PROGRAMMER'S PARADISE (PROG) Message Board

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Technology Stocks : PROGRAMMER'S PARADISE (PROG)

PROG 0.146

+6.5%

Jun 13 5:00 PM EST

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To: Chris O'Keefe who wrote (246)	1/14/1999 5:19:00 PM
From: Bill J. Landis	Read Replies (1) of 2383

re: figuring earnings to be $1.20 This was touched upon, but not emphasized enough that I would have understood if I didn't know it already ... The main reason you can't really take the .30 earnings for this quarter and multiply by 4 to get a $1.20 annual earnings is that many sectors are cyclical so that earnings for some quarters are consistently higher than others (I think some companies may even consistently LOSE money 2 or 3 quarters of the year, but come out with positive annual earnings because 1 quarter is always huge). I haven't done a ton of research on it, and as was mentioned, PROG's earnings depend largely on when key software products are released, but my gut feeling is that 4th quarter may tend to be higher than the other three, so while >$1 is definitely reasonable, $1.20 may be a bit overly optimistic (although I'm not one to argue with Zeev). Now I only wish I had more cash on hand for these wholesale prices ;).

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