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Gold/Mining/Energy : GEAC.....Canadian best kept secret -- Ignore unavailable to you. Want to Upgrade?

To: dug_s who wrote (1418)	9/13/2000 9:54:52 PM
From: Praxis	Read Replies (2) \| Respond to of 1571

I think you've got some information mixed up regarding that article, it said ,"...Bergeron has run out of time." not the company. The article was actually not nearly as scathing as it could've been, it actually points the brunt of the blame where it should be pointed, the board. The loss per share not incl. sale of the banking unit would be .05 not .07 /share. Here is the snippet: Geac Computer Corp. (GAC/TSE), down 65¢ to $10.05, on volume of 2.6 million shares. Shares of the software maker dipped after it reported a first-quarter profit that rose because of a $92.8-million gain from the sale of its banking unit. Net income for the period ended July 31 was $49.2-million (75¢), up from $38.3-million (60¢) a year earlier. But the sale of the bank unit to 3i Group PLC added $1.37 a share to earnings. Without the gain, Geac would have had lost 5¢ a share. The loss from operations math is quite simple: Geac Computer Corp. (GAC/TSE) Jul. 31 - 1st Q Revenue (000s) 212,472 192,717 10 Net Income (000s) 49,162 38,325 28 EPS 0.79 0.63 Cash Flow (000s) (1,960) 47,562 The net income in the latest quarter included a gain of $92.8-million on sale discontinued Smartstream Banking Systems and a $0.5-million loss from this discontinued unit, or a gain of $1.49 per share. There was income from Smartstream of $2.0-million or $0.04 per share a year earlier.

To: dug_s who wrote (1418)	9/13/2000 10:15:26 PM
From: Jack Jagernauth	Read Replies (1) \| Respond to of 1571

Dug_s They lost money from their operations, but made money on the sale of a business unit. That's what I gathered from looking at their Q1 results. They seem to make some money buying and selling beat-up technology businesses, somewhat like the way a used car dealer might buy and sell used cars. It's difficult to forecast earnings for GAC. They will probably lose money on their operations next quarter, but sell off some more junk and show an 'earnings surprise'. However, with all the negative sentiment, it's probably a good time to buy. Regards, Jack