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Gold/Mining/Energy : CGI Group (GIB.A) - -- Ignore unavailable to you. Want to Upgrade?

To: The Coz who wrote (1155)	4/12/1999 5:52:00 PM
From: Sal Pugliese	Read Replies (1) \| Respond to of 1673

The Coz, I'm well aware of number of share o/s this quarter vs last year, that's why I included last quarters Q1 99 results. Furthermore, I'm talking about net earning...and not net earnings per share (Big Difference)...that's why based on that I'm only predicting a 45% increase in share price and not a 350% increase in share price... If you look at Q1 result we already had net earning (for about/share) of $18.2 million. I would expect the net earnings for Q2 to be higher than Q1 and to be somewhere in the $20 to $25 million range for Q2. Having mentioned that, and comparing Q1 99 results ($18.2) to Q2 of 98 ($6.2 million) we already have an increase of almost 300% in net earning. This 300% increase in net earnings would translate to about 50% increase in net earning per share... Also keep in mind we do report on the NYSE and the Canadian dollar has gained ground this quarter vs the US dollar. Therefore, results in US figures and better even if they would be the same in Canadian dollars... Last year based on Q2 the stock appreciated nicely and split in May 98...it hit new highs of $34.30 in June/July of '98... Therefore, solely based on quarterly results net earning per share being 50% higher than last year we could see a 50% rise from $34.30...Oo to a level of $51...Let be conservative and say $45.... Keep in mind there is an AGM coming up...Also keep in mind, anaylst have yet to take into consideration CGI's new acquisition and revise their forecasts...Also keep in mind that there was 1000 extra employees on staff in Q2 99 than Q1 99, and there will be at least 975 more on staff in Q3 of 99...These analyst all generate income... Happy investing...Sal

To: The Coz who wrote (1155)	4/28/1999 9:27:00 AM
From: Jean-Robert Grenier	Respond to of 1673

Hi The Coz ! You did a good job on your estimate but what in your view will be the multiplier factor of the acquisition of DRT in the US ? Would you say 10 times or 20 times their actual sales (100,000,000 US$ ) ? I believe that the analyst did not see the importance of that acquisition. With DRT CGI will be in a better position to generate new outsourcing contacts via the folder of Deloitte witch are not peanut clients. I think that CGI will be able to generate 50% of their sales in the US with that acquisition in 2 to 3 years from now. Au revoir Jean-Robert