Singing Machine Company Inc (MICS)

[HokieHead]

SMDM
Current PPS: $0.18
Hokies Target: $2.50

Shares Outstanding: 38 million
Shares Float:17 million
Market Cap: $7 million

Recent Announcements:

-The Company reported third-quarter net sales of approximately $16.6 million, as compared to net sales of approximately $8.7 million in the same quarter last year (increase of 90%).
-The Company also posted quarterly net income of approximately $1.4 million for the quarter ($0.04 per share), and year-to-date net income of approximately $2.4 million ($0.06 per share). Gross margin was 24.2% compared to 20.8% in the year-ago quarter.
-The Company also reported a record-breaking quarter for its eCommerce business where the Company increased its internet sales volume by over 145% compared to the year-ago quarter.
-Year-to-date, the Company has added over $8 million in new additional net sales compared to the same period last year and improved our bottom line by almost $1.3 million.
-The Company reported that during the holiday period, its Singing Machine Mobile Karaoke App was the #3 most downloaded app in the iTunes™ music section.
-Cash on hand end of last quarter was $3.5 million, or $0.09 a share.

Conclusion:
Company earned $0.04 last quarter. If they earn $0.15 to $0.20 cents in 2013, give this the industry PE of 15 and you have a $2.25 to $3.00 price per share.

Great place to add.