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Gold/Mining/Energy : Bridges.com (T.BIT)
BIT 13.24+0.3%Nov 6 4:00 PM EST
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To: Rick Adrian who wrote ()5/11/1999 9:10:00 PM
From: jocelyn  Read Replies (2) of 1249
 
April's sales increase Bridges.com's subscriber base
to over 3,600 middle and secondary schools across North America.
Looking at the AGM report, their 99 target is to double the (as of end of fiscal 98) 2259 subscribers to 4500.
Out of the above statement, we see that more than half of their target is already acheived and only 5 (considered to be slow) months are over.
It seems reasonably conservative to project the same type of sales for the rest of the year, considering that their biggest sales month are still ahead.
So if we sold 1400 new sites in 5 months, we can expect 3360 new sites for the year. Add to that 90%(historical resubscription rate) of last year 2259, we get to a total of 5400 sites at the end of the year.
Current company's revenues projection is 5M for 4500 sites and 2.3M in expenses. If we linearly project that to the 5400 sites calculated above we would be in for 6M in revenues with 3.25M in earnings before amortization and taxes.
Amortization has been around $350 000 for the last two years so lets assume it stays the same.
If we remove a 20% for taxes, net earnings would be around 2.3M.
Dividing that by 9.5M shares, we would get a 24 cents/share.

Please feel free to add your comments to this analysis.

JO$H
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