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Technology Stocks : Brite Voice (BVSI) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Willoughby who wrote (414)	12/28/1998 8:11:00 PM
From: Bosco	Read Replies (2) \| Respond to of 495

G'day all - dear Mark, well, maybe we should nominate you as the king of glutton for punishment <sg>! You got out of the pit but chose to get back in? Anyway, hope you don't mind my friendly tease. Maybe this link will give you some idea wsrn.com but don't ask me to explain it. I know this is yearend selling and all that, but technically the stock doesn't look so good. I am hoping some of the holders are simply shorting the stock in the box and nothing more, but the recent hi vols days [today included] looks iffy to me. I confess though I ve not paid much attention to my portfolio as I ve accrued enough tax loss. I plan on holding my breath for another few days to make a new beginning for the new year. Happy new year! best, Bosco

To: Mark Willoughby who wrote (414)	12/30/1998 10:50:00 PM
From: James B. Barnes	Read Replies (1) \| Respond to of 495

Here's the way I figure it. It's current PE based on eps the last four quarters is 23.4 ($7.25/.31). I think that's quite acceptable based on anticipated growth rate. If this year comes in at .39 and 1999 comes in at .56 then the growth rate will be 43.6%. Buying that at a current pe of 23.4 would seem to me to be a good value. If this Q comes in at .13 and they book a gain of .75 to 1.00 on the recent sale of part of the company, than I figure the book value per share will go to $7.00 to $7.25. What a safety factor for current investors. Also, if companies are looking at acquiring BVSI, what a bargain, at current prices it costs them literally nothing for their business. (I don't mean we'd sell out at these prices, but even a $12.00 bid would only cost them a net $5.00 per share). Sales/Price Ratio- The CFO said 1998 sales from continuing operations would probably be about $125 mil. Divide that by 12.4 mil. shares and you get a ratio of about $10.00 of sales per share. At a current price of $7.25 that's a SPR of .73. (I think that's right) I'd think a ratio of 1 to 1 would not be overpricing the stock which would suggest a current price of $10.00 per share. A year from now based on the CFO's sales estimates would yield a price of around $12.50 at a 1 to 1 ratio. Criticism is welcome, I guess. James