Thanks for stopping by! I have another generic drug company to offer you today. I don't own any shares of this and haven't looked at this before....so here goes! By the way, the other companies on this site we have looked at include AAII, ELAB, and LCI. To this we add Pharmaceutical Resources (PRX).
PRX "...is a holding company which, through its subsidiary Par Pharmaceutical, Inc., manufactures and distributes a broad line of generic drugs.." per CNN.Money.
The stock is having a GREAT day trading at $52.83 up $2.27 on the day or 4.49%. (as reported in the NYTimes on the Web.
Last quarter's results were reported April 23, 2003, for the quarter ending March 30, 2003: total revenues increased 32% to $106.4 million compared to $80.5 million in 2002; net income and diluted earnings per share was $22.4 million and $.67 compared to $20.8 million and $.63 per share in the first quarter of 2002. (last year's quarter included a one time gain of $.09 or $2.9 million due to a legal settlement with BMY.
Looking at 5 year financials on Morningstar, we see revenue growth from $76 million in 1998, $80 million in 1999, $85 million in 2000, $271 million in 2001 and $382 million in 2002. Extrapolating the current first quarter 2003 out to all four quarters finds us anticipating in excess of $400 million for the year 2003.
Free cash flow, while not linear, is positive with a negative $6 million in 2000, to $69 million in 2001 and $25 million in 2002. Current cash reported at $65.1 million with $145.9 million other current assets dwarfing the liabilities of $74.7 million in current liabilities and $6.0 million of long term debt per Morningstar.com.
The company has a market cap of $1.69 Billion with 33.3 million shares outstanding and almost all float with 33.2 million shares reported as float. The p/e is a reasonable 20.75 per Yahoo...and there are only 1.48 million shares out short...representing only 2.01 trading days of shorts....a new thing I like to look at since it is reported right in Yahoo Profile!
This is another great generic drug company that is worth your while. I do not anticipate buying any shares right now since I already own AAII and ELAB...(see my trading portfolio on bobsadviceforstocks.tripod.com)....
Have a GREAT Wednesday....only two more days to the weekend! Thanks for stopping by and come back and visit often. Please feel free to drop me a line with any question, comment, or as I always like to read...words of encouragement at email@example.com.
Posted by bobsadviceforstocks at 11:11 AM CDT | Post Comment | Permalink