For those of you without access to AOL I will copy a post found there about the MSON 10Q:
Subject: 10Q, Estimates and Other
Date: Fri, May 15, 1998 15:13 EDT
From: Wesley0428
Message-id: <1998051519133500.PAA14776@ladder01.news.aol.com>
Couple of comments on the 10Q. As I previously mentioned, cash on hand increased by $1.3M ($.20/share) from the previous quarter. Making this even more impressive is the fact it was done despite a $336K investment in Property, Plant and Equipment during the quarter and paying off $263K in bank notes (Labcaire).
This cash performance was accomplished in part by reducing A/R Days Sales Outstanding from 93 DSO to 71 DSO. Great progress, but I'd like to see DSO below 60.
Inventory performance also improved, with Days Of Supply decreasing from 101 DOS to 86 DOS.
There are a couple of other questions re: the 10Q that I need to get answered, so I may have more to say next week. Overall though, MSON continues to have one of the cleanest 10Q's you'll ever see - we just need the numbers to get bigger :>)
Estimates
The only analyst, that I know of, that continues to follow MSON has raised his own Q4 targets. His previous numbers were as of 1/5/98. His new Q4 estimates raise revenue estimates to $7.1M from $6.5M (seems like a good idea since they already did $6.5M in Q3). He raised his "reported" EPS estimate from $.18 to $.19.
His Q3 estimates, as a point of reference, were $6.2M revenues and $.17 EPS.
I'm comfortable with those numbers for now.
Other
A comment somewhat overlooked from the conference call was regarding a question concerning the $1.1M air pollution system order scheduled to ship this quarter and whether there might be more orders like that in the future. The answer: we currently have bid / or are bidding on several such systems which could be larger than that. Be nice to see one of those bids won this quarter.
MDA/Lysonix sales are up, as stated in the conference call. Definate sales uptick in March which continued through April. Lysonix had a successful trade show in L.A. recently. Lysonix has started to use discounting to get more sales. This is long overdue IMHO and does not affect Misonix revenues (does have a minor impact on royalties).
Mentor suit (in "discovery" phase) is proceeding on schedule. No hearing date yet.
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