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To: stockvalinvestor who wrote (4384)	6/9/1998 4:00:00 PM
From: stockvalinvestor	Respond to of 12617

Gilman cannot explain stock price drop GREAT NECK, N.Y., June 9 (Reuters) - Gilman & Ciocia Inc. said Tuesday it is ''very comfortable'' with analysts' fiscal 1998 earnings estimates and sees no reason for the dive in its stock price from 26 about a month ago to 14-1/2 today. Gilman & Ciocia is a tax preparation and financial planning services company. It does most of its business during tax season. Executive Vice President Tom Povinelli said that despite the seasonal nature of the business, he could not understand the drop in stock, as a few weeks of tax season fell in the company's current fiscal fourth quarter. ''This is one of our larger quarters for financial planning as well,'' he said. Povinelli,in a separate statement to Reuters, quoted Janney Montgomery Scott as estimating the company's 1998 fourth quarter earnings per share (eps) at $0.24 and Kenney Securities estimating fouth quarter eps at $0.21. First Call forecasts Gilman & Ciocia's fourth quarter earnings per share at $0.23, first quarter 1999 earnings per share at $0.05 and earnings per share in the second quarter 1999, which ends in December, at zero. More Quotes and News: Gilman & Ciocia Inc (Nasdaq:GTAX - news) Related News Categories: US Market News