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Technology Stocks : Drugmax, Inc. (Nasdaq: DMAX) - B2B pharmaceuticals
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To: Jeff Grossman who started this subject6/26/2001 1:55:39 PM
From: Paul Lee   of 20
 
Schneider Securities, Inc. Submits the Following Changes And or Reiterations of Selected Existing Research
DENVER, June 26 /PRNewswire/ --

Drugmax.com (Nasdaq: DMAX - news)

DMAX's fiscal 2001 year-end results were in line with our estimates. The exception was the write down of assets, which we indicated might take place. These write downs will create a better EPS picture going forward as non-cash charges will now be levied off of a smaller asset base. Going forward, we expect DMAX's efforts to increase its distribution of generic drugs, both in the aggregate and as a percentage of overall sales to result in accelerated margins and earnings, as well as increased revenue growth. While we expect the impact of these approaches to become most visible in the second half of calendar 2001 and beyond, we also believe the current June quarter has the potential to show some inklings of these strategies. In addition, given the recent positive results reported by other wholesale pharmaceutical distributors, we believe the prospects for the current June quarter to outrun our revenue estimates are improving. We are reiterating our Buy rating of Drugmax.com shares, as well as our 12-month price target of $12.00 per share.
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