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Technology Stocks : Advanced Fibre (AFCI) ** IPO -- Ignore unavailable to you. Want to Upgrade?

To: VBroady who wrote (1095)	10/14/1998 12:33:00 AM
From: Larry Unger	Respond to of 3299

<<You should have waited for AFCI to hit 3-4, however, before buying in...>> what is the 3-4 based on? book value is $3.43 before these results. sales per share is $3.52 based on 3q98 run-rate. the telecom players cannot expect to get this company at less than 3x sales minimum. that said, i wish i had time to research acquisition comparables if there is any with similar circumstances. could be that mgmt will not accept such an offer, thinking their biz will turn around and demand multiples of the current stock value. that's the only thing preventing a buyout at these levels.