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Friday, 14 November 2003
November 14, 2003 Medical Technology Systems (MPP)
Thanks for stopping by! As ALWAYS, please consult with your investment advisor before making any decisions based on what you read here because as I always remind you, I am an amateur, and the investments I present may lead to gains or losses and may or may not be appropriate for you!

Anyway, I found a SMALL company which looks interesting on the AMEX of all places! Medical Technology Systems (MPP) made the greatest percentage gainers list on the AMEX today closing at $6.00 up $.46 on the day or 8.30%.

According to money.cnn.com, MPP "...manufactures and sells proprietary packaging systems to pharmacies that dispense prescription medications for use by nursing homes and assisted living facilities."

On November 4, 2003, MPP reported their second quarter results for the quarter ended September 30, 2003. As reported from BUSINESS WIRE on the NYTimes on the Web, revenue for the second quarter increased 18% from $6.8 million last year to $8 million this year. Net income rose 62% to $381,000 or $.06/diluted share vs. $235,000 or $.04/diluted share last year.

Looking at Morningstar.com for the "5 year restated" results, we find that revenue, while erratic the past 10 years, has steadily increased the past 5 years from $15.1 million in 1999, $18.2 million in 2000, $21.5 million in 2001, $24.8 million in 2002 and $29.4 million in 2003.

Earnings/share have also been erratic from ($2.20)/share in 1999, peaking at $2.36/share in 2001 and dropping to $.23/share in 2003.

Free cash flow has been steady at $2 million since 2001, and the balance sheet shows $0.4 million in cash and $9.0 million in other current assets vs $5.0 million in current liabilities and $7.0 million in long-term debt.

Looking at "key statistics" on Yahoo.com, we find that this company has a TINY market cap of $26.43 million. The trailing p/e isn't bad at 21.74 and the forward p/e is even more reasonable (for fye March, 2005), at 11.31. There are only 4.40 million shares outstanding and 2.80 million of them float. No dividend is paid.

This is an interesting stock and you should know that I do not have any shares. However, the pricing isn't bad and I suspect if the revenue continues to grow, the stock will also be flying. The downside for me for this stock is the small price and the ease in which it can hit an 8% loss and be out of the picture.

Good luck investing! If you have any quesitons, please feel free to write me at bobsadviceforstocks@lycos.com

Bob


Posted by bobsadviceforstocks at 7:43 PM CST | Post Comment | Permalink

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