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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)
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To: Creebo Hoe-Down who wrote (1583)7/30/1998 1:32:00 PM
From: _DB  Read Replies (1) of 3414
 
Thanks for that insider update, it is really good information to know.

Previously I had discussed the reserves this company had built up during the first quarter (with the A/R bad debt and sales allowance reserve - up $1.5 million on the quarter), another point I'd like to make about that:

When fiscal year 1998 results were released and the company guided analysts a little lower ($.11 to $.13 from the previous $.14), the stock took a pretty good hit, and stayed there as we all know. Well, it would seem to me that the quarter wasn't going to be lower like they initially thought, but since they had guided the "street" lower, that maybe it would look strange and even a bit embarassing if it turned out that the warning was completely unnecessary. So, the thinking here is ... the increased reserves reduced the earnings into their previously announced range, that the quarter could have even shown better results, and that going into the future there shouldn't be too much risk for them to at least meet, and more likely beat (unless they already guided lower?), the estimates.

Like the rest of you, I am loving the large blocks going through on the ask side this afternoon, let's hope we're not just being teased here.

DB
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