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Monday, 19 April 2004
April 19, 2004 Misonix (MSON)

Hello Friends! Well do you have the Monday morning blues? Well maybe I can find something to change that a bit...help everyone think happy thoughts :). O.K. enough of the Polyanna stuff, remember to ALWAYS do your own homework and investigation on all of the stocks that are mentioned here, remember that I am an AMATEUR investor and you must check with your financial advisor before making any decisions based on information on this website to make sure they are appropriate and timely for you!

That being said, I came across Misonix (MSON) this morning which had a nice move. As I am writing, MSON is trading at $11.35, up just $.45 or 4.13% on the day. Honestly, it WAS trading a little higher a moment ago!

According to the Yahoo "Profile", Misonix "...operates in two business segments organized by product types: industrial products and medical devices."

On January 29th, 2004, MSON announced 2nd quarter 2004 earnings results. Revenues for the quarter were up 14% to $9.3 million from the prior year. Net income of $389,000 was up 244% from the prior year for the same period. On a per share basis this came in at $.06/diluted share vs. $.02/diluted share the prior year.

If we review the "5-Yr Restated" financials on Morningstar.com, we find that revenue has grown nicely from $24.8 million in 1999 to $37.6 million in the trailing twelve months. Earnings have been a little erratic dropping from $.30/share in 1999 to a loss of $(.75)/share in 2001, and then improving steadily to the current level of $.24/share in the trailing twelve months.

Free cash flow, as reported on Morningstar.com, shows '0' in 2001, decreasing to $(4) million in 2002, and then improving to $2 million in 2003 and $4 million in the trailing twelve months.

How about the balance sheet? Per Morningstar, MSON has $4.9 million in cash and $17.1 million in other current assets balanced against $6.7 million in current liabilities and $2.0 million in long-term liabilities. This bias towards assets looks nice to me!

What about valuation questions? Looking at "Key Statistics" on Yahoo, we can see that MSON is a SMALL company with a market cap of $75.75 million. The trailing p/e is a bit rich at 48.22, but the forward p/e is at 30.76. And thus the PEG isn't bad at 1.55. Price/sales also reasonable at 1.93.

There are only 6.66 million shares of this company outstanding with only 5.70 million of them that float. Currently only 1,000 shares, as of 3/8/04, are out short representing 0.02 trading days or 0.02% of the float.

No dividend is paid, and the last stock split reported by Yahoo was October, 1997, when a 3:2 stock split was paid out.

Looking at a "Point and Figure" chart, in my basic understanding, it appears that the stock price broke out through a resistance level at about $4.25 in August, 2003, and has headed higher since.

Overall, this is an interesting, if small cap, stock investment. I do not own any shares but IF I were in the market, remember I am supposed to SIT ON MY HANDS UNTIL I SELL A PORTION OF AN INVESTMENT, I might consider buying a few shares :).

Thanks so much for stopping by! If you have any comments, questions, or words of encouragemnet, please feel free to email me at bobsadviceforstocks@lycos.com

Regards!

Bob


Posted by bobsadviceforstocks at 10:35 AM CDT | Post Comment | Permalink

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