PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

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Oct 29 5:00 PM EST

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To: Melissa McAuliffe who wrote (2427)	10/2/1998 7:27:00 PM
From: GJD	Read Replies (1) of 4509

C. Phillips in his research report said he expects PSFT will not meet his license revenue growth target of 46%. He now expects growth of 42% for 3rd Q and 38% for 4th Q. For '99 he expects license revenue growth of 36%. He cut his '98 eps by 0.01 to 0.64. (IBES est is 0.66). Doesn't look like a disaster for a stock that is down from 57 to 24. The market always overreacts on the upside and downside. If the above is true, this is more an overreaction in a bad market. We'll have to wait for the Co. to report and provide some visibility into '99. At that point the market will get a better feel for license growth rates. Lehman still expects ERP market growth of 35%, PSFT should easily grow faster than the market.

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