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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI)

IFCI 0.0600

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Jun 7 5:00 PM EST

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To: M. Frank Greiffenstein who wrote (1382)	11/18/1998 4:32:00 PM
From: Trippi	Read Replies (1) of 3541

Doc -- I think your TAVA comparison is a fair one. In many respects they are similar -- but you hit the biggest difference -- no time crunch with IFCI. Also management did not say they can't grow -- they said they are growing as fast as they can -- and can't grow faster because of lack of skilled workforce. Also TAVA is expected to actually decline in EPS as we near 2000 -- where IFCI is expected to do 45 cents in FY98 and 70 cents in FY99 -- 55% earnings growth and a forward PE of 11 -- those numbers are in TAVA's dreams -- seems to me that IFCI is actually closer to THQI in terms of valuation -- when THQ was in the 7's after the secondary. even if IFCI just makes 45 cents this year its means its trading at just 17 times earnings. Bottom line -- TAVA is in a dead end market with a certain time limiting factor -- even if it became the leader in its market -- that market will die and TAVA would have to convert to a new market. IFCI is more like THQ in my view. THQ's product -- lets face it sucked -- but it sucked during a period in which its market and platforms were growing incredibly -- IFCI's services (product) is great and the market it plays in is really still in its infancy -- and growing everyday. I see the similarities with TAVA -- but you should not overlook the market condition similarities between THQ circa early 1996 and IFCI today. The difference is IFCI has time to grow and TAVA doesn't. And Doc remember even TAVA made the move to $14-$15. IFCI doesn't have as much hype -- but its just seems management is more grounded and so is this thread. I'm looking for $14 to $15 here in the next 6months -- then I think the comparisons with THQ breakdown unless IFCI addresses its growth problems by then.

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