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Gold/Mining/Energy : NORTON DRILLING (nort nasdaq) FORMERLY DSIC -- Ignore unavailable to you. Want to Upgrade?

To: lostmymoney who wrote (216)	2/18/1998 10:06:00 PM
From: ChrisJP	Respond to of 295

It's hard to believe that it took a .60 rise in oil futures to bring buying into NORT. This calculation was posted on Yahoo! From www.wsrn.com enter NORT symbol and then under estimates & earnings click Ratio & Earnings Report: Quarter: 12 MOS REV: 10.3M 33.5M Net Income: 2.3M 3.5M EPS: .09 .11 Of course for the 4th quarter, NORT had to pay taxes out of the earnings. Looking forward and assuming zero revenue growth for the next 6 months, this looks like a revenue of (.090 +.081) times 2 equals .342 before tax earnings for 12 months. If taxes are double what they just paid then net earnings look more like .214 for a 12 month period with revenues and expenses comparable to the last six months. So if we can expect forward earnings of .21, even a measly PE of 15 would put NORT at over $3. Regards, Chris

To: lostmymoney who wrote (216)	2/19/1998 7:04:00 PM
From: ChrisJP	Read Replies (1) \| Respond to of 295

Well, do you think the large tug-of-war volume between 1 1/4 and 1 5/16 is a good sign or a bad sign ?? I think there are 2 forces at work: those that are bailing after the less than stellar reaction to the earnings and those that think this is a good value and worth waiting a few months for it to pan out. I guess a lot of people who bought higher up figured NORT ain't bouncing back anytime soon. Looks like it's my turn to take a ride on NORT for a few months a see what happens. If oil services ever rebounds, NORT will do great ! Beginning to look like it's shaping up to be a big if . Regards, Chris