Frank,
I couldn't agree with your post more. The analysts have been missing their projections on AccuMed because of the revenues and gross margins and not the operating expenses.
Consider Commonwealth Associates July 11, 1997 Research Update. They predicted a total operating expenses for the nine months ending Sept. 30 of $16,367,000 and actual was $16,717,928. They predicted revenues of $16,325,000 and actual was $14,157,306. They predicted a gross margin of 48.7% actual was 37.1%.
During the past few months, he slower than expected ramp-up of the AcCell/TracCell systems has caused the projected renenues to be missed and gross margins to head south. The real danger that I see would be if AccuMed permanently loss placement opportunities of the AccCell/TracCell Systems at certain large laboratories due to continued slower than expected placement of the AcCell/TracCell systems. I believe that all of the Mystery Theater players realize that they have a limited window of opportunity to establish market dominance.
I currently like AccuMed's chances!
Cisco |
