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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: david james who wrote (2030)	3/6/1998 12:25:00 AM
From: srvhap	Respond to of 2841

I tell you David I just listened to the call and the only bright spot I heard was that the company continues to grow and that they feel there acquisitions will continue to be accretive. This is a company that must be held for the LONG term -- not a quick buck company. The rest of the call was rather disappointing IMHO (Yea FRED your right that the call was NOT very good). I believe that this company will continue to grow LONG term. I see some pretty choppy trading ahead, actually for at least a couple of quarters I don't expect much from Eco in terms of equity appreciation. That said I am not yet ready to through in the towel, I think this company has proved that they know how to grow and they will continue to grow. It's just to bad that there are so many small investors here which causes the kind of fluctuation in price that we will no doubt see in the near future.

To: david james who wrote (2030)	3/6/1998 12:28:00 AM
From: Michael Anthony	Read Replies (1) \| Respond to of 2841

Give it up David. We all know the irony. Face it. It doesn't matter. The inequity will persist for quite some time IMO. You will be able to make similar comparisons to others in the industry for many quarters to come. If I was thinking of coverage and I was sitting in on the call, I would never initiate regardless of the prospects simply because management is inept. Not inept at running a company, but certainly in enlightening the public about it in a way that anyone can trust. When Norris told those two questioners that he didn't have the breakdown of the numbers in front of him after all the time they had to prepare, it shows they are still bush league or intentionally unwilling to talk openly about their balance sheet. I thought about 1.08 and didn't feel nearly as bad as I did when I heard McGinnis and Norris on that call. Truly a shameful performance all around. They had the biggest spotlight on them in their history and they blew it worse than possibly imagined IMO. Forget the numbers, they are obviously meaningless as the price over the last years have shown. We needed credibility to back up the numbers (and they weren't anything to be ashamed of I agree) tonight and not only was it not there, it was INcredible the way they handled the call. Assume a PE of 10 going forward for years to come. Look at it this way. They grew earnings 33% with 10% tax. They will be taxed 37% this year. At the same earnings growth rate, they should make about the same this year. The benefit of the acquisitions will be eaten up by taxes and dilution. Watch the 1.40 est for 98 drop to 1.20. Oh the irony if THAT happens! My guess is with first quarter being lower than last year, we'll be lucky to see 1.08 again in 98. Hats off to Capital Research. They were right on the money.