Ver good news for VISN!
Wednesday September 22, 1:51 pm Eastern Time
Company Press Release
SOURCE: RGR Financial Corp.
RGR Financial Corp. Rates Sight Resource Corp. (Nasdaq: VISN) a Long-Term Buy; 18-24 Month Price Target: $8
NEW YORK, Sept. 22 /PRNewswire/ -- The following is being issued by RGR Financial Corp., a member of the National Association of Securities Dealers, CRD number: 40898.
RGR Financial Corp., an investment banking firm, sees VISN expanding its market position in the highly fragmented retail eye care industry. VISN's management is optimistic about the company's growth visibility over the next twenty-four months.
According to Joseph DiLustro, research analyst for Alchemy Investment Strategies, he sees VISN's decision to re-focus its efforts in offering excimer laser surgery services to its estimated customer base of over 320,000, as the catalyst for new life for VISN shareholders. Also, Chet Dubov, Senior Vice President of RGR Financial Corp., is optimistic about the company's overall turnaround potential because of the company's new CEO, Bill Sullivan. He believes that Sullivan has the company focused on implementing cost savings as well as overseeing the integration of the company's recent acquisitions of Shawnee Optical Chain and Kent Optical Chain.
DiLustro believes that VISN's management can produce $0.12 in calendar 2000. He further estimates 2000 revenues of $76.8 million, which should move VISN ahead of some of its competitors according to revenues among the top 100 domestic eye care retailers. In 1998, VISN ranked 15th in its industry. Furthermore, DiLustro sees a positive EBITDA return of $0.62 in 2000, based on his earnings model.
DiLustro also believes that a buy-out potential could exist for VISN shares, provided the company can consistently demonstrate higher revenues and increased profitability over the next twenty-four months. His reasoning is that the top five industry leaders can only grow through consolidation. VISN's combination of retail eye care and laser eye care correction services should attract offers from other larger companies, in DiLustro's opinion. The only caveat is that VISN does not execute its business model, DiLustro said.
RGR Financial Corp. has a correspondent relationship with Alchemy Investment Strategies.
FULL REPORT AVAILABLE UPON REQUEST.
The information contained herein is based on sources believed to be reliable, but its accuracy, together with all estimates and forecasts, is not guaranteed and subject to change without notice. This information is not intended to be a complete record or analysis of the security mentioned, nor is it intended as an offer or solicitation to sell or buy any security mentioned herein, nor be a suitable recommendation for all investors. RGR Financial Corp., and/or their officers, employees, and members of their families may, at times, have positions in any securities discussed, and may purchase or sell these securities, from time to time, in the open market. The securities mentioned may be sold to or bought from customers on a principal basis by this firm.
SOURCE: RGR Financial Corp.
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