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Technology Stocks : Egan Systems (egns)
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To: stuart haven who wrote (437)12/19/1998 9:56:00 AM
From: Pendretti  Read Replies (1) of 463
 
Stuart, I agree with you. People don't understand what is going on and everybody is disappointed that they don't make the 4 mio this year in sales. Ed has been wrong about the tool sales which he expected to be about 2 mio. this year. Next year he expects (but it is still only an expectation) that the tool sales will catch up because time is running out.

China is really big, EGNS is only one of the 4 companies allowed to do business over there. IBM can't do it, CA couldn't do it. That is why CA has now a way in through EGNS.
And the CA tools are important to EGNS so they can do every job over there. Now they are bidding for a 20 mio dollar contract, that is 20 times as big as the total revenues of last year. Ok, it is in the JV but it shows what EGNS is up to.
China is just starting, these things take time, and it is good that Ed realizes that he needed help to do the job in China, they are going to train people and someone will be put there to handle business.

They are also working on the Daimler-Chrysler contract now and if they finish that they will be able to show others what a good job they can deliver.

I am very confident with what they are doing now. Look at the last quarter and this quarter also, the company is starting to grow very fast now.

Next year we will see a sharp rise in price again. When the company is bigger it will be able to merge with another company or do a take over. And it will always be a take-over candidate

Any comments?

Rene.

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