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Gold/Mining/Energy : FLC Falcon Drilling -- Ignore unavailable to you. Want to Upgrade?

To: diana g who wrote (76)4/30/1998 12:12:00 PM
From: Czechsinthemail  Respond to of 461
 
From Briefing.com:

R&B Falcon Corp. (FLC) 32 1/16 -1/16: Lehman Brothers maintains "buy" rating on marine contract drilling and ancillary services concern as Q1 results are in-line with expectations; FLC sees strong demand for its floaters, shallow jackups and marketed barge drilling assets; expects operating margins to trend higher; however, lowering 1998 EPS to $2.00 to reflect revised delivery time for a deepwater vessel and near-term mechanical problems....



To: diana g who wrote (76)5/1/1998 11:57:00 AM
From: Donald L. Dominicci  Respond to of 461
 
Interesting point in the earnings report. Revenue growth was $76.3M, of this $56.2M or 74% flowed directly to operating income. This points out the fact, while day rates continue to increase, expense increase significantly less, allowing a major portion of the increased revenue to flow directly to the bottom line. It also looks like the sector is starting to move up again. Several of the big boys in the group are hitting 52 week highs today Good luck Don


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