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Below from the quarter ended 11/30/12. Nice increases in sales, but a one-time bonus, the hiring of key personnel to expand sales, and increased costs for trade shows and marketing really hurt the net profit, income, and EPS. I keep waiting for REPR to sustain an increase in both Sales and EPS...
Q ending 8/2012
Net Sales 1,951,608
Net Op Profit 541,993
Net Income 350,644
Net inc/share 0.01
Q ending 11/2012
Net Sales 2,070,409
Net Op Profit 87,391
Net Income 55,524
Net inc/share 0.00
That was such a poor attempt at humor that I now agree you should be banned.
Just bought more! No brainer to follow the smart money.
Yes I'd calculate that as at least 40% of the float. If you add my .05%, that's like 41% of the float, locked up (rounding up, of course)
Q over Q and Y over Y increases..
Check this out, from the most recent quarterly report. Very nice increases from this little company!
Q ending 8/2012
Net Sales 1,951,608
Net Op Profit 541,993
Net Income 350,644
Net inc/share 0.01
Q ending 8/2013
Net Sales 1,362,217
Net Op Profit 178,887
Net Income 118,073
Net inc/share 0.00
Q ending 5/2012
Net Sales 1,744,165
Net Op Profit 146,121
Net Income 90,339
Net inc/share 0.00
“Net Sales increase was due in part to a substantial increase in sales of RMS HIgH-Flo Subcutaneous Safety Needle Sets, quarter over quarter."
"The company’s sales of its FREEDOM60® and RMS HIgH-Flo™ needle set product lines improved in both domestic and international markets.
"Regarding the Freedom60: In order to receive more favorable Medicare reimbursement for our FREEDOM60® Syringe Infusion System, we had submitted a formal request for a HCPCS coding verification with the Statistical Analysis Durable Medical Equipment Regional Carrier (SADMERC). It was the determination that the Medicare HCPCS code(s) to bill the four Durable Medical Regional Carries (DMERCs) should be: “E0779 Ambulatory infusion pump, mechanical, reusable, for infusion 8 hours or greater.” The new code significantly increases the reimbursement for the FREEDOM60® for billable syringe pump application approved by Medicare. Current approved uses under Medicare include among others, subcutaneous immune globulin, antivirals, antifungals, and chemotherapeutics. In June 2007, Medicare issued a letter of clarification stating in part:
“The FREEDOM60® Syringe Infusion Pump is the only allowable pump to be billed with the Subcutaneous Immune Globulin (SCIg). The code for this pump for dates of service 1/1/00 - 5/16/07 is E0780. For dates of service on or after 5/17/07, the correct code is E0779 per SADMERC. The items being billed must be supported by corresponding documentation. All other pumps or modifiers will result in a denial.”
Thanks for posting this link! I'm purchasing (even) more JBI stock next week.
Great points.
Love it.
$2.3 Million
Nice write up from 12/5/12. Good info for those new to REPR.
Edit: I see KnowledgeIsKing already posted this... naturally!
http://otcadventures.com/?p=418
Repro-Med Systems: Growth and More Growth – REPR
Repro-Med Systems sells the FREEDOM60® Syringe Infusion System as well as other medical devices. The company is profitable and has grown revenues at 29.6% annually since 2006. Repro-Med was co-founded in 1980 by CEO Andrew I. Sealfon, who owns 21% of shares outstanding.
Repro-Med’s flagship product is the FREEDOM60® Syringe Infusion System. This device allows patients to receive constant drug infusion therapy without being tied to an IV stand, allowing them to go about their lives. It looks like this.
The device can be used to administer several different drugs, and the company continues to search for new applications. FREEDOM60® is approved for use in the US as well as many European and Asian nations. Very importantly, Repro-Med’s product is the only Medicare-approved product for subcutaneous administration of immune globulin. I am not extremely familiar with medical terminology, but a little googling informs me that immune globulin treatment is given to patients with compromised immune systems and autoimmune disorders. Elements of FREEDOM60®’s design are patent-protected.
The company also sells the RES-Q-VAC® Suction Unit. In 2012, sales of the FREEDOM60® accounted for 86.4% of Repro-Med’s total revenue, while RES-Q-VAC® accounted for 12.3%. Other legacy products made up the other 1.3% of sales.
The success of the FREEDOM60® has resulted in record revenues and operating income for the company over the last twelve months. In the quarter ended August 31,2012, revenues rose 43.3% over the same quarter a year earlier and operating profit leaped 203%.
Net income was artificially inflated in 2008 and 2009 as the company wrote up the value of net operating loss carryforwards that had previously been written off. A better gauge of true profitability is operating income, which reached a new high last quarter.
