Microfluidics Intl (fka MFLU)

[cfoofme]

Nobile at Taglich upgrades MFIC.
Baton
From the report:
Key investment considerations:
We are upgrading our rating for shares of MFIC Corporation (OTC BB: MFIC) to Speculative Buy from Neutral and setting a twelve-month price target of $2.00. We believe the Company’s backlog supports near-term growth while new leadership should drive long-term growth.
On March 12, 2008, MFIC announced that fourth quarter 2007 revenues decreased 14% to $4.3 million from $5.0 million in the same period in fiscal 2006. The net loss was $0.1 million or $(0.01) per share versus net income of $1.0 million or $0.10 per diluted share.
Looking at the Company’s results over the past few years, backlog has proven to be a good indicator of what level of revenues to expect for an upcoming quarter. The Company’s order backlog at December 31, 2007 was a healthy $4.4 million and grew to approximately $4.7 million as of March 7, 2008.
We met with MFIC’s CEO Mike Ferrara in late January and walked away with the impression that MFIC had the right man in place to turn the Company around. On the fourth quarter conference call, Ferrara confirmed his strategy for the Company and said that 2008 would be a year of change and of wise investments for MFIC. Ferrara was previously CEO at X-Rite Inc. where he was able to achieve record-level revenues and earnings.
For fiscal 2008, we estimate MFIC will generate revenue of $18.0 million and report net income of $1.3 million or $0.12 per diluted share. Previous estimates called for fiscal 2008 revenue of $13.1 million and a net loss of $1.0 million or $(0.09) per share.
http://www.taglichbrothers.com/equityuniverse/companies/mficcorp/mficcorp.asp