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Biotech / Medical : Medical Technology Systems MSYS
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To: Dave B who wrote (63)12/28/1997 2:32:00 AM
From: Bob Carlson  Read Replies (3) of 139
 
Dave this company has seen better times. About 4 years ago it was over $12 a share and listed in Forbes top 200 best small companies. I can't help but think that current management remembers those days and would like to get back to the kind of performance that was indicative a good small company. Good sales growth and increasing financial strength.

I am heartened by the sales growth. They have one side of the equation working. Now what they need is better cost control without impeding sales growth. Over the last year working capital has declined from $5.5 million to $3.6 million. Just over a million of that decline is cash. Fundamentally this is a company with about $20 million in annual sales and around 6 million shares outstanding trading at around 25 cents. If they can get control of operating costs once again, this stock is dramatically undervalued. On the other hand, we have yet to see substantial progress. I'd like to see some positive progress this quarter. Improving revenue growth with a stable operating cost would be a good start. I liked this company four years ago and didn't invest in it. Now, I'm letting my contrarian nature put me in at what we hope will be bargain basement prices. Like you Dave, I'm banking on '98....

Bob C
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