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Friday, 30 May 2003
May 30, 2003 Eon Labs, Inc. (ELAB) NASDAQ
Happy Friday everyone. A short week for investors but a great month and another great start on the market today.

Usually mid-morning, I break away from work for a second or two to check the CNN.money lists of greatest gainers. This is a bit of a new one for me. I don't own any shares but sure am tempted.

Eon Labs, Inc., according to CNN.money "is a generic pharmaceutical company engaged in developing, licensing, manufacturing, selling and distributing prescription pharmaceutical products." Sounds a little like two other of my favorites, AAII and LCI.

The stock is currently having a GREAT day, trading up $2.53 at $29.55 (10:09 CST), this is a 9.36% jump.

On April 24, 2003, (6 days ago), ELAB reported their first quarter results with net income of $15.1 million in the first quarter compared to $6.3 million for comparable quarter in 2002. (per NYTimes on the web). Net Sales were $70.9 million for the first quarter compared to $48.2 million in comparable quarter in 2002...an increase of 47.0% (!). They guided higher with expectations in the second quarter of 2003 to be between $70 and $75 million.

Looking at Morningstar.com on ELAB, we find STEADY revenue growth from 1997 of $49.7 million, $55.8 million in 1998, $78.0 million in 1999, $119.7 million in 2000, $165.4 million in 2001. Currently with $70 million/quarter, we are looking at a revenue rate of approximately $280 million. IMHO these are AWESOME numbers!

Looking at free cash flow, we find a steady IMPROVEMENT from -14 million in 2000 to +$26 million in 2001, but down to +20 million in 2002.

Assets/Liabilities picture on Morningstar is BEAUTIFUL. Cash on hand totals $87.3 million which is MORE than current liabilities of $64.3 million and long-term liabilities of $7.4 million combined! In addition they have and additional $120.1 million in other current assets.

This stock paints a very PRETTY picture. I don't own any shares as I write, but as I review the numbers as I write, I am tempted to add a little to my portfolio....but I will try to keep to my own rules....and wait. Have a GREAT WEEKEND everyone.

Thanks for stopping by. Please leave comments here or contact me at bobsadviceforstocks@lycos.com if you have any comments, criticisms, suggestions, etc.

Bob


Posted by bobsadviceforstocks at 10:19 AM CDT | Post Comment | Permalink

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