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Monday, 11 August 2003
August 11, 2003 Possis Medical, Inc. (POSS)
Market is still trading sloppy today. Currently NASDAQ is up while DOW is down. Was the opposite way most of last week. Anyhow, here is a stock that I do own some shares (or did the last time I checked) in a managed account...

Possis Medical "...is a developer, manufacturer and marketer of medical devices." The stock is currently trading at $17.33, up $1.65 or 10.52%.

On May 13, 2003, POSS reported last quarter earnings of $.10 vs $.09 last year on a fully diluted basis.
Sales were at $14.6 million, up 36% from last year.
Most likely, stock is moving up (?) because we are approaching the 3 month period from last year...and thus new earnings.

Morningstar.com shows steady growth since 1998 of this small company with revenue of $6.1 million in 1998, $13.2 million in 1999, $20.6 million in 2000, $30 million in 2001, $42 million in 2002 and extrapolating the current quarter would get us just shy of $60 million for 2003.

Free cash flow has steadily improved the last few years from ($11) million in 2000 to ($4) million in 2001, $6 million in 2002 and $10 million in the trailing twelve months.

The Statement on Assets & Liabilities as reported in summary on Morningstar.com looks excellent. POSS has $30.1 million of cash on hand, more than enough to cover the current liabilities of $5.8 million and there are NO long-term liabilities reported.

This small company has a market cap of $279.1 million with 17.8 million shares outstanding and 17.5 million of those that float. No dividend is paid. There are 604,000 shares out short as of 7/8/03, representing 2.46 days of trading volume.

I like this stock a lot...there is one cautionary note...on 2/12/03 they were warning about possible earnings shortfall in the third quarter. (This was the quarter reported in May, 2003.) We are now in the fourth quarter of their fiscal year and I see no reason to believe that they will have anything but a good quarter....but we should know soon.

Thanks for stopping by! Bob


Posted by bobsadviceforstocks at 12:11 PM CDT | Post Comment | Permalink

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