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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: Mags who wrote (1963)2/27/1999 5:56:00 PM
From: Mags  Read Replies (2) of 8858
 
One mistake from my last post, here are my revised numbers:

- 8.2 cents on an undiluted basis
- 10.3 cents on a diluted basis

I accidentally included October for the 3rd quarter #'s, 3rd quarter actually includes November, December, and January. So here are my revised assumptions, everything else is the same as before:

Licensee Revenues
- 39 million for November
- 60 million for December
- 90 million for January
- 189 million for 3rd quarter as a whole

Earnings
- Starnet revenues = (189)(.03) = 5.67 million
- Starnet gross margin = (5.67)(.80) = 4.54 million
- Starnet operating margin = 4.54 – 1 = 3.54 million
- Starnet net income = (3.54)(.70) = 2.48 million
- EPS (undiluted) = (2.48)/(24,000,000) = .103
- EPS (diluted) = (2.48)/(30,000,000) = .082

Intuitively, these #'s seem on the high side, my gut still tells me between 5 and 7 cents, but we shall see.
Again, please respond with any comments or questions.
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