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Technology Stocks : Cascade Communications (CSCC)
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To: Amir Shalit who wrote (2404)2/23/1997 3:51:00 PM
From: Brian C   of 3743
 
Amir,

Thanks for your input. This morning I took Cascade and took it's projected profit of $75,000,000 per valueline for 1996 than added back depreciation and than took out capital expenditures and came up with true economic earnings of $67,000,000. I than assumed growth of only 12% over the next 10 years and 6% after that. I than discouted the projection back and came up with a per share value of $32.

I did the same for Cisco and came up with $49. Given that Cascade is, or at least has been, growing at far greater than 12% it would appear to be a steal at around 25. I would not even hesitate to buy except for the sale of shares by the CEO. It just bugs. I mean everything else seems to still be in place, growth industry, competent management, sound product, good margins.

What do you think,

Brian
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