Value Microcaps Motherboard

[micham2012]

tubberclare re VPHM:

Very little to add to Bobwins' and MSGI's remarks except to note for earnings purposes that the royalty payments to Lilly in Q3 and Q4 are to be amortized over 25 years. Thus, while the payments are a hit to cash, they should not have a big impact on earnings.

All that I will be looking at is Q2 revenues from Vancocin sales. I am expecting that Q2 revenues will be good/great, and that revenue guidance for the balance of 2005 will be upbeat. I also have a feeling that future price increases may be possible without impacting demand levels.

Below is a link to a post from Yahoo message board, by a poster that has studied the numbers carefully, commenting on Piper's numbers. My guess is that his numbers are closer to the truth than Piper's; however, whichever numbers you believe, if my math is correct (!), when you back out the one time derivative charge the adjusted number for earnings should reach to the high teens that Bobwins noted.

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7077380&tid=vphm&sid=707....

Steve