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Biotech / Medical : Biosource International

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To: Joe Dancy who wrote (686)	6/6/2002 5:40:27 PM
From: Crossy	Read Replies (1) of 696

BIOI (NasdaqNM: Biosource @ $6.00) I posted this just for reference.. I held this stock early this year and sold it after a stop I had set was violated for a nice profit. Then one broker put out a sell recommendation as the company announced to be gearing ready for higher R&D and a much expanded product line. However the following quarter gave a big surprise as earnins were up instead of down (EPS 0.05 before accounting charge of goodwill wrt. new FASB rules). Valuations are so nice now that I finally decided to go long again... Price sales at 1.80, implied PSR at 1.50. Gross margin improved, Revenues up more than 10%, almost at $10m per quarter run rate now.. This is a biomaterials company, a smaller competitor to the bigger firms like Techne. Think it's time to get in now as the chart has found a good floor at the $6 level. Probably some upgrades to come too.. best rgrds CROSSY

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