CPI Aerostructures Inc. - Investment Opinion - 'Strong Buy'.GAINESVILLE, Fla.--(BUSINESS WIRE)--Oct. 21, 1997--Barber & Bronson Incorporated announced that they have issued a research update on CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I Aerostructures Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPIA CPIA Canadian Plastics Industry Association CPIA Country Policy and Institutional Assessment CPIA Canadian Printing Industries Association CPIA Colorado Photonics Industry Association CPIA Chemical Propulsion Information Agency ), rating the stock a 1-Strong Buy in the short term and 1-Strong Buy for long term investors. CPI recently completed the acquisition of Kolar Machine Inc. for $14.375 million, including real estate. This purchase is expected to more than double annual revenues and immediately become accretive to earnings. As a result, we have increased our revenues and earnings estimates for 1998 to $26.0 million and $.28 per share. Our initial coverage, dated June 9, 1997 forecasted 1998 revenues of $10.8 million and earnings per share of $.20. This is the first, in what we believe will be a series, of acquisitions for the company. CPI Aerostructures is a producer of aircraft structural parts and machine parts and subassemblies. We have set a 12 to 18 month target price range of $6-8 on the common shares. Barber A barber (from the Latin barba, "beard") is someone whose occupation is to cut any type of hair, give shaves, and trim beards. In previous times, barbers also performed surgery and dentistry. & Bronson Incorporated is a full-service brokerage and investment banking firm based in Miami, with offices in Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla., 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 and Hilton Head, S.C. A copy of the report will be available shortly on our web site at http://www.barberbronson.com . Jeff Hasse Barber & Bronson Incorporated P.O. Box 14541 Gainesville, FL 32601 352/378-2133/Fax 352/375-6449 info@barberbronson.com -0- NOTE TO EDITORS: In the Internet/email address noted in this news release, there is an "at" symbol between info and barberbronson.com. In the World Wide Web address noted in this news release, there is a double slash between http: and www.barberbronson.com. These symbols may not appear properly in some systems. CONTACT: Barber & Bronson Incorporated, Gainesville Jeff Hasse, 352/378-2133 |
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