-g- some MEAD notes.....MEAD had a 20% upside earnings surprise last Q.
has a trailing PE of 23 , a forward PE of 12, Wallstreet
city is showing a 1 yr EPS growth of 84%.
it has a price to sales ratio of 2.0, a 311 million. mkt.
they have been growing their business, and optics may
play a bigger role.
look at how MEAD came back to longterm horizontal and
trendline support, how can you not like the stock as
a technician
geocities.com
I'm going to have to buy you a copy of Edwards and Magee
-g-
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Meade Instruments (MEAD) 67 1/2 -2 1/2: Tucker Anthny Clry downgrades to ACCUMULATE from STRONG BUY. We remain very excited about the potential of Meade’s telescope business and believe that the potential still exists for a major valuation increment from future wireless optical telcom component revenues. However, increased earnings uncertainty (and today’s more skeptical market climate) lead us to reduce our rating.
27-Mar-00 10:00 -- 11:00 ET
Meade Instruments (MEAD) 59 7/8 -4 5/8: Tucker Anthny Clry reiterates STRONG BUY rating based on strength in MEAD's core market and the long-term potential of fiberless optical technologies.
06-Mar-00 13:00 -- 14:00 ET
Meade Instruments Corp. (MEAD) 23 1/16 +15/16: Tucker Anthny Clry initiates coverage with a STRONG BUY rating and a price target range of $42-$47 based on expected earnings growth of 25% annually as new products increase both sales and gross margins.
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Business Wire - June 21, 2000 06:46
IRVINE, Calif.--(BUSINESS WIRE)--June 21, 2000--Meade Instruments Corp. (Nasdaq NM:MEAD) today reported results for the first quarter of fiscal year 2001 ended May 31, 2000. The Company's fiscal year 2001 ends on February 28, 2001. All share and per share amounts disclosed herein reflect a two-for-one stock split effected in the form of a dividend paid on June 19, 2000.
Net sales for the three months ended May 31, 2000 were $22.8 million versus $17.1 million in the comparable period a year ago, an increase of 33.3 percent. Excluding non-cash charges for the Company's ESOP, net income for the three months ended May 31, 2000 was $1.9 million or $0.12 per diluted share, compared to ESOP-adjusted net income of $1.4 million, or $0.10 per diluted share for the comparable period a year ago. Including ESOP charges in accordance with generally accepted accounting principles, first quarter 2001 net income was $1.4 million, or $0.09 per diluted share compared to $1.1 million, or $0.08 per diluted share in the period a year ago.
John C. Diebel, Chairman and CEO of Meade, said: "We are pleased with our first quarter results. Sales from our most important product lines remained strong with sales of domestically produced high-end telescopes and imported less-expensive telescopes contributing the most to the increase over the prior year.
"When lower margins from Meade Europe (the Bresser acquisition) are considered, gross margins were little changed at 40.7 percent versus 41.6 percent a year ago," continued Diebel. "Selling, general and administrative expenses, although up approximately $1 million, were only 24.0 percent of net sales in first quarter 2001, down from 26.7 percent a year ago. Of the $1 million increase over the prior year, approximately $600,000 was attributable to the Meade Europe operation."
Commenting on its relationship as an original equipment manufacturer for TeraBeam Corp., Diebel said: "We continue to work closely with TeraBeam in the manufacture of components and equipment for its optical wireless network. During the quarter we began shipment of the components and equipment to TeraBeam in limited quantities. While we remain optimistic about the future of our relationship, we reiterate that the ultimate quantities and timing of the Meade products ordered by TeraBeam will depend upon TeraBeam's market roll-out."
Meade is a leading designer and manufacturer of optical products including telescopes and accessories for the beginning to serious amateur astronomer. Meade also offers a complete line of binoculars for the casual observer to the serious sporting or birding observer. The Company distributes its products worldwide through a network of specialty retailers, mass merchandisers and foreign distributors. Additional information on Meade is available at www.meade.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The matters discussed in this news release contain comments and forward-looking statements based on current plans, exceptions, events, and financial and industry trends that may affect the Company's future operating results and financial position. Such statements involve risks and uncertainties which cannot be predicted or quantified and which may cause future activities and results of operations to differ materially from those discussed above. The historical results achieved are not necessarily indicative of future prospects of the Company. For additional information, refer to the Company's filings with the Securities and Exchange Commission.
MEADE INSTRUMENTS CORP. |
