Stock Picks Bob's Advice
Sunday, 22 February 2004
February 22, 2004 "Definition of Market Cap"
Hello Friends! Just wanted to thank all of you for stopping by and visiting. Please feel free to browse through the many posts and if you have any questions, comment, or words of encouragement, please feel free to post them right on the BLOG or email me at firstname.lastname@example.org I will try to get some kind of response to you in a expeditious (nice word huh?) fashion.
Anyway, was browsing through the internet to see if I could get a good definition of market cap. On Ameritrade, they define "Small-cap" as less that $500 million market capitalization. "Mid-cap" is defined as being between $500 million and $3 billion, and "Large-cap" as being over $3 billion.
I think we will use under $100 million market cap as being "micro-cap".
Just a short comment tonight before we get underway in the market in the a.m. I am up early again...out walking at the local University...so will sign off and wish you all a great week in the market!
Regards to all!
Posted by bobsadviceforstocks at 10:50 PM CST
Updated: Sunday, 22 February 2004 10:55 PM CST
Saturday, 21 February 2004
"Seven Months Ago" A longer term view examining the selections of the week of July 28, 2003
Hello Friends! Thanks again for taking the time to stop by! I sure do appreciate when some of you take the time to comment on the BLOG by emailing me at email@example.com Helps me know you guys are really out there!
As always, please do your own due diligence on every stock and investment discussed here and discuss them with your investment advisor to find out what they think and whether the investment would be suitable for you prior to taking any actions.
I just finished posting the short-term, 7 week follow-up on this blog...and those numbers quite frankly were fairly mediocre. Let's see if I am doing a bit better longer-term...from 7 months ago, the week of July 28, 2003.
During that week I made nine selections. I will try to review them and see if there is anything new that suggests avoiding the issue or whether things are still on track.
On July 28, 2003, I posted Quality Systems
(and also purchased some of these shares both in my stock club and in my trading account) at $30.67. QSII closed on 2/20/03 at $49.30, for a nice gain of $19.36 or 63.1%
Looking for their latest earnings news, QSII announced fiscal 2004 third quarter results
on February 2, 2004. Net revenues were $18.2 million, a 26% increase from the $14.4 million last year. Net income was $2.6 million, a 35% increase over the $1.9 million the prior year. Fully diluted earnings per share in the quarter were $.40, a 33% increase over last year's $.30/share. This company appears to be doing just fine!
Coventry Health (CVH) was posted on Bob's Advice
on 7/29/03 at a price of $55.77. However, they split 3:2 on 2/2/04, so the split adjusted recommendation was at $37.18. CVH closed 2/20/04 at $41.45, for an effective gain of $4.27 or 11.5%.
CVH reported fourth quarter 2003 earnings
on 2/3/04. Revenue increased 29% to $1.22 billion from $946 million the prior year. They also reported net income of $69.7 million or $.76/share for the period vs $40.4 million, or $.45/share the prior year. These are very nice results! The stock was under some pressure after the announcement as forecasts, which were in line with expectations, still weren't quite as optimistic as some of its competitors. See Yahoo article
for more details on this.
Also on July 29, 2004, I posted CYH on the BLOG
at a price of $19.79. CYH closed on 2/20/04 at $26.99 for a gain of $7.20 or 36.4%.
Looking for the latest earnings report, I found the results of the third quarter that were announced on 10/23/03. The story
was posted on the CHS website: Net operating revenues were $723 million, a 30.8% increase over the $552.8 million reported last year. Net income increased 57.2% to $31.7 million or $.31/diluted share compared to $20.2 million or $.21/diluted share. The company appears to have its story intact.
On July 30, 2003, I posted CRL on Bob's Advice
at $35.60. Charles River Laboratories closed on 2/20/04 at $43.15 for a gain of $7.55 or 21.2%.
On 2/10/04, CRL posted fourth quarter 2003 results
. Net sales increased 9.2% to $156.0 million from $142.9 million the prior year. Net income for the fourth quarter of 2003 increased 17.9% to $20.6 million or $.42/diluted share up from $17.5 million or $.36/diluted share the prior year. This company is still doing just fine imho.
