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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: rjm2 who wrote (12082)	2/20/2001 2:39:59 AM
From: TimbaBear	Respond to of 78523

FTEC looks pretty good to me. I get a NetNet value of about $1.34/share and positive FCF. Numbers look pretty clean. The only issues I see are 1). What is the danger of delisting and what impact will that have on their price? 2). They don't have very many shares outstanding, so volume is always going to be low, which adds a level of illiquidity risk. I run across this a lot with low price NetNets. 3). They don't have a very high revenue growth rate, 5 year cumulative average is about 9.26%/year, but they did that in just a few of those years, in fact revenues dropped between '95 and '96 and did so again between '97 and '98. Since it looks like their products are installed in large new construction projects, these drops could just be timing issues for when those projects get completed. Timba