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Integrity Incorporated (ITGR) Message Board

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  • dontforgetlogin dontforgetlogin Mar 3, 1999 10:25 PM Flag

    I'm back in . . .

    without the tax writeoff, ITGR would have done
    only 2/3's the profit of the 4thQ of 1997, not twice,
    and profit margins were down. Now granted, revenue IS
    picking up, as the 4thQ is usually the weak one. This
    year, however, revenues surpassed the 3rdQ even though
    there was a $400k inventory clearance in the 3rdQ this

    Another concern, Coleman has already
    forecast delays during the 1stQ because of Word's
    relocation. Imo, it may not mean more than a cent per share,
    if that, but it's something we don't need during
    this time of transition.

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    • IMO, "Income from operations": 740 vs. 735, or
      "Income before taxes": 353 vs. 350 would be a better
      indicator than "Net income minus Tax benefit": 784-515 vs.
      346-15. So I'd give them credit for between a 1/2% and a
      1% gain. I agree (cf. my msg #419 on 2/25) that the
      "more than double" should not be taken at face value.
      Not that the 4thQ-vs-4thQ income situation is the
      most important thing to focus on, but, as you point
      out, it is something definitely to be considered.

      Also, I seem to get approx. 4/5's the profit rather
      than 2/3's using what I guess to be your figures, but
      I'm no expert here. What have I missed?

      • 1 Reply to hu3s
      • Don't get me wrong. It's a win-win situation.
        Management can point to increasing revenue when investors
        call (and increasing profit margins as the website
        gets more visits) but when renegotiating contracts
        with its artists (a process they go through every 2-3
        years) management can ask for sacrifices in their
        contracts rather than the other way around. It's healthy.

        Integrity's a winner, but so what? My cousin-in-law used to
        own the Jax soccer team. They won the championship
        that year but he still lost money. Composers have egos
        too. Take the money and run if you

        Frankly, I see Christian music as emerging the way the
        Crusades did at the First Millennium. Back then, people
        spoke out against the Crusades, but within 24 hours,
        they'd sell everything they had to join the Crusades.
        How do you argue with a force that


    • ITGR's revenue, margins and tax write offs are
      all reflected in the current price which is obviously
      at a low level. My belief
      is that when you look
      to the future potential for this type
      of a
      company in the current environment of enhancing
      values (outside the White House)we are in an excellent
      to capitalize on this movement which continues to
      gain momentum
      across the Country. I was obviously
      happy to see some upward
      movement today, however, it
      would not surprise me to see ITGR
      drop again to
      $3.50 or so ... another opportunity to once
      accumulate shares at an extremely attractive price!!

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