Guitar Center (GTRC) was posted on Bob's Advice
on 7/30/03 at $33.26. GTRC closed on 2/20/04 at $34.99, for a gain of $1.73 or 5.2%.
Looking for the latest quarterly report, Yahoo posted GTRC's 4th quarter results
on 1/29/04. Sales grew to $395.8 million vs $334.8 million the prior year. Net income grew 47% to $19.7 million or $.78/diluted share from $13.4 million, or $.57/diluted share the prior year. This company appears to be on track!
On July 31, 2003, I posted Chico's FAS on the blog
at a price of $27.22. CHS has done quite well since that post (too bad I don't own any shares)...and closed on 2/20/04 at $42.27 for a gain of $15.05 or 55.3%.
CHS reported a great third quarter 2003 results
on 12/2/03. They earned $26.8 million or $.30/share on $210.57 million in sales compared to year earlier sales of $137.26 million with earnings of $15.5 million or $.18/share the prior year. This company is doing GREAT!
On July 31, 2003, I posted ManTech on Bob's Advice
at a price of $24.86. MANT closed on 2/20/04 at $21.06, for a loss of $(3.80) or (15.3)%. (You KNOW I don't bat even close to 1.000!)
MANT reported 3rd quarter earnings results
on 10/29/03. Revenue for the 3rd quarter 2003 grew 39% to $181.6 million, operating income increased 48% to $16.2 million, and fully diluted EPS grew 21% to $.29. At least for the latest quarter results, MANT appears to be on track.
United Online (UNTD) was posted on this blog
on 8/1/03 at $33.64. This pick has performed MISERABLY and closed 2/20/04 at $16.75 for a loss of $(16.89) or (50.2)%.
On February 4, 2004, UNTD reported their 4th quarter 2003 results
. Total revenues were $96.9 million, an increase of 47% vs. $65.8 million the prior year. Adjusted net income for the quarter, excluding a one-time tax benefit, was $14.5 million, or $.21/share, a 65% increase from last year's $8.8 million or $.13/share. The company certainly appears to be doing just fine...but the stock price, alas, that is a DIFFERENT story!
Hang in there, just ONE more stock to report!
Finally, Alliance Data Systems (ADS) was posted on this BLOG
on August 1, 2003 at a price of $28.45. ADS closed on 2/20/04 at $29.25, for a gain of $.80 or 2.8%.
Looking for the latest earnings on ADS, they posted 4th quarter 2003 results
on 1/28/04. Revenue increased 27% to $298.3 million vs. $235.7 million for the fourth quarter of 2002. Net income increased 96% to $19.8 million for the quarter in 2003, or $.24/diluted share, vs $10.1 million or $.13/diluted share in 2002. These are great results in my humble opinion.
In summary, (FINALLY!), the nine stocks had seven that gained and two that lost money after being selected for an average gain of 14.4%. Overall, not too shabby and much better than our most recent seven week selection review. (see prior post.)
Thanks again for stopping by and bearing with me as I reviewed some of my past picks. If you have any questions, comments, or words of encouragement...please email me at firstname.lastname@example.org
Happy Saturday everyone!
"How are we doing?" A look back on the week of December 15, 2003
Hello Friends! It is absolutely a warm-spell here in Wisconsin....I mean the temperature is at least 38 degrees F and the snow is melting everywhere! Short sleeves weather without a doubt!
It is Saturday and one of the pieces of housekeeping that I like to do is to look back both short-term and relatively long-term to see how my stock picks are doing. This week I am up to the week of December 15, 2003, almost exactly two months ago. During that week, I picked four stocks: Advanced Digital Information (ADIC), iPass (IPAS), Overland Storage (OVRL), and Digene Corp (DIGE).
ADIC was posted here
when the stock was trading at $13.96. ADIC closed on 2/20/04 at $12.88 for a loss of $(1.08) or (7.7)%.
iPass was also posted on Bob's Advice
on 12/16/03 when it was trading at $16.47. IPAS closed 2/20/04 at $13.08, for a loss of $(3.39) or (20.6)%.
Third, Overland Storage (OVRL) was posted here
at the price of $17.889. OVRL closed on 2/20/04 at $18.07 for a gain of $.181 or 1%.
