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To: HH who wrote (7718)	1/12/1998 4:35:00 PM
From: MARK BARGER	Respond to of 95453

I spoke with IR at FGII today. The gentleman I spoke with told me that the past 2 quarters, FGII has been producing revenues using one ship yard facility. They are expanding their Miss. yard, more than tripling the size with an additional facility. The new Canada yard purchase will give them 4 ship yard fabrication sites. So, by the 2nd or 3rd qtr. of '98 they will be going great guns using 4 fab. sites. He said backlog was still growing. Now, they are doing a lot of refurb. work with approx. 30% margins, but will start new construction jobs that have somewhat smaller margins. He said the upcoming earnings would be tempered by increased costs associated with building their new facility in Miss. So probably somewhat flatter earnings to be reported in Feb. But, they are looking for around $1.40 for '98 and around $2.25 for '99. I got the feeling that is was a very exciting time for them as they were gearing up for 4 sites to handle all the backlog they have acquired. Looking good for a $21 stock. I, like others, look for this stock to explode in a matter of months. Good luck all. Mark