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To: Ed Pettee who wrote (291)	1/9/1998 11:24:00 AM
From: george eberting	Read Replies (1) \| Respond to of 7701

TO ALL:<<<<<< The US company expects annual gross revenues to top $10 million with net earnings of $2.5 million per year. Compare this statement to the one contained in the Gagel report. For 1998, Net Revenue was projected to be $12,781,510. If NorAm's share is 30% of that, it calculates at $3,834,453. So which is it, $2.5 million or $3.8 million? Or none of the above? That's quite a spread. And don't give me that "conservative estimate" nonsense. The fact is, the company doesn't have a clue. George