JMHO, Good financials, but bush league financial presentation. I thought I'd share a
summary of my thoughts and a spreadsheet I worked on with data from the latest and 9 month NR.
I've added some ratios. Sorry about the formatting.
Quick summary:
o 4Q Revenues were $3M - very good!
o 4Q Expenses way up - bad, need some controls, breakdown
o 4Q Net down due to expenses
o 4Q ESP contributed only 1.1 cents vs 5 cents for 9 months
o Annual ESP 6.1 cents - not bad
o Quarterly sales growth 53% - very good
o Annual sales growth 112% - excellent
O PE 29.5 times - very good, actually low
o each share buys us .45 cents in sales dollar and .06 net income - average
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1999 1999 **Delta 1998 1998
12 Month 9 Month 4Q 12 Month 9 Month
Shares 19,472,856 18,682,856 790,000
Share Price 1.80 2.72 -0.92
Revenue 8,700,758 5,716,080 2,984,678 4,094,600 2,124,942
**Expenses 7,583,993 4,828,761 2,755,232 4,803,788 2,530,532
Net Income 1,116,765 887,319 229,446 -709,188 -405,590
PreTax Margin 13.1% 6.80%
EPS 0.061 0.050 0.011 -0.044 -0.03
EBIT 1,912,827 401,014
Fixed Assets 14,956,065
Cap Leases 8,773,091 7,299,730 1,473,361 10,538,923
S/H Equity 15,873,511 15,580,228 12,489,559
Debt:Equity 0.61:1 1.22:1
**Price Earnings 29.51 54.40
**Sales/Shares .45 .31
**Q Sales growth 52.22%
**A Sales growth 112.49%
** = manual calculations
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I think the numbers are very good. I especially like the increasing revenues,
black ink, sales growth, pe. Should support a higher
share price. Today's early stock action had me concerned
when the market tested 1.70, but I bought more anyways.
I'm interested in hearing what the threadsters here
think about the numbers and todays stock price action.
Sentiments and comments? |
