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Wednesday, 25 June 2003
June 25, 2003 Biosite (BSTE)
This one I have owned for awhile with a brokerage firm in the Cities (Minneapolis for all of you non-midwesterners!)..This is a managed account and I do not make the selections. But I can see why my advisors liked this one.

According to CNN.Money, Biosite, Inc. "develops, manufactures and markets diagnostic products that improve the quality of patient care and simplify the practice of laboratory medicine." Is that ABSTRUSE enough for you?

On May 1, 2003, BSTE reported their first quarter 2003 results: Per the NYTimes on the web, revenues grew 114% and net profits grew 265% (!).

Five year financials on Morningstar.com shows a beautiful series of bar graphs with revenue of $31.7 million in 1997, $37.1 million in 1998, $43.7 million in 1999, $55.0 million in 2000, $66 million in 2001 and $105 million in 2002. Isn't that spectacular?

Free cash flow has improved from positive $1 million in 2000, $15 million in 2001, $12 million in 2002.

This company has LOADS of cash with $70.9 million of cash on hand compared to current liabilities of $18.1 million and $5.3 million in long term debt. This does not take into consideration the $27.9 million in other current assets reported on Morningstar.

By the way, BSTE is having a GREAT day today trading at $48.15 up $4.20 or 9.55% on the day.

The market cap is $658.9 million and there are only 15.0 million shares outstaqnding with 13.7 million that float. (are the others sinkers?)....yuck

The stock does trade at a kind of high p/e of 39.17...and like I said above I DO own some shares of this stock. But if you just LOOK at the numbers and the bar graphs on morningstar.com, I will let you make your own decision...

Reminds me of the old Alka Seltzer commercial with the mother offering her kid some spicy meatballs...."Try it you'll like it!"...that's kind of how I feel about THIS company!

Bob


Posted by bobsadviceforstocks at 11:39 AM CDT | Post Comment | Permalink

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