The company’s gross margins are a thing of beauty, coming in around 65% for the last few years. These margins have remained steady as revenues increase, indicating the company has not had to reduce prices to stoke demand. Operating cash flow has lagged net income, but Repro-Med’s rapid growth makes this only a minor concern. Growing companies must invest in working capital assets like inventories and accounts receivables, which depresses operating cash flow. (By contrast, poor operating cash flow in a company that is not growing is very worrisome.)
Repro-Med’s balance sheet is extremely healthy, showing $1.94 million in cash and equivalents against total liabilities of just $1.22 million. The company also makes extremely good use of its assets, recording a return on equity of 32.9% in 2011 with minimal leverage.
Despite its track record of nearly 30% annual growth, positive free cash flow and robust profit margins, Repro-Med’s valuation is modest.
On a twelve trailing months basis, Repro-Med has a P/E ratio of 9.00 and an Enterprise Value/EBITDA ratio of 4.35. Since, Repro-Med is growing so quickly, twelve trailing months data understates the company’s earnings power. Annualizing results from the quarter ended August 31, 2012 gives a P/E and EV/EBITDA of only 6.03 and 2.98, respectively. Regardless of how it is calculated, numbers like these are more typically seen in low-growth or highly cyclical companies, and Repro-Med is neither.
Of course, the fact remains that Repro-Med is a tiny company competing in an industry dominated by gigantic international companies with deep pockets and huge R&D budgets. It’s possible that new drug therapy regimes could render Repro-Med’s products obsolete or changes to Medicare could reduce reimbursements for the FREEDOM60®.
Despite these risks, the company has been extremely successful in increasing revenues and profits. As Western societies (and eventually the rest of the world) grow older and require more frequent and more intensive medical care, medical device manufacturers like Repro-Med stand to benefit from ever-increasing demand.
Disclosure: No position.
Great Quarter... .04 eps. Will check out the report later.
Tomorrow's CLSN crash is going to be wearing a two-sizes-too-small polo shirt, holding a bottled water, standing in front of a pool.
Thailand... Which has:
1) Nationalized healthcare
2) Healthcare expenditures as % of GDP at 4.3%. US is the highest of any industrialized nation, at a ridiculous 15%. Yet, US healthcare stats are middle of the road at best.
3) 99.5% of Thai citizens have insurance coverage, which (counterintuitively) reduces overall health expenditures.
As a fiscal conservative, I am all for the affordable care act.
Love it! Excited for the JBI expansion.
I really like that idea!
I'm having déjà, déjà, déjà, déjà, vu.
Actually I think the conclusions are based on 2,000 lbs/hour based on the following:
* They report that they only witnessed the processor running at 2,000 lbs/hour due to permitting restraints.
* Over the 3-day period, the unit processed 121,318 lbs of waste plastic. 3 days = 72 hours. 2,000lbs X 72hrs = 144,000 total lbs at an absolute max. So, it looks like they did run it for three days at 85% uptime.
The trial yielded 80lbs of fuel for every 100lbs of plastic processed.
The conclude that at 75% uptime, and an 80% yield, while processing 2,000 lbs/hour, the processor can generate $28M per year EBITDA.
Based on all this, I'll go ahead and conservatively say that we can get an EBITDA of $50M per year per processor at 4,000lbs/hour. Me likey.
(Oh and I can't respond to PM's but thanks for the message)
...and this is 75% uptime assuming 2,000 lbs per hour, right?
Completely agree. Great post!
Me too. Buying more JBI cuz P2O works... and with massive profitability.
Thanks! There's no doubt that plastic is being moved through the beasts at the plant.
Thanks! Very bullish comments noted.
Just bought more JBII to add to my collection. Exciting times ahead with:
* Resolution of SEC complaint,
* Announcement of RKT sites,
* Run tickets displayed,
* Increasing sales,
* Cash Flow Positive early/mid 2013
Good point.
Think of the A/R as bars of Steel, 99% of which will turn to Gold within 9 months at the latest.
In that scenario, how could attaining more bars of Steel possibly be a bad thing?
In my unbiased opinion, having more bars of Steel is a great thing!
I'm really happy about my JBI investment so far. Lots of really nice progress, and very fast progress for a start-up with brand new technology. According to our new CEO, we'll be cash flow positive by first quarter 2013 - and all signs are pointing that direction.
I am a very large shareholder (relative to my portfolio and annual income), and I do not care what it actually says. The approval is all I need to know.
lol
Yet, great point.
What rumors has JBI's IR manager spread? Please be specific and provide proof.
