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Biotech / Medical : Lukens Medical
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To: David Rubin who wrote (3)3/27/1997 8:55:00 PM
From: John H.   of 55
 
David -

Nothing wrong at all!! The loss was really a gain if you take out the inventory writedown, which was done for POSITIVE reasons. They have lowered their manufacturing costs and some of their inventory they can now produce cheaper so they decided to write it down - it is a one time event whcih will make this year even better - They did $8+ million vs. a much lower number on the top line , the bottom line was $.25 excluding the one-time loss vs. breakeven. Nobody even paid attention to the rest of the press releases - that they are making a VERY accretive acquisition, that the first quarter will be a record quarter, and that the second should be even better than that!! The company is onrecord saying they will do $13-15 Million in revenue and $.45-$.5 share for 1997. These numbers are before the acquisition announced today or the approval they got from the FDA for their disolvable suture, which are selling great! So, if you add it all up htey should do much better in 1997 than even these numbers. I believe today's action was due to several factors: a lousy overall market, a misunderstanding of what they announced today, and a group that is short that manipulated the stock. This latter group is goning to be in for a rude surprise very soon when the buying comes back into this stock and they are forced to cover.

This one is goning up!!

Good luck
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