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: Bill J. Landis who wrote (251)	1/14/1999 10:14:00 PM
From: Larry Brubaker	Read Replies (1) of 2383

Bill, actually Zeev could be conservative in estimating $1.20 per share (even considering the mean analyst estimate is .80). Zeev's 30 cents per share estimate for the 4th quarter '98 assumes they will reinvest about 18 cents per share of profit from this quarter (lowering what otherwise could be a 50 cent/share quarter) into additional SG&A expenses, with the intent that this investment will further increase future sales. Assuming sales increase another 30% in 1999, and assuming gross margins do not decline further, and assuming Zeev's additional SG&A expenses remain throughout 1999, the company could easily earn the $1.20 Zeev has suggested. If sales increase more than 30%, or if margins improve (e.g. if presumably higher margin internet sales become a higher proportion of total sales), they could very easily earn more than $1.20 in 1999.

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