What has JBI's IR manager shared with you regarding a settlement?
I sold yesterday. Should've alerted you guys :)
(only made 15% but could've been much more!)
Liked these items:
We continue to experience an increase in sales. With these increases and the capital we currently have at the end of this period, we will continue to meet or exceed the company’s liquidity needs for the next twelve months.
We have expanded the use of the FREEDOM60® to cover antibiotics including the widely used and somewhat difficult to administer Vancomycin and beta lactams with longer infusion times. We have also found a following for FREEDOM60® for use in treating thalissemia with the drug Desferal®. In Europe, we found success in using the FREEDOM60® for pain control, specifically post-operative epidural pain administration. Our European market also uses the FREEDOM60®for chemotherapy as well as subcutaneous immune globulin.
In order to receive more favorable Medicare reimbursement for our FREEDOM60® Syringe Infusion System, we had submitted a formal request for a HCPCS coding verification with the Statistical Analysis Durable Medical Equipment Regional Carrier (SADMERC). It was the determination that the Medicare HCPCS code(s) to bill the four Durable Medical Regional Carries (DMERCs) should be: “E0779 Ambulatory infusion pump, mechanical, reusable, for infusion 8 hours or greater.” The new code significantly increases the reimbursement for the FREEDOM60® for billable syringe pump application approved by Medicare.
I take this to mean that REPR's customers will receive a higher reimbursement now for using the Freedom60, which is indirectly good for REPR.
I'm okay with this:
Selling, General and Administrative costs increased 50.3% from $586,778 in 2011 to $881,770 in 2012 primarily as the result of hiring additional staff in the sales and marketing areas, a bonus and salary increase authorized by the Board of Directors for the CEO calculated to partially reimburse him for a federal tax payment due in connection with his exercise of stock options to acquire shares of our common stock during our prior fiscal year, increased payroll and increased marketing expenses for advertising and trade shows.
...as long as this stays as is:
“The FREEDOM60® Syringe Infusion Pump is the only allowable pump to be billed with the Subcutaneous Immune Globulin (SCIg). The code for this pump for dates of service 1/1/00 - 5/16/07 is E0780. For dates of service on or after 5/17/07, the correct code is E0779 per SADMERC. The items being billed must be supported by corresponding documentation. All other pumps or modifiers will result in a denial.”
But yeah I hear you been waiting around awhile now waiting for them to really start to get traction. I'm thinking that they've set it up to really deliver now.
Why would those rooting for JBI's demise point out what they perceive as problems with their business?
It's like calling the fire department for a fire in a house you want to burn down... Doesn't make any sense at all.
AAPL iPhone 5 release announcement date: 8/7/12
... according to a "reliable industry insider".
Apple will announce the iPhone 5 on August 7, Know Your Mobile can exclusively reveal.
A reliable industry source who wishes to remain anonymous revealed to Know Your Mobile that Apple’s highly-anticipated and much-rumoured iPhone 5 will be launched via a keynote speech on August 7.
The new date correlates with reports from earlier in the month the iPhone 5's release had been brought forward from October to August.
At present there are no further details about specs, design or availability. Current rumours suggest Apple’s next flagship smartphone will feature an aluminium two-tone back panel and a larger 4-inch Retina display, as well as an NFC chip and a next-gen processor setup.
Apple is expected to offer a significantly different visual design from its previous models - the iPhone 4S was externally identical to the iPhone 4. There are plenty of rumours suggesting a range of aesthetic possibilities from unibody designs to curved ‘teardrop’ profiles.
The iPhone 5 will also be the debut device for the next version of Apple’s iOS operating system, iOS 6, which is expected to introduce a wealth of new changes in order to challenge its recently unveiled rivals: Microsoft’s Windows Phone 8 and Google’s Android 4.1 Jelly Bean.
www.knowyourmobile.com/blog/1482786/iphone_5_official_release_date_revealed_as_august_7.html
Got any evidence to support any one of these accusations, including the personal attack of John Bordynuik that he is a "psychopath"?
I called their IR - he's in a meeting. I asked that he answer my question re: Trading exchange, via email or phone. Will let the board know if I get a response.
Zecco allowed me to purchase some NHCR at 11:35am. They would not let me sell it at 12:25am at .012 because they say they're over a certain volume that's allowed to be traded at their desk.
Combine this with the "typo" in the PR and it's been a great Monday :)
Good catch. When was the last update? Have we passed a court deadline for something without an update? (thanks in advance- I assume you have access to pacer...)
In your world, a list of recent investors is a "paid promotion"?? What an interesting world you must live in!
On the other hand, thanks for drawing more attention to the Whales.