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Sorry to be just getting back on the thread guys (& gals? Are there any ladies following this stock, for Pete's sake -- no pun intended), but it's been a real busy day. Yesterday afternoon I e-mailed Gregg Lampf, the MATK IR man, asking him for some feedback, & "better yet, post it on the SI thread".
I didn't see it 'til 10:30 this AM (CST), but he sent it at 5:40 pm Wed. In the response he gave the 800# of the conference call -- I had no idea there was a conference call! I listened to it & took copious notes (it was 63 mins long), & planned to put the # on the board immediately... but work called, & I never got into SI. And I left the # at work!... May be gone now, anyway :((
I also left the notes at work, but I'll get most of the info on in the next day or so.
But a few highlights off the top of my head:
1. It was chaired by the CFO & CEO (Pete -- hence the pun note). Both were as forthright and open and unhesitant as you could expect. Naturally, they couldn't comment specifically on Vector's analysis (which basically seemed to have pushed Vector's prev. est's of goals for Martek back 8-10 mos. from what a questioner was saying). Nor could they say (even if they knew) what kind of sched's Novartis, Wyeth (sp.?) and ?? were projecting re. marketing of the product in their various (non-US) regions.
2. BUT they pointed to the conference call they had last Fall, & some statements they made in Jan., & said that their projections now are the same as they made then -- except for the slower-than-expected coming up to speed with production of their oils products... and even that was getting worked out, & to expect their inventories to start growing (which is good) over the coming months. They repeated this theme several times.
3. Expect a new "intro." of formula somewhere this summer, & it sounded like not a terribly insignificant one -- I use all those double negatives so as not to imply that it's anything incredible -- they just seemed to give it a bit of significance. Oh, & I'll have to check my notes, but I think they expected an additional couple of "new territiories" in the fall.
4. They said that there weren't any gloomy faces around Martek, except concerning the stock price. As in 2 above, they painted a picture of steady optimism and comfort in the "way the plan was going".
5. There is an ongoing study re. a 60% risk factor re. low DHA & senility/dementia/etc. among people in their late 60's/early 70's (the age of the group in the study). This will be coming out in the fall in a big scientific periodical (not named). And, there are other studies (not necessarily done w/ Martek) re. benefits of DHA.
6. Some 3,000 OB/Gyn's went thru their booth at the last OB conference; they're getting the word out in a marketing-blitz fashion (my wording) to health-care pro's; look for stories in gen. public publications re. DHA in the coming months. And Le Leche has endorsed (if that's the right word) either the DHA concept, or "Martek's efforts"... I'm not sure the precise "label", but they said that it was the first endorsement of a manufacturer made by Le Leche (MATK was at their (annual?) meeting last July). And if you've ever been around any of the L.L. people, you know what a tough group of hard-to-influence people they are! -- that sounds like a great ringing endorsement to wave in front of Moms' faces.
7. Someone noted the wide inclusion of fish-oil DHA in Japanese foods, & asked if there was a market for us there. Basic answer: NO, because reg's re. ingredients declarations are very lax in Japan, & in many cases the amt. of DHA placed in a can or whatever is virtually unmeasurable -- yet it still says "contains DHA". So it's an uphill battle even if you publish how much of your DHA you put in.
8. A lot was described re. fish-oil DHA vs algae-derived -- I'll put that in a later post.
9. Eight "European" countries are selling DHA formula: UK, Spain, Belgium, Holland, Saudi Arabia, Norway, (... & I suppose the other 2 are France & Germany -- have to see notes). Novartis is selling in all but Belgium & Holland.
10. Very little of the revenue in this quarter came from Spain & ?? revenues... apparently those dollars are just coming in, & the CFO seemed to have made a quick rough est. & put it in the report at the last minute. ... so they could give no projections re. #'s to expect from there, apart from saying that they'd placed big initial ordes, & had made a subsequent order, & "weren't complaining"... (I think I'm reporting accurately about the right area -- Gregg L., why aren't you here sharing this info.??!)
11. On the U.S. DHA adult additive front, things seem to growing to their's & their distributors' satisfaction. They've been watching the Baltimore/D.C. area closely, & it looks good & seems to mirror the general #'s nation-wide.
I'll stop here 'til tomorrow. I'll list the non-private questioners as best I could understand their names. Glad to hear the encouraging words from H&Q. Other conference listeners please correct/modify any of my fuzzy-remembered details, & amplify where possible.
P.S. I doubled my meager shares at 11-1/2, & glad I did. Good luck to us all! |
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