Finally, Digene Corp (DIGE) was posted on this blog
on 12/17/03 at a price of $37.99. DIGE closed on 2/20/04 at $37.95 for a loss of $(.04) or (0.1)%.
Averaging these four stocks, we have an average loss of (6.85)%. Pretty mediocre, but that is the cost over the short run of these quickly growing issue...at least THAT is my rationale! :)
February 21, 2004 UniFirst Corp (UNF)
Hello Friends! Thanks so much for stopping by. It is WAY too late to be up typing away at my computer posting another entry on my BLOG...but has that ever stopped me before? As ALWAYS, please remember to do your own due diligence on all of the stocks discussed on this website...and quite frankly on ALL websites...and use your financial advisor as frequently as you need!
Anyhow, before I fall asleep at the keyboard, I wanted to post one stock from yesterday...yikes it is past midnight...a stock that performed well and looks interesting from my perspective. UniFirst Corp (UNF) closed at $26.83 on the day, up $.71 or 2.72%. That was enough (!) to make the list of best gainers. I do not own any shares of UNF.
According to the money.cnn.com "snapshot"
, UNF "...is a provider of workplace uniforms and protective clothing. UNF rents, manufactures and sells a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, jumpsuits, lab coats, smocks and aprons."
On January 12, 2004, UNF announced first quarter 2004 earnings results
for the quarter ended November 29, 2003. Revenues for the latest quarter were $180.9 million, a 21.3% increase from the $149.2 million in the prior year. (The news story noted that acquisitions accounted for 16.3% of the revenue growth.) Net income increased 48.3% from $6.4 million or $.33/share in 2003 to $9.5 million or $.50/share in 2004.
If we check "5-Yr Restated" Financials
on Morningstar.com, we see a beautiful, steady growth in revenue from $487 million in 1999, $529 million in 2000, $556 million in 2001, $579 million in 2002, and $597 million in 2003 with $629 million in the trailing twelve months.
Earnings per share dipped slightly in 2000 from $1.18 in 1999 to $1.01 in 2000, then have increased steadily from $1.20 in 2000 to $1.56 in the trailing twelve months.
Free cash flow has been positive if a bit erratic from $42 million in 2001, $19 million in 2002, $23 million in 2003 and $28 million in the trailing twelve months.
The balance sheet is o.k. with $8.0 million in cash and $184.1 million in other current assets vs. $112.8 million in current liabilities and $271.7 million in long-term debt.
Checking the "Key Statistics" on Yahoo.com
, we see that the market cap is $514.76 million. The trailing p/e is reasonable at 17.11, with a forward p/e (fye 30-Aug-05) at 15.16. TDhe PEG is nice at 1.14, and price/sales downright cheap at 0.80. Whenever the price/sales or PEG hits 1.0 or less, it appears to me that the stock is "reasonably" priced.
UNF has 19.19 million shares outstanding with 16.10 million of them that float. There are only 47,000 shares out short, representing 0.29% of the float or 1.175 trading days.
The stock DOES pay a small annual dividend of $.15 yielding 0.57%. The last stock split was a 2:1 split as of 1/20/04.
Looking a little at the 'technical' aspects of this issue, I like to check the free point and figure chart on UNF
. Without claiming to be a technician, this stock broke down breaking through a support level in early 2003, and since that time has been heading higher quite consistently.
As you know, I have promised NOT to buy any additional stocks until I sell something at a gain! Therefore, I will hold off adding to my portfolio which is now down to 22 positions...otherwise, I find this stock intriguing, both on a valuation basis as well as the growth record.
Thanks so much for stopping by! As always, if you have any questions, comments or words of encouragement, please feel free to email me at email@example.com!
Friday, 20 February 2004
"Reader Request" Flextronics (FLEX)
Hello Friends! Derek G. wrote in and asked me to take a look at Flextronics (FLEX). I let him know that I would do it in the BLOG....so Derek here it is! By the way, I do not own any shares of this stock.
First of all, I make my picks starting with stocks that are having good daily momentum. At this point FLEX doesn't fit the bill...but we can still take a loot. As I am writing this, FLEX is trading at $18.38, down $(.39) or (2.08)% on the day.
