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Gold/Mining/Energy : Dorel Industries (DII.B , M or T) good earnings report -- Ignore unavailable to you. Want to Upgrade?

To: Jay Anderson who wrote (76)	2/17/2000 3:06:00 PM
From: Jay Arkay	Read Replies (1) \| Respond to of 96

Wow, eye-popping results for Q4 and full year. Thanks, Jay for posting (you beat me this time--apparently, you're the faster Jay!). I had earlier offered my personal prediction that Dorel would earn at least 50 cents per share in each of Q3 and Q4, and they have blown way past this in Q4, with 61 cents (58 cents fully diluted). My earlier estimate for the full year earnings was $1.80 to $1.85, and they have also blown well past this at $1.99 per share ($1.91 fully diluted). Note that EPS year-over-year growth was a stunning 45 percent, and this is BEFORE deduction for the large restructuring charges Dorel incurred in 1998. I will now "modestly" and conservatively forecast year 2000 EPS of AT LEAST $2.50 (heck, annualize their Q4 earnings and you are practically there already), but wouldn't be surprised at $2.70. Icing on the cake: Dorel Chief Schwartz says the company is working on additional new products and is actively seeking a further major acquisition. Dorel is really a growth company, a superbly managed one at that, and it well deserves a PE ratio on past earnings well above 20, maybe even 25. But look where it's trading now, a PE of just 13. Once the high-tech mania subsides, and investors allocate their funds (what they have left after high-tech-dot-com implosion) in a more rational and sustainable way across industry sectors, Dorel will really shine. Talk about UNDER-VALUED! Jay