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$ISEE!! Had this before change....action! Looks like Benzinga NEWS.
Why director Ross Harvey keeps buying like there's no tomorrow?
Does he buy directly from public?
Alex only two ways it will go. It needs to show stronger profits and it must limit the dilution that has been taking place. It will move it better earnings or if someone makes an offer to buyout the company which could also happen. A lot of consolidation going on in the optical business. No doubt director Harvey Ross likes it alot as he keeps buying so i will keep an eye on it.
Kifik
is this one ready to go?
looks like ISEE stabilized for now, any thoughts on the insider buying?
While I would agree that the EPS suggested in the earlier is high. The combination of the two Optical Buying groups should reduce overhead and yield slightly higher profit percentages.
Here was the previous acquisition of Combine.
Did $17 mil. in revs but ISEE only paid $2.5 mil. Thats because of the slim margins.
Garden City, NY, October 6, 2006 – Emerging Vision, Inc. (OTCBB – ISEE.OB) today announced that it has acquired substantially all of the assets of Combine Optical Management Corporation (“Combine”), a leading optical group purchasing company. Pursuant to the terms of the agreement, the Company will pay approximately $2.5 million in cash. At closing, the Company paid $700,000 with the remainder of the cash purchase price to be paid at various times over a five-year period. Additionally, the Company granted the prior owner 3,515,625 stock options at an exercise price of $0.15, 2,187,500 of such options which may be put back to the Company at $0.32 per option from September 29, 2010 to September 28, 2016.
Combine, which is based in Florida, operates an optical group purchasing business which provides its members with vendor discounts on optical products. Also acquired in this transaction was a development stage neutraceutical business that is focused on the development and distribution of nutritional supplements targeted to consumers with pre-dispositions to certain optical diseases and conditions. For the twelve months ended June 30, 2006, Combine had unaudited revenues of approximately $15.2 million. Combine currently has approximately 1,000 active members in its optical group purchasing business.
Christopher Payan, Chief Executive Officer of Emerging Vision, commented that “We are very excited about this transaction and believe Combine brings tremendous opportunity for future growth to our operations. In addition to more than doubling our revenue base, we anticipate generating many back office and IT systems synergies. Overall, we believe many opportunities exist to enhance both the Combine and Emerging Vision operations.”
Emerging Vision intends to operate Combine as a separate business segment with the existing management remaining in place. Neil Glachman, Combine’s long-time President, and optical industry veteran, has been retained by the Company to continue to serve in such capacity for the next five years.
Mr. Glachman added, “We are delighted about the transaction with Emerging Vision. This will provide us with the access to capital and additional resources to continue to grow the business. We look forward to working closely with Chris and the rest of Emerging Vision’s management team to offer the full breadth of the Company’s resources to our members and extend the twenty-five years of success Combine has demonstrated to the ophthalmic community.”
Mr. Payan concluded, “Led by Neil’s management and vision, Combine has grown to be a leader in its market. Its existing business and infrastructure is consistent with our growth strategy and this acquisition places Emerging Vision in a strong position to maximize future growth and further enhance shareholder value. We continually strive to bring exceptional executive talent to the Company, and anticipate that Neil will be a tremendous resource to Emerging Vision. We welcome Neil and his team to Emerging Vision and look forward to building our complementary businesses in the future.”
Your eps outlook for ISEE way off base!
.10 to .20 eps outlook because of The Optical Group acquisition is ridiculous. You cant compare it to CPNE.
The Optical Group is a buying group and it works on very slim margins. Why do you think ISEE is only paying $3.8 mil. for a company that does $37 mil. in revenue??
Do you even know understand what the Optical Group does??
They list many optical vendors that their subscribing members (eyecare profesionals) can buy from. Lets say eye doctor Dr. Smith buys a combined $5000.00 worth of goods in a month from the various vendors. The Optical Group sends them one consolidated statement from for $5000.00 which the eye doctor will pay to the Optical Group. Then the Optical Group pays the various listed vendors and tacks on a small percentage for basically pushing paper and collecting from the eyecare professionals. If you look back ISEE bought another buying group whose revs were much greater than the amount ISEE paid to acquire them. You can see the result has not changed ISEE's eps much at all.
The revenue numbers will increase substancially however the eps will only increase a little in my opinion. Not nearly the numbers you mention.
Your eps outlook for ISE way off base!