Looking at the latest quarterly results, the best story I could find was posted on the Flextronics website
, under news, they related for the quarter ended December 31, 2003, (FLEX 3rd quarter), net sales were $4.15 billion, a 7.8% increase over the prior year's sales. Net income was $93.9 million, or $.17/share, a 41.9% increase from the prior year's net income.
If we look at the "5-Yr Restated" financials on Morningstar.com
, we can see that revenue grew quickly between 1999 and 2001, increasing from $4.0 billion/yr to $12.1 billion. However, although growth in revenue has continued since that time, it has done so at a much slower rate increasing from $12.1 billion in 2001 to $13.5 billion in the trailing twelve months.
Earnings turned negative in 2001, when they were at $(1.01) and have stayed negative per Morningstar, totalling $(.72) in the trailing twelve months. It appears that with the recent reports, they are not losing money (?).
Free cash flow which was NEGATIVE 1 BILLION $'s in 2001, improved to $529 million in 2002, but subsequently has been dropping with $399 million in 2003 and $283 million in the trailing twelve months.
FLEX has $699.5 million in cash and $3.5 billion in other current assets, however they also have $3.1 billion in current liabilities and also $1.6 billion in long-term liabilities. It appears that the current assets including cash are adequate to cover the huge current liabilities...and indeed with positive cash flow this may also be improving...but this is not the prettiest balance sheet I have come across.
If we look at "Key Statistics" on Yahoo
, we see that the market cap is large at $9.79 billion, the p/e ratio is 28.91 (forward fye 31-Mar-05), with a PEG at 1.42...so the valuation, while not inexpensive, is not overly highly priced. Price/sales is particularly nice at 0.72.
There are 529.17 million shares outstanding, with 435.60 million shares that float. Currently there are 18.33 million shares out short representing 2.727 trading days or 4.21% of the float. No cash dividend is paid, and the last stock dividend was a 2:1 split in October, 2000.
Taking a look at the 'technicals', we can see from a Stockcharts.com point and figure chart on Flextronics
that this stock broke through a resistance level in early 2003 and for the last 14 months has been moving upward in a regular fashion. The momentum pricewise looks nice.
So Derek, what do I think? This may indeed be a terrific investment insofar as the technicals and the recent earnings report. I am a bit concerned over the debt load, the relatively poor record of losses, the decreasing free cash flow, and the fact that the stock is not really a terrific value. That does NOT mean that it isn't a good investment, it just means that when I look at this investment through MY 'tinted glasses' that are biased towards my idiosyncratic methods, it just isn't the best investment on my investment horizon. On the other hand, it isn't that bad either!
I hope that is helpful to you. Please let me know if you have any other questions, comments, or words of encouragement!
Posted by bobsadviceforstocks at 2:03 PM CST
Updated: Friday, 20 February 2004 2:06 PM CST
"Trading Transparency" ISNS and WBSN
The NASDAQ correction continues. Thank goodness I didn't spend that nickel in my pocket to buy my position #25. Because now, I have hit an 11% loss with my WBSN and an 8.5% loss on ISNS and have just sold my 200 WBSN and 300 ISNS...and will sit again on my hands....with that nickel burning hotter than ever in my pocket...waiting until I have a sale for a profit at my price goals...and then start buying positions back. Thanks so much for stopping by and visiting here. I try real hard to let you know both about what stocks look interesting in general as well as a virtual look at my trading activity.
If you have any comments, questions, or my favorite....words of encouragement (!)...please drop me a line at firstname.lastname@example.org
Thursday, 19 February 2004
February 19, 2004 OmniVision Technologies (OVTI)
Hello Friends! Thanks so much for stopping by. Had a real busy day and did not get to my blog until NOW. It is 2/19/04 as I write...but may be 2/20 by the time I get this published! As always, please do your own due diligence on everything I write about and consult often with your own financial advisors to make sure that anything on this website or blog is appropriate and timely for you!
O.K. that being said, OmniVision Technologies (OVTI) hit the lists today. They closed at $29.45, up $3.82 or 14.90% on the day in the face of a lousy day for the NASDAQ...which was down about 30 points to 2045 and change. According to money.cnn.com "snapshot"
, OVTI "...designs, develops and markets semiconductor imaging devices for computing, communications and consumer electronics applications, used to capture an image in cameras and personal computer cameras." I do not currently own any shares of this stock.
