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Biotech / Medical : Misonix Inc. (MSON) -- Ignore unavailable to you. Want to Upgrade?

To: Peter H. Mack who wrote (527)	11/1/1997 1:19:00 PM
From: ejsdad	Read Replies (1) \| Respond to of 947

I think a backlog of $6.4million was indicated on the conference call.

To: Peter H. Mack who wrote (527)	11/1/1997 1:36:00 PM
From: puzzlecraft	Read Replies (2) \| Respond to of 947

Peter, In your section comparing EPS to revenue, your 3Q figure of .40 was pre-split, the others post-split. You say there were "an additional million shares added after the split". I do not see where you are getting this. For the June 30 quarter MSON said there were 4,318,000 shares, which adjusted for the 3 for 2 split would be 6,477,000. The latest quarter shows 6,737,000 so the increase is 260,000 shares. If you look at the pre-tax income for the last four quarters, I see 975K, 1482K, 2316K and 1259K. The 12 month sum is 6032K. Subtracting, say 30% for taxes gives 4222K. Dividing by 6737K shares gives 63 cents, so I'd say the trailing PE, adjusted for current taxes and share dilution, and a current stock price of 8 19/32 is 13.6. This coming Q should be nice, given that $3,200,000 of the tissue aspirators are supposed to ship. The cauton, IMO, is that the rate of overall growth has slowed a bit, and is not running that much faster than the rate of share growth. John