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Biotech / Medical : Primedex Health Systems, Inc. (Nasdaq BB: PMDX)
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To: The Pope who wrote (7)7/24/1997 4:10:00 PM
From: Edward P. Buzinky   of 39
 
The stock dipped to the .33 level on no volume in reaction to the crappy numbers in the 10K for the year ended 10/31/96. The K was released about 1 month ago due to the delay in reinventing the accounting systems of the DIAM sub. PMDX has a chunk of its accounting dept dedicated to getting caught up on the rest of the overdue fins. The DIAM 10K for the year ended 12/31/96 should be out in a week, and the PMDX Q1 10Q and the DIAM 10Qs for the three periods in 1996 should be sent to edgar within 2 weeks.

The real reason for the tardiness? I've asked ceo Berger 10 times, and am convinced that the above is the reason.

PMDX Q1 should not be great. Again, its as of 1/31/97 so it's dated. The real nice stuff comes in Q2, as of 4/31/97. Biz picked up substanitally in the quarter, and the co should show a huge gain from the DSHM sales - + or - 30 cents per share, and that's for 1/8 of their combined businesses. I'm also hoping for an operating profit.

Q3 biz is even better than Q2, and with debt way down, we should get a nice pix of where the company really is. Finally, something to cheer about.

With the consolidation ongoing in the industry, its easy to assume that everyone is talking to everyone. If someone wants to do scans in California, they have to go through PMDX.

I see a buck to 1.25 per share as very attainable.

BTW, excellent nom de plume.
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