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Biotech / Medical : OSTEOTECH (OSTE)
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To: majormember who wrote (95)7/20/1998 8:35:00 AM
From: Ed Richmond  Read Replies (1) of 141
 
2Q net .26 share diluted versus .17

This beats expectations by .03 or more that 10%. IBES had 5 analysts- four looking for .23 and one looking for .24 (Sturza Medical). Expect this thing to push higher today.

They also said 2Q revenue increased 43% y-o-y and 13% sequentially. At the same time earnings increased 73% y-o-y.

Bauer, Pres and CEO said "This has been a particularly active and rewarding quarter for the Company. Oven the last six months there has been concern expressed in the investment community that the Company's Grafton(R) DBM market position would be negatively impacted by a competitive tissue product introduced in fourth quarter 1997 which claims superior performance compared to Grafton(R) DBM. To the contrary, the Company has been able to refute these claims through scientific fact and continues to penetrate the market by providing a product that surgeons know they can rely on to provide excellent clinical results. The best evidence of this is that Grafton(R) DBM end user sales in first quarter 1998 increased 7% over fourth quarter 1997 and was followed by a 15% increase in second quarter 1998 over first quarter 1998."

Technically there is some good resistance at the $26 area so I think we should see this area tested this week. Good luck to all.

-Ed
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