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Biotech / Medical : SABRATEK CORP (SBTK) -- Ignore unavailable to you. Want to Upgrade?

To: Pluvia who wrote (221)	6/28/1999 12:32:00 PM
From: Peter V	Respond to of 487

Gawd - put some clothes on, will ya??!?! I'm beta testing the "New SI" and it's got this video-phone feature and I'm tired of looking at you in those torn, striped boxers. And tell the guy in the bikini briefs that he needs to lose some weight.

To: Pluvia who wrote (221)	6/28/1999 9:51:00 PM
From: mod	Read Replies (2) \| Respond to of 487

Another review (see below) of the Milberg Weiss/Pluvia allegations that finds them to be bogus. Pluvia did no checking of the allegations on his own before plastering them all over SI and Yahoo, all he did was parrot the Milberg Weiss lawsuit word for word. Wonder how much that will cost Milberg/Pluvia for defamation? Where is the auditor resignation Pluvia? Where is the trading halt? mod (FB)PM Call: SBTK: Noisy Allegations Apt to be Muffled Over Time 6/28/99 16:49 CREDIT SUISSE FIRST BOSTON CORPORATION Equity Research Americas Ann Barber Brian Macauley BUY Sabratek(SBTK) Noisy Allegations Apt to Be Muffled Over Time; Reiterate Buy. Summary A series of field checks suggests that the "noise" we have been hearing on the recently amended lawsuit is apt to be mostly that - noise. Little has arisen that causes us to raise any caution flag about Sabratek's past business practices. Our checks included discussions with most of the company's independent distributors as well as suppliers identified in the complaint. And, a check with Sabratek's auditors refutes suggestions that their opinion is likely to be pulled as a result of past practices. Thus, we doubt that any jury would ultimately find the company guilty of accounting fraud or systematic inventory manipulation. While this issue could overhang the story for a while, we think investors will soon turn their sights to Sabratek's promising Virtual Hospital Room concept. The anticipated mid-July acquisitions of MOON and GDS could signal that several contracts are coming that could help transform this concept into a profitable business initiative. Second quarter business trends are apt to mirror the difficult first quarter, particularly in the pump business where sales could be down sequentially. That said, our $0.07 EPS estimate still appears solid. We reiterate our Buy rating on Sabratek common. Potential catalysts include the pending acquisitions of MOON, GDS and SRS, additional CMS and CIH contracts, and agreements to commercialize MOON and related technologies. Investment risks include disruption in the alternate site market from HCFA reimbursement changes, working capital management, and execution of the VHR strategy. Price Target Mkt.Value 52-Week 6/25/991 (12mo.) Div. Yield (MM) Price Range USD 21.00 $30 - - $194 $34-13 Annual Prev. Abs. Rel. EV/ EPS EPS P/E P/E EBITDA 12/00E $1.40 15.0X 60% 7.3X 12/99E 0.73 28.8 108 12.1 12/98A 0.70 - - March June Sept. Dec. FY End 1999E $0.07A $0.07 $0.23 $0.37 Dec. 31 1998A 0.17 0.20 0.23 0.10 1997A 0.11 0.15 0.18 0.22 ROIC (99E) 17.0% Total Debt (3/99) $85.0 mil. Tan Book Val/Shr (3/99) $2.37 WACC (99E) 10.0% Debt/Total Capital (3/93) 59% Common Shares 9.8 mil. EP Trend2 Positive Est. 5-Yr. EPS Growth 34% Est. 5-Yr. Div. Growth - 1On 6/25/99 DJIA closed at 10552.6 and S&P 500 at 1315.3. 2Economic profit trend. Sabratek is a leading provider of IV (intravenous) infusion therapy products for the alternate site market and an early entrant into the emerging telemedicine opportunity. . N.B.: CREDIT SUISSE FIRST BOSTON CORPORATION may have, within the last three years, served as a manager or co-manager of a public offering of securities for or makes a primary market in issues of any or all of the companies mentioned. CREDIT SUISSE FIRST BOSTON CORPORATION CREDIT SUISSE FIRST BOSTON CORPORATION