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Monday, 6 October 2003
October 6, 2003 Fargo Electronics, Inc. (FRGO)
TGIM. Oh well...maybe I can start a new expression...anyhow, came across this one this morning and it looks pretty nice. See what you think...Fargo Electronics, Inc. (FRGO)...no it is not based in Fargo, North Dakota...but in Eden Prairie, Minnesota....is having a nice move today trading at $14.82, as I write, up $1.41 or 10.52%.

According to money.cnn.com, FRGO "...develops, manufactures, and supplies desktop systems that personalize plastic identification cards." I do not own any shares of this stock but if I had some cash, wouldn't be averse to buying a few shares.

On July 22, 2003, according to Business Wire, as reported on NYTimes.com, Fargo reported their secord quarter results for the quarter ended June 30, 2003. Net sales were $16.5 million, an increase of 12% over $14.7 million reported in the same period last year. Net income was $1.77 million or $.14 per diluted share compared to $1.2 million or $.10 per diluted share last year.

Morningstar.com shows a steady growth in revenue from $48 million in 1998, $55 million in 1999, $58 million in 2000, $61 million in 2001 and $66 million in 2002. The company turned profitable during that period from losses of ($65) million in 1999, to profits of $3 million, $4 million, $7 million in 2000, 2001, 2002 respectively.

Free cash flow while not consistent has been positive with $3 million reported in 2000, $11 million in 2001, $9 million in 2002, and $10 million in the trailing twelve months.

The balance sheet is quite clean with $4.0 million in cash and $17.3 million in other current assets vs. $6.6 million in current liabilities and NO long-term liabilities at all.

This is a small company with a market cap of $184.37 million. The trailing p/e is very reasonable at 20.95, the PEG ratio isn't bad at 1.27, and the price/sales is at 2.44. Yahoo.com further reports that there are 12.41 million shares outstanding and only 6.70 million of them that float. There are only 198,000 shares out short...but due to low trading volume, this represents 3.046 trading days.

This is a nice, financially healthy and growing growth type stock. I am not real familiar with their business product, but I am sure that identification badges are becoming more common in the workplace.

Thanks again for stopping by and if you have any questions, comments, or words of encouragement, please feel free to drop me a line at bobsadviceforstocks@lycos.com

Bob


Posted by bobsadviceforstocks at 9:17 AM CDT | Post Comment | Permalink

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