MATERIAL "TEK"

TEK

TEK announced last night and it was monstrous. EPS of 1.44 for the quarter, vs. consensus of 0.84. Even after striping all non-operating stuff, it still earned 1.25. Over one billion cash flow for the year. Outlook strong with production up and pricing for most commodities firm. Can’t see any weaknesses. The 05 EPS consensus number of 4.37 would have to be raised, perhaps over 5.0, and I would not be surprised to see target raised to above 50. If this market does not respond positively to this monstrous report, I think I should sell everything and roll them all into GIC.