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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Sal D who wrote (10970)	8/19/2005 4:54:42 PM
From: Sergio H	Read Replies (1) \| Respond to of 23958

Sal, Ray's been giving me the credit on ADSK, however it was your call. Please take a bow. WOOF's formula has has been growth by acquisition. While their same store sales growth is important, its also important to look at how the newly acquired stores fit in. WOOF has increased their share float and refinanced to fund their expansion. So, there's growing debt and higher debt payments. You asked about debt retirement costs. These are the fees associated with financing, such as deferred interest, pre-payment penalties, conversion costs, etc. that were conditions of the financing. WOOF's business plan has been successful and I don't know of any direct competition. Is there any other national vetenary operation? They're now in the cycle where they need to demonstrate that economy of scale has been implemented into the newly acquired components from their recent buying spree. The lower margins were actually expected and margins have come in higher than expected.