Hello Friends! Thanks again for stopping by. I really do appreciate your visits and love when you drop me a line at bobsadviceforstocks@lycos.com . Helps me know you guys are out there!
I found another one...and this looks like a keeper! In what seems to be a similar business to Digene (DIGE) which is posted elsewhere on this BLOG, Cytyc Corporation (CYTC), according to the money.cnn.com snapshot "...designs, develops, manufactures and markets a sample preparation system for medical diagnostic applications." They appear to be involved in Pap Test for cervical cancer screening that requires a microscopic inspection of cervical cells. Anyway, CYTC is having a nice day today trading, as I write, at $14.89 up $.65 or 4.57% on the day.
I hope I don't sound like a broken record, or does anyone remember that expression anymore?, but CYTC jumped today after announcing a great fourth quarter 2003 earnings report. They reported, for the quarter ended December 31, 2003, that sales were a record $78.3 million, a 17% increase over the $66.7 million reported in the fourth quarter of 2002. Net income for the quarter was $19.5 million or $.17/share compared to $17.9 million or $.15/share in the same quarter in 2002.
Looking at the Morningstar.com 5-yr restated financials, we find that revenue has been growing steadily from $44.3 million in 1998, $81.1 million in 1999, $142.1 million in 2000, $221.0 million in 2001, $236.5 million in 2002, and $291.5 million in the trailing twelve months. Earnings/share have grown very steadily from $(.11) in 1998 to $.65/share in the trailing twelve months.
Free cash flow has also grown steadily from $15 million in 2000, $82 million in 2001, and $91 million in 2002, with $88 million reported in the trailing twelve months.
Gorgeous! is the only way I can describe their balance sheet...with $87.1 million in cash and $145.6 million in other current assets with $42.2 million in current liabilities and NO long-term liabilities reported on Morningstar.com. Now that is what I call a NICE balance sheet!
Looking at "key statistics" for CYTC on Yahoo.com, we find the market cap at $1.62 Billion. The trailing p/e isn't bad at all at 18.49 and the PEG is even fairly reasonable at 1.39. Price/sales on this one is a bit steep at 5.36.
There are 109.70 million shares outstanding with 108.70 million of them that float. There are 3.02 million shares out short representing 2.78% of the float or 3.118 trading days as of 1/8/04. No cash dividend is paid and the last stock dividend was a 3:1 split on 8/5/01 per Yahoo.
I actually like this stock a lot. They have great growth numbers, a reasonable p/e and PEG, and a beautiful balance sheet. Like a few others in the portfolio, this stock IS in the medical field, but I like it because of the numbers and not that they are involved in thin-film slides for Pap smears. This one may find a place in my portfolio soon...you know I am looking for #25 to fill out the trading portfolio!
Thanks again for stopping by. Please do your own due diligence and consult with your investment advisor before making any of your own investment decisions based on information on this website!
Regards to all!
Bob