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

To: srvhap who wrote (2441)	5/7/1998 10:50:00 PM
From: Eric O.	Read Replies (1) \| Respond to of 2841

Speaking of disappointment, check-out the PHV thread (a competitor of ECO). www3.techstocks.com <<In March, Philip president and chief executive Allen Fracassi said he was "comfortable" the company would produce earnings of US$1.20 to US$1.25 for the full year. But the company has amended its financials for 1995-97 three times this year and is now filing amended 1997 results with U.S. and Canadian regulators. >> In my next stock pick, I'm going to look for leaders who are not so comfortable. Eric

To: srvhap who wrote (2441)	5/8/1998 12:06:00 AM
From: david james	Respond to of 2841

Because of the hit on the costs of the debentures, U.S. GAAP was significantly lower than Canadian accounting. However, U.S. GAAP earnings might be higher in 98, since they will still be paying for the debs over the next 9 years on Canadian accounting. I wonder what would have happened if McGinnis had promised 90 cents in 97. That 10% growth might still have produced a P/E of 15 or so, and then beating estimates may have pushed us higher. Shows the importance of the psychology of the stock market over the fundamentals. Lets hope that they are underpromising in 98. David