I thought the best way to respond to that was to post a message put into the ECGOF folder on AOL tonight.
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Subj: Michael E McGinnis
Date: 2/9/97 7:05:01 PM
From: CapitalGNS
He may not be the best in* working the street* like a Kim Edwards but boy can this man
DELIVER.............
Joins AEC in 1993, {In 1992 AEC had rev of $ 900,000 eps of -1.50}
First year there 93 rev of 7,600,000 eps of .07
94 becomes CEO rev of 35,000,000 eps of .15
1995 rev of 46,700,000 eps of .40
1996 rev of 119,529,000 eps of .81
1997 est rev of 260,000,000 eps of 1.20
1997 {his personal goal of REV of 350,000,000 to 400,000,000} and 1,000,000,000 by 2000
Also a man of his word..........
On Nov 12,1996 M.McGinnis stresses that .80 cents a share would be achieved in spite of rumors in the marketplace that AEC will fall short of that amount.For fisical 1997, McGinnis
said net income of about $1.20 is " VERRY ACHIEVABLE"
Well let's see if 1.20 is "very achievable" to get 1.20 we need about 260 in revs
core business grows at about 20% a year so 120,000,000 x 20% = about 145,000,000
145,000,000 existing business
92,000,000 from ChemPwr {they must grow a little, since they have 32mil in backorders}
15,000,000 from the New Recycling Facility
???????? from CVG International joint venture {what I hear is contracts will start in six months
look for them to be BIG in size and profit margin.....}
so without any rev from CVG or any new contracts that may be announced we have about
252,000,000 in rev DO YOU THINK McGinnis is going thru 1997 without one MAJOR acquisition
that would probably make ChemPwr look small......I don't Remember what he said
on Wend. "We are extremely motivated by 1997's prospects,and look ahead to the various
expansions opportunities,which we as management team feel are well within our grasp"
My # above may be wrong BUT IMHO 260/1.20 FOR 1997 is no problem I'm concentrating on
his goals of 350 to 400 for 1997
C.J./NYC
P.S.
Michael E. McGinnis, President & CEO of American Eco, stated,
"Revenues of $120.0 million for 1996 are a result of significant
internal growth from the synergy of new cross marketing
opportunities and the geographic expansion of American Eco through
acquisitions in the last two quarters. We are extremely motivated
by 1997's prospects, and look ahead to the various expansion
opportunities, which we as a management team feel are well within
our grasp." |
