Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Tomas who wrote (38844)	3/3/1999 9:29:00 PM
From: Gary Burton	Read Replies (1) of 95453

re VTS---Merrill reduces estimates again to 93c fiscal 99 (from 1.10) and to 80c in fiscal 2000 (from 1.00)--says "at $9, we believe VTS represents an excellent value play.VTS is currently trading at approx 65% of book value and 95% of book value ex-data library. Its 2000E P/E,PCF and EV/EBITDA multiples of 11.3,2.4 and 3.5 are all well below VTS' historic average trading band" ..."we have maintained our fiscal 99 Q4 revenue estimate of $28.5mm due to our expectations that oil company spending will gradually resume in the second half of 1999".......(they said on the CC that their rev will pick up about 6 months after a jump in oil prices)

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