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Biotech / Medical : Biosource International -- Ignore unavailable to you. Want to Upgrade?

To: Terry Berg who wrote (318)	11/9/1997 8:44:00 AM
From: Joe Dancy	Read Replies (1) \| Respond to of 696

Terry - Doug Fant was in Peru and I was in Las Vegas doing "real" work so we could not attend the Red Chip conference here in Dallas a month or so ago. I paid the admission and sent one of our investment buddies to the conference - he knew next to nothing about BIOI or Red Chip but likes technology companies and he is a sharp guy (engineer and MBA). He is writing up a report, I've yet to get. In a nutshell I talked to him after the conference and he said that the earnings will depend a lot on the European operations that they have purchased in the short run - 50% of revenues or something - but said that long term the company is very attractive. He said there was some concern over the strength of the dollar and the operations were being consolidated. As a result, those with a short term (6-month) time frame would not be happy with the company since the earnings will either just meet or might be short of what is expected so the stock will not move. Longer term he said that in his opinion (which I share) the company is very attractive. He also said some distinguished looking investor in the back after the presentation made the same remarks (for what that is worth, the guy probably owns a bunch with a basis of $12 -gg-). This is a company, according to my guy, that is expanding into genetic engineering products and has some real exciting products upcoming, with some real good products currently being sold, and a solid business plan. My guy is a fan of FSII (semi equipment) and some other semi and electronics companies, but he said he plans on selling FSII sometime in the next six months and putting the funds into BIOI - he thinks longer term this one is a winner big time. Now for the details past all this hearsay I'm waiting on his report. Part of the problem is that he found a new job and quit - and the new job is interfering with his putting together a comprehensive report (image letting your real job get in the way of investment research? -gg-}. I also ran a literature search for Biosource for the last week or so and they have not appeared in the press for what that is worth - they usually don't due to their size unless they announce earnings or something. I'm a buyer here for what that is worth, but I tend to buy before the train leaves the station and may have to wait on board here for a while. When we get moving here I expect exciting things from BIOI - the financials look good (say what, a company in the biotech arena that makes money?) and I think the business plan looks good also. Best - Joe