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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Paul Butler who wrote (22890)	1/25/1999 1:39:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

PAW, Paul the $0.25 was after a reduction from $0.70 in earlier estimate Their debt was already factored into this earnings estimate. and through all that their increase in both EPS and net income and revenue has been very good indeed. I'm a shareholder and very interested in that company. We bought in after my son got to be a pantherholic last year. FY Jun 1997A 1998A 1999E 2000P Revenue $54.3 $296.2 $384.8 $446.2 4 Net Income ($10.3) $1.3 $8.9 $19.7 EPS ($0.74) $0.04 $0.25 $0.55 Institutional Ownership 25.8% ....Refinancing Impacts Fiscal 1999 Earnings – The Florida Panthers closed the refinancing of $320 million of short term debt which come due earlier this month. Of the $320 million, $220 million has been refinanced for six months at a rate of LIBOR plus 425 basis points. The remaining $100 million has been refinanced for a two year period at a rate of LIBOR plus 600 basis points. The result is an effective interest rate on its total debt near 10%, up roughly 100-150 basis points from where it was previously. In addition, the Company incurred fees from the transaction which will be amortized over the second half of fiscal 1999. Consequently, we are lowering our fiscal 1999 EPS estimate to $0.25 from $0.70. Of this $0.45 per share earnings impact, we estimate a $0.27 per share to come from the incurred fees and $0.18 per share from additional interest expense. The new stadium is awesome and is expected to generate profit in 1999. Acording to my son (and not the analyst) a recent new player added to the Miami panthers could be crucial in this future profit of the team).. The resort part of their holdings are expected to generate over $100 million in profits for fiscal 1999 and over $125 for fiscal 200. But I don't get a $20 estimate but rather a $13 estimate ... this from Jaffries group: We believe the Company remains ideally positioned for the growing demand from conference attendees and from baby boomers seeking high quality resort and leisure activities. We are lowering our price target to $13 from $18 per share based on a multiple of 10x enterprise value to EBITDA for fiscal 1999, in-line with the valuation on other resort operators.