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Biotech / Medical : Exactech (EXAC) -- Ignore unavailable to you. Want to Upgrade?

To: Robert G. Harrell who wrote (98)	4/29/1999 10:17:00 PM
From: VIXandMore	Read Replies (1) \| Respond to of 118

Thanks for the summary, Bob, which I found quite helpful. I caught most but all of the call and thought it went well, with the analysts upbeat. I would not be surprised to hear a buy reiterated or coverage initiated with a new buy in the near future. I didn't make a note of which analysts were on the call, but I do recall ones from Fahnestock and LaSalle. In addition to the points you made, a couple of other things caught my attention: While international sales slowed last quarter, the should revert to the levels of previous quarters going forward. Margins on international sales are slightly lower than domestic sales. New hip products are scheduled to be introduced in late '99 and early 20. (Per one of the analysts, new product introductions are the largest contributor to growth.) Expenses related to legal, software (ERP implementation) and efforts to attract more analysts were higher than anticipated, but these are expected to be one time only aberrations. I made the following notes on the sales force: 1Q98 4Q98 1Q99 Agents 34 40 45 Salespeople 69 98 113 It sounded as if they were just beginning to penetrate markets in the western US and had made great strides forward in Alabama and northern Florida. The press release and your notes cover most of the balance. Thanks for your input, -Bill