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Gold/Mining/Energy : Goodfellow GDL on MSE -- Ignore unavailable to you. Want to Upgrade?

To: Scott Mc who wrote (95)	12/11/1998 3:29:00 PM
From: M. Merriam	Read Replies (1) \| Respond to of 120

Here's my notes from previous 1Q results: Year Rev. Net Profit Per Share Profit Margin 98 85m 1.1m 0.26 1.3% 97 78m 1.2m 0.30 1.5% 96 59m 1.2m 0.31 2.0% 95 50m 0.4m 0.11 0.8% This is a pretty superficial analysis, but the most obvious trend is the increasing revenues. Although the first quarter profit margin is higher than in '95, it has been decreasing since a high of 2.0% in '96. That worries me a little. You might expect economies of scale and thus higher profit margins with increased revenue. Mike