What drove this stock higher this morning was a GREAT third quarter earnings report
which was released 'after the bell' yesterday. Revenue for the quarter TRIPLED to $94.5 million from $30.5 million the prior year. Earnings per share, adjusted for a 2:1 split 2/17 rose to $.28/share from $.09/share. In addition, if all of that FABULOUS news wasn't enough, the company projected earnings and revenue for the current quarter "well ahead of Thomson First Call projections."
Looking at Morningstar.com's "5-Yr Restated" financials
, we find that revenue has grown from $5 million to $185 million between 1999 and the trailing twelve months. The company DID have a down year in 2002 but has not looked back since. Earnings/share have improved from a loss of $(0.03)/share in 2002 to $.52/share in the trailing twelve months.
Free cash flow has improved from $(20) million in 2001 to $13 million in the trailing twelve months. On top of this the balance sheet as presented on Morningstar.com, looks SUPERB with $173.8 million in CASH, way more than enough to cover all of the $55.3 million in current liabilities and NO long-term liabilities are even reported. In ADDITION, OVTI has $89.7 million in other current assets per Morningstar.com. IMHO this balance sheet is a thing of beauty!
Looking at "key statistics" on Yahoo
, we find that the market cap is a mid-cap $1.60 Billion. The trailing p/e isn't cheap at 41.60, but with the RAPID growth estimated, the forward p/e, for fye 30-Apr-05 is only 15.03. Thus, the PEG is GREAT at 0.89, although price/sales a bit rich at 5.58.
Yahoo reportes 54.28 million shares outstanding with 51.60 million of them that float. There are 7.08 million shares out SHORT representing 13.72% of the float as of 1/8/04. This would take 2.44 trading days to cover. Shorts are getting covered as the prior month, Yahoo reports that there were 7.85 million shares out short.
No cash dividend is paid, and a stock dividend is JUST reported as of 17-FEB-04, with ex-dividend date YESTERDAY at 18-Feb-04.
Looking at the technical picture, we can see with a point and figure chart from Stockcharts.com
, that OVTI broke out of its resistance level in late 2002 and has never looked back!
I like this stock a lot. If I WERE in the market to buy a stock I probably would be biting at this one...but you know the old story, I have LOTS of margin, 24 positions, and promised ME and all of you readers that I would NOT buy anything, I repeat, NOT buy anything at least until I sold something for a profit. SHUCKS. Anyway, I hope you enjoyed my look at this stock. I really have to get to sleep and get up early for a walk...so signing off to all of you sports fans!
Wednesday, 18 February 2004
February 18, 2004 Marine Products (MPX)
Hello Friends! Thanks so much for stopping by! Please feel free to make yourself at home and explore the full range of posts on this BLOG. If you wish to view prior posts, you can just click on the calendar at the lift and even change months by clicking....as always, please remember to do your own due diligence (check out the information yourself in lay terms!)...and utilize your own investment advisor to make sure the investments we discuss are appropriate and timely for you!
I have that nickel burning a hole in my pocket...but it is staying there for awhile. If you have been reading my posts, you will know that what I mean is that in my Trading Portfolio
I am down to 24 positions...and quite frankly there is a good chance that ISNS will hit an 8% stop...and then I will have 23. I am waiting for a partial sale of one of my other holdings on a gain...as you may know, I set targets of about 33%, 66%, 99%, 120%, 180%...before I sell 25% of a holding. And I am using this sale as confirmation that the market is healthy...hopefully, by holding off, I will continue to add to my cash...or at least reduce my margin...as the market corrects. That is the theory at least.
ANYWAY, where was I?...yes I was going to say something about Marine Products Corp. (MPX), an AMEX issue that had a nice day trading in an otherwise lackluster market. This is ironic, I do NOT own any shares of this or any other boating company, but this is the SECOND stock involved in boating to be posted on this blog. Do you think something is "afloat?"
