MDFT closed today at .90/.95 after hitting 1.00 intraday. There are several positives here incl rising revenue and net inc, 11 profitable qtrs in a row, cash has doubled in the last 6mo, ciompany meets all nasdaq criteria except for price, alliance programs and Medifast Plus for Diabetics really starting to pay off, margins are rising, business model uses the internet the way it was supposed to be used, and there is no apparent reason why all of this won't continue. Company just purchased a building to allow for expansion.
Latest earnings report then info from 10q:
B: Medifast YTD Profits Exceed All of Last Year Revenues and Pr
B: Medifast YTD Profits Exceed All of Last Year Revenues and Profits up Over
80% Total Capital Increases by 1 Million in 6 Months
OWINGS MILLS, Md., Jul 25, 2002 /PRNewswire-FirstCall via COMTEX/ -- Bradley T.
MacDonald, Chairman of the Board of Medifast, Inc. (OTC Bulletin Board: MDFT)
announces that, "10 QSB results are as follows: Revenue; 4.8 million, an 81%
increase YTD, Margins increased to 65%, Profit from Operations up 87% YTD, Net
Income reaches $936,000 up 116% YTD, Income attributable to shareholders is
$891,000 up 134% YTD. The successful launch of `patent pending' Medifast Plus
for Diabetics and the company's Physician Lifestyles Program supported by its
teleweb operation is responsible for the improved performance of the company."
The company significantly improved its total capital by 1 million dollars and
improved its cash position by 100% in just 6 months.
The company's aggressive new product development program and its national
advertising programs in Readers Digest, People Magazine, U.S. News and World
Report and Parade have significantly increased revenues and margins during the
first 6 months. Medifast has already surpassed last year's 12-month profit
results in the first 6 months.
Chairman MacDonald says, "The market will eventually catch up with our superb
operating results and profitability. We now meet the requirements for re-listing
on the NASDAQ with the exception of stock price. The company has achieved 11
consecutive quarters of profitability and improved total capital or net equity
by 4.5 million since October 1999. We are proud of the dedication and
professionalism of the Medifast employees and management team, who have worked
so diligently to achieve these results."
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