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Biotech / Medical : STAFF BUILDERS (SBLI) -- Ignore unavailable to you. Want to Upgrade?

To: t.gawarecki who wrote (38)	1/13/1999 3:02:00 PM
From: Ritchmc	Read Replies (1) \| Respond to of 40

Here is some good info about this company. SBLI has 3 different business units. (1) Home Health Care - About $325 million in sales each year. Losing money. Based on other deals in industry, business worth about $80 million if sold. (2) Staffing services - Does about $90 million a year and profitable (about $1.8 million in profits). Probably worth about $40 million. (3) Chelsea Computer - Does about $35 million in sales with profits about $3.7 million. SBLI share of company worth about $25 million. Total company worth is $80 million + $40 million + $25 million = $145 million. About 22 million shares means each share worth $6.59. Share buyback program shows company agrees. Management has stated that Home Health Care should be profitable in 1st quarter of 1999. Also say that lawsuit has no merit and so have no reserves for it. Look at chart on Big Charts and you can see big tax selling after went to $2.75 last year. Lawsuit scared them off. Anyway, some real value here. With current price the company is valued at .50 x 22 million shares = $11 million dollars. A real steal IMHO.