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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (19142)4/24/2004 10:14:03 PM
From: Grommit  Read Replies (1) of 78667
 
RCRC - sold 1/3 of mine last week. I think it's a decent "hold".

Since I mentioned ERES last week, they came out with nice earnings and outlook. The conf call was exceptional. In addition to the 2004 outlook below, the board is confident in 50% revenue and earning growth in 2005.

"The company also raised its estimates for the full year. It now expects revenues of $114 million to $116 million, exceeding the company's previous guidance of $107 million to $109 million. The revised guidance represents at least a 70% increase in revenues from the full year 2003. It also expects full year diluted earnings per share of $0.88 to $0.90, exceeding previous guidance of $0.82 to $0.84."

The FDA is recommending that clinical trials in the future be monitored by this technology. ERES is the mkt leader.

from company website:
The Company is a market leader in providing centralized electrocardiographic (diagnostic) services and a leading provider of technology and services designed to streamline the clinical trial process by enabling its customers to automate many parts of a clinical trial.

In October 2003 the FDA urged companies to include QT studies during Phase I trials. The FDA also recommended that ECG data be funneled though centralized ECG processing labs. This is exactly what ERES does.

Not a value play. And at $34 now (was under $30 when I posted last week), I don't know if it is a good deal. But I am happy to be holding it -- as a long term growth stock holding.

grommit
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