MPX closed at $20/share, up $.65 or 3.36% on the AMEX. That small move qualified it for one of the top gainers on the American Stock Exchange! According to money.cnn.com "snapshot"
, MPX "...design, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat and cruiser markets." Maybe those tax cuts from the Bush Administration to the upper-income group is helping them get out and buy a boat! I mean SERIOUSLY....:)
What drove the stock higher today, was the fourth quarter earnings report
which was released yesterday morning. Also, they announced a 50% stock dividend (3:2), with a 50% increase in the cash dividend! Now that's a nice piece of news!
According to the report, net sales for the quarter ended December 31, 2003, were up 32.0% to $47 million from $35.6 million the prior year, the highest net sales for any quarter in this company's history. Gross profit was $13.1 million, a 44.4% increase over the same period in 2002. Net income for the quarter was $4.4 million, a 51.1% increase compared to $2.95 million the prior year. On a per share basis, diluted earnings per share were $.25 ($.17 adjusted for the 3:2 split announced 1/27/04) vs $.16 ($.11 adjusted for the split). Things were really firing on all "boat engine cylinders"...groan.
Checking the Morningstar.com "5-Yr Restated" financials
we find that revenue has grown from $103.5 million in 1998, almost perfectly steadily (except for a slight dip in 2001), to $179.2 million in the trailing twelve months.
Earnings per share are only listed since 2002 when they were $.69 (probably the year this company went public)...and improved to $.86 in the trailing twelve months.
Free cash flow has been positive but slightly erratic, ranging from $11 million in 2000, $5 million in 2001, $8 million in 2002, and $7 million in trailing twelve months. While growing free cash flow is always my preference, the fact that it is consistently positive and fairly consistent is reassuring.
The balance sheet for this company, as reported by Morningstar is impeccable. They have $23.3 million in cash alone, more than enough to cover both the current liabilities of $14.7 million and the long-term liabilities of $2.2 million. In addition, they have $28.1 million in other current assets.
If we look at "key Statistics" on Yahoo.com
for MPX, we find that the market cap is a small $343.02 million. The trailing p/e is nice at 19.76. The forward p/e (fye 31 Dec 04) is even nicer at 15.38. And get this, the PEG is 0.84. Price/sales pretty nice at 1.71. But the PEG is the PEG of my heart (YUCK).
Yahoo reports 17.15 million shares outstanding with 6.10 million shares that float. Currently, there are a grand total, as of 1/8/04, of 19,000 shares out short, which represents only 0.31% of the float, but due to the thin trading volume of this stock, still is a short ratio of 2.111.
As an added bonus, the company pays a small dividend of $.24/share (which is being raised) yielding 1.24%.
A stock dividend was recently declared on 1/27/04.
I do like this stock a lot. I do not have any cash to buy a position but would be thinking about it if I were ready to buy something. The valuation is nice, the company even pays a dividend, recently reported OUTSTANDING financial results, and is spinnning off free cash while having enough cash to pay of all of its liaibilities and still have more current assets left over.
Thanks again for stopping by. If you have any questions, comments, or words of encouragement, please feel free to post them right here or email me at email@example.com
Tuesday, 17 February 2004
February 17, 2004 MarineMax (HZO)
Hello Friends! It is late Tuesday evening and I was watching the election returns from Wisconsin. It looks like Kerry wins again...Edwards hangs in there but loses another state...sounds more like a boxing match than an election...but I guess that is the point. Anyhow, wanted to scan the lists to see if anything looks worthwhile. Here is a boat retailer for you to consider. I do not own any shares of this stock.
MarineMax (HZO) had a nice day today, closing at $26.52 on the day, up $3.72 or 16.32%. Nice is putting it nicely! According to the money.cnn.com "snapshot"
, MarineMax "...is a recreational boat dealer that, through its 66 retail locations in 15 states, sells new and used boats and related marine products including engines, trailers, parts and accessories."
Just a few weeks ago, HZO reported excellent first quarter 2004 results
. For the quarter, MarineMax reported a 60% revenue increase to $156.7 million from $98.0 million. More importantly, get this, same store revenues grew 56% (!!!) compared to an 18% decrease in the year ago quarter. Net income was $2.2 million or $.14/diluted share an increase of $.17 compared to the net loss of $480,000, or $(0.03)/diluted share the prior year.