.10 to .20 eps outlook because of The Optical Group acquisition is ridiculous. You cant compare it to CPNE.
The Optical Group is a buying group and it works on very slim margins. Why do you think ISEE is only paying $3.8 mil. for a company that does $37 mil. in revenue??
Do you even know understand what the Optical Group does??
They list many optical vendors that their subscribing members (eyecare profesionals) can buy from. Lets say eye doctor Dr. Smith buys a combined $5000.00 worth of goods in a month from the various vendors. The Optical Group sends them one consolidated statement from for $5000.00 which the eye doctor will pay to the Optical Group. Then the Optical Group pays the various listed vendors and tacks on a small percentage for basically pushing paper and collecting from the eyecare professionals. If you look back ISEE bought another buying group whose revs were much greater than the amount ISEE paid to acquire them. You can see the result has not changed ISEE's eps much at all.
The revenue numbers will increase substancially however the eps will only increase a little in my opinion. Not nealry the numbers you mention.
Emerging Vision Enters Definitive Agreement to Acquire The Optical Group
Tuesday July 3, 9:29 am ET
Transaction Expected to Double Emerging Vision's Annual Revenue for 2nd Time in Past Year
Expected to be Financed Through the Use of Debt
GARDEN CITY, N.Y.--(BUSINESS WIRE)--Emerging Vision, Inc. (OTCBB: ISEE - News) today announced that on June 29, 2007, it entered into a definitive purchase agreement to acquire all of the outstanding equity interests of The Optical Group ("TOG"), one of the leading optical group purchasing organizations in Canada. Pursuant to the terms of the agreement, the Company will pay $3.8 million CAD (approximately $3.6 million USD) in cash. The Company plans to finance this transaction solely through the use of debt.
As operator of one of the nation's largest retail optical chains and one of the nation's largest optical group purchasing businesses, Emerging Vision, Inc.'s ("EVI") addition of TOG to its organization will further enhance its group purchasing business segment and EVI's overall position within the optical industry.
Christopher Payan, Chief Executive Officer of Emerging Vision, commented, "We are extremely excited about the additional value we expect our shareholders to see through this acquisition. This is highlighted by the fact that we plan to finance the entire transaction through the use of debt, thus providing no dilution to our existing shareholder base. The Optical Group is a mature, well-established business, and its operational team is focused on providing a high level of value and service to its members. It is a natural addition to our existing group purchasing business."
Emerging Vision intends to operate TOG within its group purchasing business segment, keeping the existing TOG infrastructure in place. Grant Osborne, TOG's founder and Managing Member, will remain involved to ensure a successful transition and integration. Closing of this transaction is anticipated to take place in early August 2007.
Mr. Payan concluded, "Even with the growth of popular retail brands such as ours, independent retailers still represent the largest segment of the retail optical industry. Emerging Vision continues to maintain a unique understanding of the ever-present entrepreneurial nature of this industry, and will continue to position itself as a leader both within the commercial chain store environment as well as to independent operators across North America. The Optical Group is the perfect Canadian complement to our U.S.-based Combine Buying Group. The 55 years combined experience of these group purchasing businesses, together with our own 90 years of retail optical experience, places EVI in a unique position to create an increased level of service for our customers at lower costs, all while increasing our revenues and enhancing value for our shareholders."
Source: Emerging Vision, Inc.
very nice analysis. thank you. i'm not very familiar with this sector. just saw the chart and saw lots of upside potential. still have my DD to do.
I can tell you why ISEE looks better than CPNE.
ISEE already has a positive EPS of 0.02 before the Acquisition. CPNE was on the red before the Acquisition. ISEE is acquiring a company with with revenues of about $37M. CPNE first acquisition was had revenues of about $7M. ISEE is in a steady industry where the flow of revenues is easily predictable. CPNE is in the internet services where the flow of revenues is tricky (no wonder they've been bouncing between $1.50 and $3.50 due to lack of consistency in flow of income, but atleat they got off $0.20 after the Acquisition). Currently ISEE is trading where it is supposed to be trading at before the acquisition (EPS 0.02 x PE 20 = ~ .40). When this acquisition kicks in, the revenues included will be about 500% of what ISEE is generating right now (ISEE has revs of $8.3mil, while the new company has $37mil). Combining both figures, we should see and EPS of between 0.1 to 0.2, depending on the gross profit margin. Thus, giving us PPS of between $2 and $4 by the next coming Quarter on the consolidated financial statements.
interesting. thanks. what other similarities are there between these two companies? similar management?
