Apparently, clarifications of the company's conference call the other day is causing the stock to give back its gains earlier this week according to Yahoo message board:
I got a call from one of the brokers that covers our account, he said the $150M in Synvsic revenues from Wyeth is actually a decline from their last forecast of $180M, and that they are privately telling people $125M. He said that results in $50M in revenues for Biomatrix, which would be a shortfall. The most amazing part is that apparently while Biomatrix said that Wyeth's inventory was 23,000 kits, somehow the number got transposed and that it's actually 32,000 kits.
I'm passing as unsubstantiated gossip since I have not verified anything with AHP other than the $150M number (since I was on that conference call). But it is consistent with my general thesis--that there is a slowing in enduser demand that will eventually show up in BXM's EPS, making the hockey-stick quarterly projections (Robby Stephens has $0.27, $.29, $.69,$.52 for this year) unachievable.
Anyway, this is clearly what is moving the stock TODAY.
Apparently anyone who was on the BXM conference call got a fax today about the mistake of the 32,000 kits in inventory rather than the 23,000. That works out to about $1.35M of BXM revenue in the quarter
which went into Wyeth inventory rather than to enduser demand... ($50/syringe according to Pru Securities, x 9,000 x 3 vials/kit). |