If we look at the "5-Yr Restated" financials
on Morningstar.com, we can see that sales growth for HZO has been fairly steady, increasing from $450 million in 1999 to $608 million in the trailing twelve months. Earnings per share have actually pretty much gone nowhere during this period ranging from $1.21/share in 1999 to $1.26/share in the trailing twelve months. Frankly, I would much rather see a trend of growing earnings along with the steady increase in revenue.
Free cash flow has been improving recently from $1 million in 2001, $(3) million in 2002 to $18 million in 2003. The balance sheet is balanced in favor of assets with $10.5 million in cash and $192.8 million in other current assets compared to $136.3 million in current liabilities and $26.8 million in long-term liabilities.
Looking at "Key Statistics" on Yahoo
for MarineMax, we find that the market cap is a small $409.95 million. The trailing p/e isn't bad at 18.80, with a forward p/e from fye 5/05, at 16.17. The PEG is a little rich at 1.56 and price/sales cheap at 0.53.
There are 15.46 million shares outstanding with 8.50 million of them that float. As of 1/8/04, Yahoo reports only 81,000 shares out short with a short ratio (number of trading days to cover) at 1.174. No dividend is paid, and Yahoo does not report any stock splits in the recent past history of the company.
Looking at a Point and Figure chart from stockcharts.com
, we find a graph that appears to be trading steadily higher with no evidence of any weakness at least since breaking out in early 2002.
Overall, this is an interesting pick. It has a nice history of revenue growth, fairly reasonable p/e and PEG, as well as price/sales ratios. In addition, they have recently reported a 50%+ same store sales growth figure so they must be going like 'gangbusters'. The graph looks nice, and if the recovery continues, boating and recreational companies are sure to benefit imho.
As always, please consult with your own investment advisors and do your own due diligence. 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 firstname.lastname@example.org
Sunday, 15 February 2004
"Seven Months Ago" A longer term view examining the selections of the week of July 21, 2003
Hello Friends! I am sure glad you chose to stop by here....by all means make yourself at home! Explore the website, the picks, and feel free to let me know what you think. You can reach me at email@example.com Remember to always do your own 'due diligence' before making any decisions based on information on this website and that you consult with your own investment advisors!
In order to help me assess the usefulness of the methods I employ, I like to post my ideas on the website, purchase some of them myself (see my current trading account
), and then follow-up, by reviewing past selections. That is what I call my 'housekeeping' or 'homework' for the weekend. Today, moving a week ahead of last week's review, I will take a look at the week of July 21, 2003. By that time, this website was up almost three months, and I was definitely getting a system together. This was a busy week for selections, with 10 picks posted here.
On July 21, 2003, I posted Simpson Manufacturing
(SSD) at a price of $40.75. Simpson closed on 2/13/04 at $46.07, for a gain of $5.32 or 13.1%. Looking at the news on this stock, SSD announced their 2003 fourth quarter results
on January 27, 2004. Fourth quarter net sales were up 22.7% to $133.4 million and net income increased 25.5% to $13.3 million. On a per share diluted basis this was $.53 vs $.43/share the prior year. SSD is doing just fine!
The next stock, DSP Group (DSPG) was posted on Bob's Advice
at a price of $25.23 on 7/21/03. DSPG closed on 2/13/04 at $26.01 for a gain of $.78 or 3.1%. Looking at the earnings news on Yahoo.com, I found their fourth quarter 2003 earnings report
. This was reported on 1/27/04, revenue came in at $38.1 million, a 36% increase over the $28.7 million the prior year. Net income for the quarter was $6.0 million, a 65% incrrease from the $3.6 million the prior year. DSPG is doing great!
IDEXX Laboratories (IDXX) was posted on Bob's Advice
on 7/21/03 at a price of $38.29. IDXX closed 2/13/04 at $50.66. This was a gain of $12.37 from the selection price or 32.3%. This was a great performance and looking for the news on this company, we found the fourth quarter 2003 results
which were released on 1/26/04. Revenue was up 18% to $124.8 million, however an after-tax charge of $4.5 million in connection with the "extension of its collaboration with Ortho-Clinical Diagnostics, Inc. (OCD), a subsidiary of Johnson & Johnson", led to a decrease in earnings by 3% to $12.4 million. Excluding this charge, earnings were $.46/share, an increase of 28% over the same quarter in 2002. I guess the street shrugged off this charge...so everything appears to be intact!
