TGX:NYSE $1.15 + $.18 No Brainer
In HOT sector Provider of cancer treatments
Over $41 million in cash
$1 / share working capital no debt
Record Q1 revenue up 32%
Obtained new $30 million credit facility
Investor Presentations next week
Historically $3.50 range before crash
This stock is about to shoot up.. On May 7, TGX announced its
financial results for the first quarter ended April 5, 2009.
Consolidated results include the results of NeedleTech Products, Inc.
subsequent to its acquisition by TGX on July 28, 2008.
The company reported consolidated revenue for the first quarter of
2009 of $20.1 million, an increase of 32% over first quarter 2008. Net
income for the quarter was $607,000, or $0.02 per share compared to
$1.6 million or $0.05 per share in 2008.
“Our surgical products business delivered excellent results in the
first quarter with 12% year over year pro forma revenue growth,”
stated M. Christine Jacobs, Chairman and CEO. “Although we continue to
see softness in brachytherapy procedures, a trend that is likely to
continue, our brachytherapy business remained profitable and continues
to be an important contributor to our strategy.”
Ms. Jacobs continued, “We believe that recording our highest quarterly
revenue ever, especially in the current economic environment, is a
good start for 2009. We have maintained profitability while investing
in our important strategic initiatives.”
Better yet, on May 28, TGX announced that it entered into a new
unsecured credit agreement with Wachovia Bank, National Association.
The new credit agreement consists of a $30 million revolving credit
facility and a $10 million term loan.
“Obtaining our new credit agreement is a significant accomplishment,”
stated M. Christine Jacobs, Chairman and CEO. “We believe that our
ability to obtain this new credit agreement is a testament to our
strategy, our focus on quality cash flows and the strength of our
balance sheet.”
