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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: VegasMan who wrote (2586)	9/29/1998 7:45:00 PM
From: Wowzer	Read Replies (1) \| Respond to of 7247

All...take a look at ESCMF the stock got hammered today to 6 1/2. The company makes and markets medical devices used for cosmetic non-invasive treatment such as varicose veins etc. Today the company warned that earnings this qtr would be in the .20 to .25 cent range (expections were for .50) and revenues would be down 15% sequetually from second qtr. However, their balance sheet is strong with a book value of 3.73 no debt and 58 million or $3 a share in cash. Revenues for third qtr should be about 53 million which is still 56% better the year ago qtr. Earnings at .20 to .25 a quarter is still about 1.00 a share giving it an estimated PE of 6. Institutions own (or did) 93% of outstanding, which I think is the primary reason for the huge sell off. Quarter end window dressing. So the patient investor might want to wait until Thursday. Negatives: The chart stinks! A foreign company All said I went long at 6 1/2 and hopefully will get 8 within a couple of days. Comments? Rory