BlueStone Capital Partners, L.P. Initiates Coverage with STRONG BUY RATING for Gencor Industries Inc.NEW YORK--(BUSINESS WIRE)--Sept. 25, 1997--Senior analyst, Jerry Jer·ry n. pl. Jer·ries Chiefly British Slang A German, especially a German soldier. [Alteration of German. Levine at BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital initiates coverage on Gencor Industries Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. : GX) with a STRONG BUY recommendation and a 9 - 12 month price target of $20 - $22 per share. Through both internal growth and via the acquisition route the company's goal is to become a technological and market share leader in industries and markets driven by the essential needs of a growing world population; food and transportation. --The acquisition of The Process Equipment Division (CPM (1) (Critical Path Method) A project management planning and control technique implemented on computers. The critical path is the series of activities and tasks in the project that have no built-in slack time. ) from Ingersoll-Rand Co. as of Sept. 30, 1996, has contributed significantly to revenue and earnings in the current fiscal year and the company expects further contributions in fiscal 1998 and beyond. --The company continues to aggressively seek further acquisitions in specialty niche product areas along with internal expansion into new foreign markets. --Revenue projected to climb to $175 - $180 million in fiscal 1997 and advance to $210 - $215 million in FY 1998. Net income per share is estimated to increase to $1.05 - $1.10 in FY 1997 and $1.65 - $1.70 in FY 1998. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to emerging growth and medium size companies worldwide. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. CONTACT: BlueStone Capital Partners, L.P., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Jerry Levine, 212/850-9403 |
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