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Technology Stocks : Tridex Corporation

TACT 4.710

-0.4%

Oct 31 9:30 AM EDT

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To: Phil Ancona who wrote (6)	1/25/1997 8:33:00 PM
From: David Bauerle	of 49

Thanks for the info Phil. The Shares outstanding was according to Tridex's 3rd Qtr report as of 09/28/96. If your estimate of $3-5 is correct, then TRDX should currently be trading at $17-19 with respect to TACT's price of 14. Also noting your 98 estimate of TACT being $1.10, a 98 price of 22 would bring its P/E to 20, but since PEs almost always reflect future growth in smaller companies I would think TACT should be currently trading just under $20. As a further note, TRDX is only owned buy a handful of Funds. I'm not sure if this is true for TACT, but should institutional investors start to notice TRDX or TACT we should get an additional lift in price. Assuming there is a significant selloff of TRDX after the X-date, it may create an additional buying opportunity. Do you know what the estimated earnings of Ultimate and Ribbon are? Is your $3-5 value of TRDX based on the earning of these two subsidiaries?

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