ICO (Inacom) LeadingTech Mgmt Services Co Message Board

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Technology Stocks : ICO (Inacom) LeadingTech Mgmt Services Co

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To: Craig Schilling who wrote (219)	1/29/1999 5:11:00 PM
From: Craig Schilling	Read Replies (1) of 274

Since I did a lot of whining on the last message I thought I better state my reasons for a $10 bid on the stock. After reading the prospectus of the merger with VST one discovers that the current valuation of ICO was too high and and is closer to $10. To keep a long story short with some rough estimates, the dilution of shares and added net income in the combination with VST one gets approximately $30 million divided by 45 million shares or .67 cents per share earnings FY98. With an industry multiple of between 15 and 20 that puts the stock value between $10 and $13. Since there appears to be an arbitrage going on in the share prices I wouldn't be surprised to see the price touch the low side of the estimate. If your really interested in all the fine details read the Yahoo ICO board.

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