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Biotech / Medical : C3 ( CTHR ) Diamond in the rough?
CTHR 0.4000.0%Oct 31 12:16 PM EST
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To: Leslie S. Feinberg who wrote ()10/22/1998 10:21:00 PM
From: Mr Bones  Read Replies (2) of 226
 
I just listened to the CC. If you're interested, better hurry as the replay is only available until 5PM on Friday Oct 23 at (800) 938-0932. Hurrah to them for providing a toll free number.

JMO, but the opening remarks (from Hunter, I believe) sounded like an infomercial, heavy on the rah rah and you're going to love us. I couldn't help but notice the contrast between this CC and the MSPG CC that I listened too last night -- MSPG sounded so much more professional. Fortunately, this didn't carry through to the rest of the CTHR CC although I hope they'll invest in a better speakerphone.

My notes:
- C3 has about $5/share in cash
- There is a 75 day lag from cree raw materials to saleable gems, this is down from 90, they hope to get it to 60 mid Q1
- COlor is improving but improving color is a secondary goal to improving yield
- expect $6-7m international revenue in 99
- on a scale w/CZ =1 and diamonds = 100, moissanite price is around 12-18
- Analysts FY98 loss estimates are at the high end of C3's expectations.
- 18-20k carats/month is about breakeven
- Hope to be profitable Q2 or Q3 99
- Hope to have 4-500 retailers by mid 99
- Hoping for gross margins "much much higher" than 18%. Very dependent on yield improvement.
- Current inventory ($1.8m on balance sheet) is mostly testers.
- Revenue/carat increases as the size of the stones increase
- CTHR - "There is a possibility -- and I emphasize that word -- that we would be profitable for the entire year of 1999."

Good luck to all
Mr Bones
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