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Gold/Mining/Energy : maverick (MAVK) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Rolfe who wrote (191)	4/16/1998 10:24:00 AM
From: Mikeh	Read Replies (1) \| Respond to of 432

If anyone listens in on the conference call - could you post your notes and thoughts here? Thanks in advance. We're getting hit a bit this a.m., apparently estimates were at least .32 based on management's earlier earnings warnings. Its bad they missed their own warnings estimates, but still, these numbers look pretty good to me, given the current oil climate.

To: Steve Rolfe who wrote (191)	4/16/1998 10:24:00 PM
From: Mark	Read Replies (1) \| Respond to of 432

During the conference call, Gregg Eisenberg, President and CEO reiterated that exports to Canada had fallen (due to the weakness of the Canadian dollar coupled with lower oil prices) ... when pressed for figures he said that exports to Canada account for approximately 13 % of revenues... Furthermore he admitted that their backlog is off between 5% to 10% from the beginning of the quarter. (Not great news but nothing to spark a run for the exits...) On a more positive note steel costs would continue to move lower (currently appr. 5 % lower) due to new plants coming on line.... He also felt that labor costs would be reduced as they had downsized somewhat due to the lower volume of shipments. In addition the revenues from gas drilling account for 2/3 of revenues Vs 1/3 from oil.... I feel this is positive due to the relative strength of natural gas pricing Vs oil. Inventories have been drawn down and shipments should pick up if confidence returns to the oil segment. I would describe the call as cautiously optimistic... I would expect that we'll get some earnings revisions from analysts... probably some downgrades so they can shear a few more sheep while they buy the dips they create. Although the earnings of .30 missed estimates by a few cents lets not lose sight of the fact that $0.30 net income/share represents a nearly 58% increase in earnings compared to the previous years quarter of $0.19... Mavk's ability to accomplish this in a depressed oil market reflects very positively on the management...