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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued -- Ignore unavailable to you. Want to Upgrade?

To: Robert Floyd who wrote (419)	7/30/1998 2:44:00 PM
From: Grommit	Read Replies (1) \| Respond to of 547

Slight correction. The present range in Yahoo is 1998 1.55 to 2.40 ave 2.13 1999 1.25 to 2.81 ave 2.37 The low estimate is 1.55 for the year. I had that right, but stated the high estimate as 2.81 for this year -- should be 2.40 But it does not matter except to indicate more downward revisions are coming this week. They might even want to play it safe and come in real low. RJames said they were doing that in their last revision in June, when they pegged Q4 ave dayrate at $7000. That dayrate game them EPS of $2.00, you recall. Utilization lowering will be a significant kick to EPS. I do not think the comment on being comfortable with the low end of the range refers to 1999. I think they were talking about 1998 and at this point 1999 is too far away to even think about. Another note -- HMAR mentioned they are in negotiations to redeploy boats from the gulf. I think they will move a few, but their statement that they will not drydock idle boats is telling. I thought all idle boats would pitstop, but by not taking advantage of the lull, it tells me they expect the lull to be long and that they expect not to be able to move the boats easily from the gulf.