Here are a few points to start in assessing BDAL's prospects:
1. Growth rate of Proteomics (study of proteins, which is the building block of each of us) is strong. This is only ONE of BDAL’s markets. Earnings reports of co’s in this segment in past few weeks show this. Specific to BDAL, “The increase in product revenue in 2000 was fueled by strong demand for our life science products by new and existing customers, led by our high-end MALDI time-of-flight product line.”
2. Proteomics product cycle time faster than gene and drug co’s, somewhat of a cross between a soft/hardware tech and a bio tech.
3. Proteomics earlier on in the “food chain” of biotech development and more applications at a molecular level vs those later on in food chain.
4. BDAL benefits, imo, from having some operations in Europe & incurring expenses in Euro’s whereas co’s based more in USA incur USA costs. Euro has fallen significantly against $US, so BDAL has somewhat of a cost advantage relative to similar co’s operating in the US
5. BDAL operates around the world. Currently it appears to be better known in Europe, but given institutional block trades recently it looks to be getting discovered more here in North America. Strategic alignments with many big, well-know names, will give BDAL more recognition as investors look to find out about the co. Alignments with include Agilent Technologies, PerkinElmer, Sequenom, MWG-Biotech, etc.
6. Very few messages on all other message threads combined.
7. Accounting: Revenue recognized when delivered to customer, and in cases involving an independent distributor, when title to the product is transferred to the distributor’s name, ie distributor owns the product – distributor has No rights to return, other than, as with any customer, if the product isn’t working.
8. Expenses: “We anticipate improved leverage of our fixed manufacturing costs, and declines in cost of product revenue as a percentage of sales, as our product revenue increases. We are also seeking to improve our gross margin by developing new, more integrated systems and higher margin consumables for the life science market.”
9. Recent stake in Geneva Proteomics
biz.yahoo.com
Notice the connection Geneva Proteomics has…
Imo, strong growth ahead. Another quality co, like IMCL. |
