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Stocks J / Johnstown America Ind.


Subject:  Re: Need some clarification Date:  1/11/1999  8:20 AM
Author:  HighL Number:  500 of 500

A couple of lnks for you -

Railcar industry data - The decline in deliveries in 1995/1996 hit JAII pretty hard - also caught JAII at a very bad time, right after some major acquisitions. - also hit the HERE link at the top of that page for the press release.

The fourth quarter 1998 data will be posted about 5 days before the JAII earnings release. Rumors on the boards are that JAII's backlog has increased further from 9/98's record level.

Also comparing JAII to others as prepared by market guide - The PE ratio of JAII should be higher, the d/e will hold it down some as does the off balance exposure of having senior management involved in their own enterprises (TMB Industires).

Two ways to play JAII - short term - catch the quick 20-30% boost that has been happening regularly in the three weeks before earnings release. Or buy an hold for the ultimate correction in the price or Begel's sale.

Good luck.
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