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Technology Stocks : Specialty Teleconstructors, Inc. (XMIT) -- EXCITING! -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (399)	9/19/1998 6:58:00 PM
From: Peter Goss	Read Replies (1) \| Respond to of 418

Was anyone watching the end of trading Friday? Two different quote services show the last trade at $23 but the bid at 21 11/16, ask 21 3/4. Did the market makers drop it at the end with no trades? Pretty weird, plus large volume, plus still no filing. I don't see how it can stay above $20. good trading, Peter

To: Peter V who wrote (399)	9/28/1998 8:59:00 PM
From: 18acastra	Respond to of 418

10-K is out, quarter seems like it was horrible earnings Could not find any data specifically on the last Q, only annual numbers (from which I attempt to derive last Q info - wish they would just disclose data on last Q/make clear, but it seems from first cut analysis that Q4 was so bad they are avoiding issue) 10-K is gigantic document, need to give it more thorough review, but here are some initial observations: 1) From 10-K section on annual comparisons "Net earnings DECREASED $4.7MM or APPROXIMATELY 83% to $977 thousand in FY ended June 30, 1998 from $5.68MM in FY June 30, 1997. Decrease was primarily the result of LOWER REVENUES and associated gross profit that were a consequence of the SLOWDOWN in wireless infrastructure building and implementation activity." 2) By deduction (not sure if this is correct, but will lay out logic-would not have to go through these gymnastics if company just disclosed via press release like they used to when business was good): First nine months earnings from 10-Q for Q3: $2.6mm Year earnings from 10-K for year: $0.977mm Mathematical back in to Q4 earnings: $(1.6)mm I think XMIT now has about 15.7mm shares outstanding (from acquisition), so loss for Q works out to about $(.10) EPS (extra share dilution actually mathematically helps to decrease the reported loss per share, for example if had only 9mm shares outstanding, loss would work out to $(.18) EPS). Conclusion: I just don't get it. This is a business that is still being valued at ~$320mm dollars market cap (15.7mm shares * 20), and now appears to be losing money if my math is correct. In my opinion this thing is still way overvalued (especially in today's shakey market). This thing was full of hype about giant tower deals, etc., and about the only thing they have been able to do is lose money. Anybody with any thoughts, bullish or bearish, would be great to hear the input. My opinion.