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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO
SYNT 40.990.0%Oct 10 5:00 PM EST
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To: airborn who wrote (2310)12/17/1998 4:06:00 PM
From: JDN  Read Replies (2) of 2761
 
dear Airborn: The reply to your question is the answer. To be more SPECIFIC. The analysts covering SYNT have some kind of hangup on Y2K. Somehow they think that if SYNT LIMITS their exposure to y2k work next year that profits will NOT grow. I think that is kind of nuts, as from the VERY BEGINNING SYNT stated that they would not allow y2k business to exceed 20% of revenue as it takes away from their development of continuing business. This year they will do about 18% and have stated it may be less in 1999. SO, the analyst refuses to raise 1999 earnings projections which now are approximately the same as what 1998 ACTUAL will be. The huge growth in revenue AND EARNINGS was not entirely due to Y2K as Y2K was only 18% to begin with. My impression of this Management is that they are not going to let employees sit around a twiddle their thumbs just to NOT DO y2k. They obviously think they will be busy on other business. But if they were not to be busy I am sure Management would rethink its Y2K philosophy. Now here is why its NUTS. IMRS a similar company only HEAVILY into Y2K has publicly announced they are doing all they can to get OUT of Y2K business and into continuing business. This means IMRS has to pretty much start from ground zero as in their case the MAJORITY of their work was Y2K. So IN THEIR CASE the analyst RAISES their earnings outlook. Something doesnt ring true here. I think this is one hell of an opportunity when SYNT will blast through the analysts estimates for 1999. JDN
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