8/17/1998 1:37:00 PM
From: Bob Davis  Read Replies (1) of 62
 
On July 31st, ABIX issued a Press Release
announcing a 58% increase in earnings, to $.19 per
diluted share, versus Napeague Letter projections
of $0.14 for this quarter.

This substantial "earnings surprise" was largely
the result of reduced interest expense due to
maintaining better controls over inventory and
receivables, and efficiency gains in selling
expenses. I am waiting for the Company to file its
10-Q Report for the quarter with the SEC before I
update its Analysis, but I suspect that its
theoretical valuations will remain at least in the
$7.00 area.

Abatix Environmental Corp. (NASDAQ:ABIX) markets
and distributes personal protection and safety
equipment, and durable and nondurable supplies to
the asbestos and lead abatement, industrial safety
and hazardous materials industries. In addition to
these products, the Company also distributes tools
and tool supplies to the construction industry.

An updated Summary and an in-depth Analysis of ABIX
can be found on the Napeague web site at
napeague.com. I encourage you to read
the entire Analysis as well as the Company's
investor relations information and its reports to
the Securities & Exchange Commission prior to
making any decision to invest in this or any other
Company.

Bob Davis
The Napeague Letter
napeague.com
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