The ESON story looks good:
-Surprise Q profit 3 months ago, now EPS (before extraordinary charge) more that 10% better than expected. Asian problems do not seem to hurt too much. CEO sounds upbeat
-the most recent deals are probably OK: product development together with an European stent-company (www.jomed.com) ; on the downside, one might argue that all the biggies (Guidant, Art Vascular,J&J,…) probably were not interested in a combined IVUS-stent approach.
-during the past several months no insider ever sold a share; they only bought, albeit in a chicken-hearted way (1000 shares here, 2000 there).
-ESON trades at 2 times book value; assuming they earn 0,45 next year (EPS) and 0,7 thereafter: still a cheap stock at 6,75; should trade more somewhere at 14-20 in the next 12 months,... if they deliver.
Nice run-up (over 50%) though, since my last posting (I wonder whether "private investor Patterson" sells his stake again?).
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