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Biotech / Medical : ACMI - Accumed Inc.
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To: george who wrote (399)10/30/1997 5:59:00 PM
From: aatkinson  Read Replies (1) of 1894
 
Obviously not good news. Although revenuse are up significantly, the gross margin has slipped from 56% down to 32% - quite a drop. They doubled their discretionary R&D budget so they're not as worried as you and me about near-term earnings. They had a significant increase in interest payment due to the additional debt and over all they have missed the street-expected loss of $.06 by a negative 133% - not good. They hype the operating margin change but say nothing about the significant negative direction in the gross margin.

Since the company is unusually tight lipped, we wont get all the gory details until the 10Q comes out later in November.

It is extremely difficult to project any earnings, let alone positive earnings, when the margins keep changing, the level of R&D expenditure moves wildly and the amount spent on "selling" decreases with increasing revenues. Still, have to wait for the 10 Q to get additional detail. In the meantime, barring uncommon additional information from the company, I would expect the price to fall
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