This is they way CPNE started last year. They bought a couple of companies when the stock was trading at 0.2, The PPS stayed there for a month or so until the effects of the acquisition kicked in. CPNE traded at a high of $3.5 this year. ISEE is a good one too IMO.
interesting. thanks. hard to trust those internet sites though. didn't read it too closely or the disclaimer. they may have been paid to do that, dunno. but thanks. will read more.
the exit strategy PR was pretty interesting. I need to read it over again, and i have more DD to do
Yes I bought 60,000 shares of ISEE yesterday at .25 great backbone company. I feel we will need to stay in for a long run to get a positive gain from ISEE. Set Limits of what gains your looking for and sit back for some time.
Emerging Vision Completes Acquisition of Combine Optical Management Corporation
October 06, 2006 07:00:17 (ET)
GARDEN CITY, N.Y., Oct 06, 2006 (BUSINESS WIRE) -- Emerging Vision, Inc. (ISEE, Trade) today announced that it has acquired substantially all of the assets of Combine Optical Management Corporation ("Combine"), a leading optical group purchasing company. Pursuant to the terms of the agreement, the Company will pay approximately $2.5 million in cash. At closing, the Company paid $700,000 with the remainder of the cash purchase price to be paid at various times over a five-year period. Additionally, the Company granted the prior owner 3,515,625 stock options at an exercise price of $0.15, 2,187,500 of such options which may be put back to the Company at $0.32 per option from September 29, 2010 to September 28, 2016.
Combine, which is based in Florida, operates an optical group purchasing business which provides its members with vendor discounts on optical products. Also acquired in this transaction was a development stage neutraceutical business that is focused on the development and distribution of nutritional supplements targeted to consumers with pre-dispositions to certain optical diseases and conditions. For the twelve months ended June 30, 2006, Combine had unaudited revenues of approximately $15.2 million. Combine currently has approximately 1,000 active members in its optical group purchasing business.
Christopher Payan, Chief Executive Officer of Emerging Vision, commented that "We are very excited about this transaction and believe Combine brings tremendous opportunity for future growth to our operations. In addition to more than doubling our revenue base, we anticipate generating many back office and IT systems synergies. Overall, we believe many opportunities exist to enhance both the Combine and Emerging Vision operations."
Emerging Vision intends to operate Combine as a separate business segment with the existing management remaining in place. Neil Glachman, Combine's long-time President, and optical industry veteran, has been retained by the Company to continue to serve in such capacity for the next five years.
Mr. Glachman added, "We are delighted about the transaction with Emerging Vision. This will provide us with the access to capital and additional resources to continue to grow the business. We look forward to working closely with Chris and the rest of Emerging Vision's management team to offer the full breadth of the Company's resources to our members and extend the twenty-five years of success Combine has demonstrated to the ophthalmic community."
Mr. Payan concluded, "Led by Neil's management and vision, Combine has grown to be a leader in its market. Its existing business and infrastructure is consistent with our growth strategy and this acquisition places Emerging Vision in a strong position to maximize future growth and further enhance shareholder value. We continually strive to bring exceptional executive talent to the Company, and anticipate that Neil will be a tremendous resource to Emerging Vision. We welcome Neil and his team to Emerging Vision and look forward to building our complementary businesses in the future."
About Emerging Vision Emerging Vision, Inc. is a leading provider of eye care products and services and currently operates one of the largest franchised optical chains in the United States. Principally under the Sterling Optical and Site for Sore Eyes brands, the Company has 160 franchised and company-owned stores located across 15 states, the District of Columbia, Canada and the U.S. Virgin Islands. Most of the Company's stores offer prescription and non-prescription eyeglasses, eyeglass frames, ophthalmic lenses, contact lenses, sunglasses, and a range of ancillary items. The Company also operates VisionCare of California (d/b/a Sterling VisionCare), a specialized health care maintenance organization that employs licensed optometrists to provide services for stores located in California. For more information, visit Emerging Vision's website at www.emergingvision.com.
Certain statements made in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors are discussed in detail in Form 10-K for the fiscal year ended December 31, 2005. Given these uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in the Annual Report on Form 10-K or this news release except as required by law.
SOURCE: Emerging Vision, Inc.
Emerging Vision, Inc.
Christopher Payan, Chief Executive Officer, 516-390-2134
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Financial Dynamics
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