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Non-Tech : Programmer's Paradise (PROG) -- Ignore unavailable to you. Want to Upgrade?

To: joshi who wrote (199)	1/8/1999 12:13:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 235

No, this was an "earning surprise", they had a blow out quarter after retrenchment and acquisitions last year. At $72 MM per quarter their sales rate is north of $300 MM, but they are growing rapidly and the web site is only starting to have impact on sales. I would not be surprised to see a growth rate from here of 25% to 30%, namely sales of $500 million in two years or so. If the market keep giving internet companies huge multiples of sales I get price per share well north of $100/share. At their current sales rate, a one time sales multiplier should put this stock at $60/share, IMHO. See the comparison to EGGS at: techstocks.com Zeev Zeev