S A ADVISORY May 1998
New Buy Recommendation

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WEB PRESS CORPORATION
Consolidated Statement of OP

Share Price $1.18 used in caculation (Select info - year ended Dec 31)

1996A 1997A 1998E
Sales $6.6 mil $9.8 mil $12.75 mil
Net Income ($144K)S $355K $465K
Net income/share (Loss) (.05)S .11 .15
Cash flow -Net earnings & D&A $74K $570K $690K
Cash flow/share .02 .18 .22
PE estimate NM 10.7 7.8
PSR ratio actual & est. NM .37 .28
P/CF NM 6.5 5.3

NM=not meaningful
Note S = during 1996 company paid out to an officer $400K.
If this had not occurred, the company would have earned .08/share

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Copyright © 1998 S.A. Advisory