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Technology Stocks : MDSIF (formerly MDSI) Mobile Data -- Ignore unavailable to you. Want to Upgrade?

To: James Hutton who wrote (119)	1/27/1998 9:04:00 PM
From: bruce gordon	Read Replies (1) \| Respond to of 226

JON: I guess one of the big problems is their reporting . It really is quite clear if read properly... Earnings are reported in CDN $$$$. Using US GAAP accounting they reported 0.23 cents CDN. Or 0.15 CDN using Canadian GAAP(quite different accounting policy) in CDN $$$$$. SOOO .23cts Cdn under US GAAP is actually 0.23 times .69 Conversion rate which is ==0.1587 cts US$$$$,if you want US numbers.. Under Zacks estimates the quarter was estimated at 0.14cts and 0.48 cts for the year in US$$$ under US GAAP. The 0.70 cts year EPS reported in CDN $$$ under US GAAP equals 0.48 cts(70x.69) US FDS. The fact the 0.48 cents is right on the UBS and Unterberg estimates in US$ is due to the fluctuation in the Rate of Exchange over the course of the Year, even though the 4th quarter was better than the estimate....WHEW>>>. By the way the two underwriter brokers mentioned as of Ytd. in ZACKs are estimating 0.95 CTS FOR 1998. That's US $$$$.I suspect that the two underwriters have a very good insite to the workings and accounting of the company after the hemorage of the 3rd quarter and would expect management to keep a good pipeline open on any changes of material nature from now on. With software and services revenue up 114% yr to yr reported and EPS estimates for 1998 up 95%, Yes I would venture that we are seeing a turnaround as well as an undiscovered real growth situation with real growth prospects, somewhat confused by these accounting and exchange differences. BAG.