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Biotech / Medical : Biosource International

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To: Frank Brisebois who wrote (60)	3/5/1997 9:45:00 PM
From: Timothy Grimes	of 696

Interesting action today. Yes, BIOI missed the First Call mean EPS for the quarter by $.02 and the year by $.04, they did meet the low end of the estimates. However, revenues were extraordinary at almost a 100% increase over 1995. I believe this tremendous increase in revenues was the reason for the move up today. The company had already warned us of the charges they would take in the last quarter so this was built in to the low price BIOI is currently trading at. We have nowhere to go but up from here IF and only if no further dilution occurs and earnings are strong this year. We should know very soon when they report the first quarter if this is BioSouurce's year. If they are on track then Wall Street won't be able to ignore the fact the BIOI is trading at a 50% discount to '97 estimates. I too am a strong supporter of the management team and look forward to this year's activity. I think they will have the shareholders meeting in June or so, any one else plan to attend? Best, Tim

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