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To: Cents who wrote (86)	6/15/2000 8:36:00 PM
From: StockDung	Respond to of 199

A blurb from meatloafs post on FUSA By: meatloaf Reply To: 2503 by sailbad43 Saturday, 4 Mar 2000 at 1:24 AM EST Post # of 4572 "As to the FUSA reference in your message, we actually first wrote that up at $4. By the way, earnings and sales came in at precisely our estimates...at a time when no one else was even making forecasts " ====================================================== SECURITY CAPITAL TRADING, INC. UPDATES RECENT ANALYST REPORT AFTER FOTOBALL USA ISSUES THIRD QUARTER RESULTS -------------------------------------------------------------------------------- Story Filed: Monday, November 08, 1999 2:33 PM EST NEW YORK, Nov 8, 1999 /PRNewswire via COMTEX/ -- The following is being issued by Security Capital Trading, Inc., a member of the National Association of Securities Dealers, CRD Number 35909: Fotoball recently reported third quarter operating results that were considerably better than expected. Relative to the year ago third quarter, sales advanced 110% to $9.8 million, while operating profit margins increased to 41%. Operating expenses declined to 31% of sales (versus 36%) reflecting the on-going benefits to shareholders from expense control initiatives begun in 1998. Accordingly, EPS almost quadrupled to $0.18 in the third quarter versus $0.05 in the prior year's comparable quarter. Based upon these results, we are increasing our 1999 EPS estimate to $0.50 (up from $0.45). Fotoball has now reported seven consecutive quarters of sequentially increasing Sales, Pretax Income and EPS. Nine month results show Sales increasing 75%, with Pretax Income and EPS tripling over the comparable nine month results in 1998. As illustrated in the table on the next page, we expect full year sales for 1999 of $31 million (up 62%) and increases in Pretax Income and EPS of approximately 2.5 times. We believe the impressive string of triple digit gains since mid-1998 suggests that FUSA has now back-filled in recovering from prior period weaknesses, and that longer term growth rates will come in at the 40% level ... still a robust outlook. We look for EPS of $0.70 in 2000, then $1.00 in 2001. We have also revised upward our short term target price to $12 - $15 (up from a $10 - $12 target range). This target range translates into a multiple of 25 times EPS in 2000, a time frame which the market will begin to assess in just a few more months. The numbers follow: Fotoball USA (Nasdaq: FUSA) Recent Price: $6.50 52 Week High: 8.00 52 Week Low: 2.00 Shares Outstanding: 3.4 million (fully diluted) Market Capitalization: $22.1 million Insiders Own: 21.5% (732,000 shares) Pretax Earnings Sales Income Mgn Per Share P/E (MM) (MM) 1997 $12.2 ($2.8) n.c. ($1.04) n.c. 1998 19.1 1.0 5% 0.22 30 x 1999 (e) 31.0 2.6 8% 0.50 13 x 2000 (e) 43.0 4.0 10% 0.70 9 x 2001 (e) 60.0 6.0 10% 1.00 7 x Contributing Analysts: Leo Murphy and Tom Heysek For a copy of the report, contact Raymond L. Dirks of Security Capital Trading, Inc., 520 Madison Avenue, 10th floor, New York, New York 10022-4213, 212-339-2000 or 888-305-0050, or fax, 212-339-2020. SOURCE Security Capital Trading, Inc. (C) 1999 PR Newswire. All rights reserved. prnewswire.com CONTACT: Raymond L. Dirks of Security Capital Trading, Inc., 212-339-2000 or 888-305-0050, fax, 212-339-2020