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Wednesday, 2 July 2003
July 2, 2003 Metrologic Instruments Inc. (MTLG)
O.k., I confess, I thought this was some kind of weather instrument company! So I didn't read it to closely....I at least knew that Meteorology was something about weather...isn't it?

Metrologic (MTLG), however, is, according to NYTimes.com, "...a leading manufacturer of sophisticated imaging systems using laser, holographic, camera and vision based technologies, high speed automated data capture solutions and bar code scanners."

MTLG is having a great day today...I don't think it is on our list (lol the list is getting LONG), but I have come across this before....but do not own any shares right now. I might just look to purchase some though...

The stock is currently trading at $35.60 up $3.14 on the day or 9.67% on news that it excpects to exceed earnings forecasts.

Last quarter which ended March 31, 2003, was reported on NYTimes on the web: sales increased 17% to $32.3 million from $27.5 million in 2002. Net income was $1.9 million or $.33/diluted share (excluding a one time gain of $2.2 million)...compared to net income of $0.2 million or $0.00/share for the same period last year.

Morningstar.com shows great sequential growth in revenue from $53.5 million in 1997, $66 million in 1998, $80 million in 1999, $92 million in 2000, $114 million in 2001, and $117 million in 2002. The current quarter extrapolated forward (if you bear with me) would result in an anticipated revenue result of $128 million in 2003.

Free cash flow, as reported on Morningstar has improved from a NEGATIVE $20 million to POSITIVE $13 million in 2001, $18 million in 2002, and $22 million in the trailing twelve months (TTM as they like to say!).

Morningstar shows little 'cash' on hand of $0.9 million but there apparently is $35.7 million in other current assets compared to $23.2 million in current liabilities and $14.8 million in Long-term liabilities. Overall not too bad a picture here.

I like this stock a lot. The company trades at a p/e of 33.12, with a very small market cap of $195.7 million. There are only 5.49 Million shares outstanding and only 2.00 million of those float.

So expect a lot of volatility. It has already had a BIG run from $10 to current lofty heights and may correct before moving on....but I am not a technician. I like the earnings and revenue growth and the fact that they are RAISING expectations today.

Have a GREAT Wednesday and stop by again. Please sign in if you get a chance on the homepage: bobsadviceforstocks@tripod.com and be sure to email me if you have any comments, questions, or words of encouragement! bobsadviceforstocks@lycos.com

As always,

Bob


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

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