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#	AUTHOR DATE SUBJECT
18	member 12/08/03 11:13AM re: merger
First, Arch is PageNet. Arch bought them several years ago. Second, anti-trust is not an issue. Currently, there is no industry classification specific to paging companies that hrs would look at. view available tags
17	member 12/05/03 2:25PM re:re:merger
You have a good point, however, I think IGEN and Arch could argue that they compete against cell phones, pdas and other wireless devices and they should be able to get a merger through. But... login to read the rest view available tags
16	member 12/05/03 9:24AM re merger
i'm not so sure that a merger with arch is that easy. together, they'd have 66% of the market. that might not get past hsr so easily. awin has moved up in sympathy... login to read the rest view available tags
15	member 12/03/03 2:50PM MTOH presentation
I could agree with you more! The presentation was informative, especially with respect to the Weblink acquisition. Nice to see a CEO with his head screwed on straight. view available tags
14	member 12/03/03 2:02PM Is worth $100 a share, easy
I cannot tell you how impressed I am with the CEO and presentation they made today. I was frightened that they would disappoint us. Back of the envelope calculation, with what they can do with Weblink... login to read the rest view available tags
13	member 11/19/03 1:16PM Metrocall's investor day in NY
On December 3rd, MTOH will be in NYC at the Intercontinental Hotel from 12-2pm. view available tags
12	member 11/11/03 10:25PM Valuation thoughts
So, does anyone have any thoughts as to where this thing can go, now that it is at $200 pre-split? They are on a $100 million EBITDA annual run-rate and a $92 million annual free cash... login to read the rest view available tags
11	member 11/11/03 10:31AM Great quarter
For a "buggy-whip" company, it's nice to see EBITDA increase sequentially for the last two quarters in a row. At 2.2x EBITDA (which closely approximates FCF), seems like the downside is pretty well protected. view available tags
10	member 11/10/03 7:32PM Excellent quarter exceeds expe
They did more than $25 million in EBIDA and almost $23 million in FCF. On a net basis they have only $33 million in preferred. Next year, this company, after paying off its preferred, could pay... login to read the rest view available tags
9	member 9/02/03 11:17AM pays off $20 million in prefer
http://biz.yahoo.com/bw/030902/25274_1.html On September 30, 2003, Metrocall will redeem, on a pro-rata basis from all holders, shares representing in the aggregate approximately 30% of the entire share class outstanding. Approximately 1,797,103 shares will be redeemed by the... login to read the rest view available tags
8	member 8/07/03 7:16PM Run-up
I can only imagine it is like a lot of BKs. Bond holders are often times not economically sensitive to the value of stock...they are in business to buy and hold fixed income. They blow... login to read the rest view available tags
7	member 8/06/03 5:26PM one more question
Did the DS or any other document contain a 3rd party valuation for the equity or EV? If so, what was it? Just curious. view available tags
6	member 8/06/03 5:20PM Holy crap
Angus, Just looking at the chart, this looks like the biggest home run I've ever seen, period. I'm just curious, was caused the extreme undervaluation back in Oct? 1)obscurity 2)investor distaste for declining businesses 3)"deconstruction" risk mentioned in view available tags
5	member 7/30/03 12:46PM I really like this idea
I have done net present value analysis on the potential for cash flows and I agree fair value for this $160-$200. I also think a stock split will dramtically help liquidity. view available tags
4	member 7/30/03 11:20AM Deconstruction
This is more costly than you can calculate. As you take down systems you have to move existing subscribers to other systems. coverage is never the same, there is obsolesence in equipment and... login to read the rest view available tags
3	member 7/29/03 10:09AM re: Arch
Arch is a very similar story to MTOH. Declining business but incredibly cheap as a multiple of cash flow. They currently trade around 1.5x EBITDA, hard to see how you lose at that... login to read the rest view available tags
2	member 7/28/03 8:34PM Arch
re: Arch. Perhaps you have a terrific idea/post; looking at the price movement, I hope you've done well in an investment made and held in Arch. The truth is, I'm not familiar with Arch,... login to read the rest view available tags
1	member 7/28/03 7:25PM Arch Wireless
Thanks for the post. Do you think MTOH should trade at a premium to Arch Wireless (AWIN)? If so please explain. I'm not sure why you would want to pay a premium for MTOH... login to read the rest view available tags

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			2010	2011
Price:	9.25	EPS	na	$0.88
Shares Out. (in M):	214	P/E	na	10x
Market Cap (in $M):	1,980	P/FCF	na	na
Net Debt (in $M):	1,270	EBIT	82	420
TEV (in $M):	3,250	TEV/EBIT	na	7.8x

Description

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