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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (9715)	5/27/1998 12:49:00 PM
From: Jenna	Respond to of 120523

VTS is reporting on Thursday after the close. (Add this to earnings play watch list) Veritas is the fifth largest geophysical services company based on revenue, and an industry leader in the application of seismic technology. In fiscal 1997, revenues grew 44.7% to US$362.7 million, while gross margins increased more than 4% and earnings per share increased almost 20 times. This company has given me 3 quarters of gains and MACD shows bullish trend as well as relative strength. Volume indicators show this stock is under accumulation, yet stochastics show an oversold stock here. 4/24/98 - Veritas DGC Inc. Announces Preliminary Outlook for 1998 Fiscal Third Quarter HOUSTON (April 24) BUSINESS WIRE -April 24, 1998--Veritas DGC Inc. (the "Company") announced today that it expects to report earnings of $.65 to $.70 per share, on a fully diluted basis, for its 1998 fiscal year third quarter ended April 30th, exceeding analyst consensus estimates. The Company said the higher earnings it expects to report are due primarily to the impact of high margin data library sales, although generally all service groups are demonstrating strong performance. Veritas reported earnings of $.32 per share for the same quarter a year ago. The Company will release its financial and operating results for its third quarter on Thursday, May 28th after close of the Market. After their last report: VERITAS D G C INC COM- VTS - DAILY PRICES DATE OPEN HIGH LOW CLOSE VOLUME --------------------------------------------------------------- 03/11/98 41.687 42.687 41.625 41.937 147,100 03/12/98 42.687 44.000 42.500 43.562 353,100 3/18/98 - VERITAS DGC INC. TO PRESENT AT RAYMOND JAMES & ASSOCIATES, INC. 19TH ANNUAL Institutional Investors Conference ORLANDO, Fla., March 18 /PRNewswire/ -- Veritas DGC (NYSE:VTS ) is a leading provider of land, transition zone and marine seismic data acquisition, seismic data processing and data library surveys to the petroleum industry in selected markets worldwide. With more than 30 years of operating experience, Veritas is the fifth largest geophysical services company based on revenue, and an industry leader in the application of seismic technology. In fiscal 1997, revenues grew 44.7% to US$362.7 million, while gross margins increased more than 4% and earnings per share increased almost 20 times. Veritas DGC is traded publicly under the ticker symbol VTS on the New York Stock Exchange and the Toronto Stock Exchange, with 22.5 million shares outstanding. The Veritas presentation includes a summary of the Company's business units, an overview of seismic industry fundamentals, a financial review, and a discussion of how Veritas is poised for continued growth. Veritas is a pure geophysical service provider, offering a complete line of seismic products and services in a variety of geographic markets worldwide. The Company believes that the fundamentals of the seismic industry are strong, and anticipates further industry growth, largely through ongoing advances in geophysical technology. The Company's operating assets are strategically positioned to capture an increasing share of desirable geographic markets. Major asset and technology ugrades in 1997 resulted in capacity increases of more than 25%. This trend continues in 1998, with continued investment and aggressive capital expenditure programs to further expand capacity, reflecting the growing demand for geophysical services. The Company is particularly committed to expanding marine capability, with two new state-of-the-art 3D vessels coming on-line in the next 18 months. These vessels will be among the most capable vessels available to the industry today. The Company's data library asset has also grown, especially in the Gulf of Mexico, with sales increasing in proportion to the growth of the library. This data library is one of the largest in the industry. With low book values and high margins achieved through conservative accounting practices, the growing data library asset is expected to positively affect earnings for the next several years. The Veritas management team is committed to growing the Company at a rate which exceeds seismic industry growth. The Company is well positioned with a strong balance sheet capable of supporting these growth objectives. In summary, Veritas has already delivered superior results and has demonstrated strong growth. The Company is well positioned to continue this growth through the next several years. SOURCE Veritas DGC, Inc. After the conference here is where the stock price climbed: DATE OPEN HIGH LOW CLOSE VOLUME 03/19/98 41.187 42.750 41.062 41.937 174,400 03/20/98 41.937 44.312 41.812 44.312 319,200 03/23/98 45.250 48.375 45.250 48.125 500,400 03/24/98 47.875 49.750 47.875 49.187 536,900