On July 22, 2003, I posted Cognizant Technology on Bob's Advice
at a price of $30.22/share. CTSH closed 2/13/04 at $50.13, for a great gain of $19.91/share or 65.9% (!)(too bad I didn't buy any shares :(). Looking for latest earnings, CTSH reported fourth quarter 2003 results
on February 10, 2004. Quarterly revenue increased to $108.2 million, a 61% from the prior year. Diluted earnings/share were $.25/share, up from $.14/share the prior year. This company is doing great! In fact, on the same day CTSH announced increased 2004 expectations
. Things appear to be humming along just fine with CTSH.
Vital Images (VTAL) was posted on Bob's Advice
on July 22, 2003, at $21.66. VTAL is the one stock that I DID own some shares but no longer own any...and has been a big disappointment price-wise closing at $11.10 on 2/13/04 for a loss of $(10.56) or (48.8)%. On February 11, 2004, VTAL announced their Fourth Quarter 2003 financial results
: revenue was $5.2 million for the quarter DOWN from $6.2 million th eprior year. Net income was $7,000 or $0.00/share (including a net tax benefit of $.06/share!), compared to $416,000 or $.04/diluted share in 2002. This company does not fulfill requirements of growing revenue/earnings to be recommended on this website!
(Hang in there....we are half way through our review!)
QLT (QLTI) was posted on Bob's Advice
on 7/23/03 at a price of $15.39. This maker of Visudyne, a macular degeneration treatment, closed at $23.26 on 2/13/04. This was a gain of $7.87 or 51.1%. On February 11, 2004, QLTI announced their fourth quarter 2003 earnings results
. Revenues for the fourth quarter were up 21% to $38.4 million. Net income in the quarter was $9 million or $.13/share vs a loss of $(825,000) or $(.01)/share the prior year. Everything looks good at QLTI imho.
The outdoor clothing company, Columbia Sportswear (COLM) was posted on Bob's Advice
on July 24, 2003, at a price of $52.00. COLM closed on 2/13/04 at $53.30, for a gain of $1.30 or 2.5%. On January 29, 2004, COLM reported fourth quarter 2003 results
. Sales, adjusting for currency exchange rates, increased 13.1%. Net income increased for the quarter by 10.5% to $32.2 million or $.79/share compared to $.72/share last year. Columbia appears to be doing just fine.
Sierra Health Services (SIE) was posted on Bob's Advice
on July 24, 2003, at a price of $27.09. SIE closed on 2/13/04 at $32.51, for a gain of $5.42 or 20%. On January 28, 2004, SIE reported their fourth quarter 2003 results
. For the quarter, net income rose to $4.8 million or $.16/share vs a year ago profit of $4.5 million or $.14/share. Revenue for the quarter rose 14% to $373.4 million from $326.9 million a year ago. This company appears to be on track.
On July 24, 2003, I posted Fair Isaac (FIC) on Bob's Advice
at $55.42/share. FIC closed 2/13/04 at $61.56, for a gain of $5.14/share or 9.3%. On January 26, 2004, FIC reported first quarter 2004 earnings
: revenue for the quarter increased to $169 million from $146 million the prior year or $.59/share vs $.38/share the prior year. This stock appears to doing fine!
Finally, on July 26, 2003, I posted Zoran (ZRAN) on Bob's Advice
at a price of $27.28. I bought some ZRAN and sold them shortly after that at a loss!...ZRAN closed on 2/13/04 at $16.11 for a loss of $(12.17) or (44.6)%. On February 2, 2004, ZRAN announced delays in reporting their fourth quarter and 2003 results "...pending conclusion of the Company's 2003 audit procedures." This was not the first delay in this company's earnings results and this is not encouraging (imho). This would not qualify for a recommendation on this site.
How did we do? We had 8/10 stocks with gains ranging from 2.5% to 65.9% and two losers with sharp losses of (48.8)% and (44.6)%. Averaging the performance, gets us an average gain of 10.39%. Not too bad for seven months....
Thanks again for stopping by! If you have any questions, comments, or words of encouragement, please feel free to email me at firstname.lastname@example.org
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