Zeev's Turnips Patch-No Politics (ZEEV)

[Fred Langford]

Or does he want the shares cheaper, see bold print


1:34pm 08/18/04
Engineered Support dips as Suntrust cuts estimates (EASI) By Ciara Linnane
NEW YORK (CBS.MW) -- Shares of military electronics company
Engineered Support Systems (EASI) slid Wednesday after SunTrust Robinson Humphrey cut 2005 estimates. Analyst Chris Donaghey said two programs he had expected to significantly boost growth in 2005 -- the $300 million Rapidly Installed Fluid Transfer System and the $200 million Minuteman missile silo environmental control unit upgrade -- are now more likely to hit in 2006. The analyst cut his organic growth estimate for the support systems division to 3 percent from 10 percent. At the same time, he raised his estimate for the support service business to 15 percent from 10 percent, creating a net revenue estimate of $920 million against $939 million. "That said, we view the near-term probability of EASI making a sizable acquisition as high,and we would expect to raise our estimates as a result," he said. Shares were last trading down 12.6 percent at $38.05.

Fred