Thanks on FONR. I'd agree with your valuation if they had an ugly balance sheet. But doesn't sitting on $7/share in cash have to figure into the valuation somewhere?
Q3 earnings were over .50/share because they were barely taxed. So I don't think we could assume they were gonna start cranking out .50+ quarters.
Given the stock's lackluster performance in recent months, I actually thought Q4 might be worse. Bottom line wasn't terrific (even assuming a normal tax rate & non-controlling interest) but revenues were pretty strong. They'll have tough earnings comps coming up. But the revenue comps are easier. I like that FONR has a defensive business, and they should be less affected by supply chain issues than many others. Might become important if the broader markets start hitting the skids.
Outlook in the PR this week seemed positive. I'm expecting slight growth in revenues & earnings this year...but the stock has been beaten up so much...maybe it'll rebound back over $20. Not the most exciting upside potential, but I think downside risk is limited too.
CEO from Tuesday's PR-
"For fiscal 2022, we're looking at four major projects. By the end of the first half of fiscal 2022 we plan to have completed the installation of a second MRI scanner at our Pembroke Pines, Florida site, established another MRI facility in the Bronx, New York, and relocated one of our Manhattan, New York facilities across town where it will be equipped with two MRI scanners. In the second half of fiscal 2022, we plan to establish a new facility in central Florida."
"The prime focus of the selection of scanning center locations is that they will be financially very successful. Our team has an excellent understanding of the nuances of this medical market place. So, these four new centers in fiscal 2022 are a 10 percent increase in the number of centers that we manage and we expect that this will translate into a corresponding increase in revenues and profitability," concluded Mr. Damadian.
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