The 4thQ at Magal is usually the brightest. In 1996, 4thQ profits were 71% of the first 3Q's put together. In 1997, there were $1M in acquisitions in both the first and fourth quarters. Counted as net income, then the fourth quarter equalled 160% of the first three quarters' net income. If the acquistions were counted as gross income and taxed at 20% (avg for MAGSF) then the fourth quarter equalled, get this, 220% of the first three quarter's net income.
So far we've had 20 cents in net income and the analyst is projecting 11 cents for the fourth. Seems rather conservative.