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Monday, 4 August 2003
August 4, 2003 Mylan Laboratories (MYL)
Another down day for the market! In the midst of this, Mylan shows up on our list. According to CNN.Money, MYL "...is engaged in the development, licensing, manufacturing and marketing of generic and proprietary finished pharmaceutical products." Sounds a little like LCI, and ELAB, which are some of our other stock picks that manufacture generics.

I do not own any shares of MYL nor does anyone in my family.

MYL is having a nice day in the market trading currently at $34.50 up $.95 or 2.83% on the day.

On July 23, 2003, MYL reported their first quarter results for the period ending June 30, 2003. During this period, net revenues increased 20% to $331.4 million from $275.5 million in 2002. Net earnings for the quarter increased 36% to $83.9 million from $61.8 million in the same period last year. On a per share basis, diluted earnings per share were $.46 vs. $.32 last year, an increase of 44%. However, first quarter results included gains on legal settlements amounting to $.08 of the $.12 increase from last year.

Morningstar.com shows a steady growth in revenue: $0.6 billion in 1998, $0.7 billion in 1999, $0.79 billion in 2000, $.84 billion in 2001, $1.1 billion in 2002.

Free cash flow has recently been outstanding with $89 million in 2000, dropping to $41 million in 2001, but increasing to $326 million in 2002. Morningstar reports that the trailing twelve months free cash flow has been $266 million.

The Balance Sheet on Morningstar look excellent: Cash on hand is reported at $708 million, way more than current liabilities of $262.7 million and $39.2 million in long-term liabilities combined. In addition, MYL has $517.3 million in other current assets.

Mylan has a sizeable market cap of $6 billion with 179.0 million shares outstanding and 170.3 million of those that float. The company DOES pay a small dividend yielding 0.40% ($.13/share) and trades at a reasonable p/e of 21.23. There are 2 million shares out short but due to the average trading volume of 1.46 million, this represents only 1.36 trading days.

This is a very nice stock to look at for consideration for investment. Thanks for stopping by and visiting...please feel to leave comments here or email me at bobsadviceforstocks@lycos.com if you have any questions, comments, or what I love, words of encouragement!

Bob


Posted by bobsadviceforstocks at 10:56 AM CDT | Post Comment | Permalink

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