ESCMF makes equipment to remove varicose veins! Message Board

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Biotech / Medical : ESCMF makes equipment to remove varicose veins!

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To: Brezlin who wrote (101)	10/20/1998 11:16:00 AM
From: Ariella	Read Replies (1) of 119

Listened to conference call this morning, after company reports eps higher than their pre-announcement suggested. Some highlights: $141 million in cash (includes l-t marketable securities) Works out to $5/share based on fully diluted shares Very solid conf. call. Q3 slower than expected, 15% lower than previous quarter in 98 Gross margins -- Q3 66% - slight improvement over Q2 1998 slower mainly in international markets; slight increase in US; slowdown in international not atypical in non-US markets in summer months CEO said: "fundamentals very, very strong. we continue to gain market share." Have"great product pipeline." US/Foreign sales 60% to 40% Have little Far East exposure Q&A US -- growing 2 -3 $ Expense structure going forward? No reductions in sales force expected, says CEO. We have streamlined operations, closed a few facilities in US that came with Laser, (integration of that company going well); reduced employees by about 8%; Mfg may see some additional cuts that will enable us to get to gross margin over 70% Share repurchase - completed 1 million; now authorized to buy an additional 1 million shares plus portion of convertible debt Company will present at 7 or 8 major medical conferences in Oct. Current assets: $55 million inventory $141 million cash (incl. $76 million long-term marketable securities) $83 million Accounts Receivable Negligible Accounts Receivable in Latin America What percent of Receivables are in Latin America lt debt - $88,000 ; $116 million convertible bonds Most promising new products in terms of revenues ENT -- the kids' ear product Elite product - office treatment of excessive menstrual bleeding OB/GYN Stock Price Drop Future potential for growth????Has it peaked???? Do you believe you can grow eps at least as fast as 20% in next few years. Resounding "YES!" from company US Hair Removal Market (CLZR is one competitor) Has this put pressure on Epilight? How countering? We believe we have very significant market share. Market pressure didn't change our pricing or payment terms. We may do something there to grow more dramatically and to reach new markets. Any next-generation on hair-removal products? Yes, plus other products. __________________________ Stock is making new base today, short terms out/ long termers in.

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