ENTX reports $.04 vs nil, revs up 91% to $8.6M
The financials filed in ENTX's 3/08 10-Q (Friday morning) continue to support my assertion that this one is stunningly undervalued, even after Friday's price bump.
ENTX logged Q1 revenues of $8.6M vs $4.5M, operating income of $.06/share (vs nil), and EPS of $.04 (which reflects a $.02 impairment charge on available-for-sale securities). Of particular note was "net cash provided by operating activities" which soared 5-fold to $1.23M or $.16/share!
At Friday's closing price of $.30, ENTX trades: below cash-per-share of $.34; way below book-value-per-share of $.89; and at a P/E of 2.5 based on 12-month trailing EPS of $.12.
Also noteworthy in the 10-Q was the revelation that shareholders did not approve a 1-for-500, 500-for-1 reverse/forward split plan. I view this as a minor positive as some may have viewed the plan as a step toward deregistration.
Needless to say, I continue to "pound the table" on ENTX.
When it comes to P/Es, 7 is the new 14...
