To: Joe Copia who wrote (17328 ) 7/2/1999 10:43:00 AM From: Country Tyme Respond to of 25711
This may be of interest... just posted as a pick... Today's Great Pick is: NOVI Company Name: Novitron International, Inc. Recent Price: $ 1 3/8 52 Week High: $3 13/32 Float: less than 700k (very small) Book Value: $3.27 Novitron International, Inc. designs, manufactures and markets scientific instrumentation used in clinical and analytical laboratories. For the nine months ended 12/31/98, revenues increased 25% to $11.3 million. Net loss totalled $394 thousand vs. an income of $155 thousand. Revenues reflect the delivery of two new products for allergy testing and the measurement of drugs-of-abuse. Novitron is a multinational company focusing on scientific instrumentation used in clinical and analytical laboratories and in process monitoring. The Company's Dutch subsidiary, Vital Scientific NV, designs and manufactures scientific instrumentation marketed worldwide through distributors and strategic partnerships. The Company's subsidiary Clinical Data (Australia) Pty. Ltd. distributes diagnostic instruments and assays in the South Pacific and has a strategic alliance with Medical Innovations Limited for the development of immuno-diagnostics. The Company's Dutch subsidiary, NovaChem BV, develops and markets process monitoring technology for petrochemical and environmental applications. Israel M. Stein, M.D., President of Novitron International, Inc. stated, ''In fiscal 1999, we reported increased revenues at all operating divisions with profitable contributions at Clinical Data (Australia) and NovaChem. At Vital Scientific, the new Hytec 288 manufactured for Hycor Biomedical, Inc. and the Vitalab Viva Drug of Abuse and Therapeutic Drug Monitoring analyzer produced for Dade Behring have had a positive effect on sales, but competitive pricing pressure and increased R&D expense impacted profitability.'' Dr. Stein also noted, ''In an effort to improve performance for the coming year, the Company has put in place a cost containment program with a reduction in force and other cost savings measures, approximately $97,000 of which was charged to the fiscal 1999 year end results and about $81,000 will be charged to the results of the first and second quarters of fiscal 2000. The future annual savings are expected to be approximately $400,000.'' We feel that with this news of increasing revenues and plans for future growth, combined with a very small amount of available shares (float of less than 700,000 shares), Novitron's stock price could be near it's 52 week high soon.