Joe and Smart - thanks for the welcome. As far as my top 2-3 value picks right now, i would have to mention 5 for diversification purposes, perhaps these 5: MDPA, EGAM, CREB, CAMY, EYDY. As for those people who won't buy bulletin board stocks under any circumstances, these are not geared for you, but personally i believe the best values in terms of risk/reward can be found down there. Last year i owned MED (formerly MDFT) at around 1.25 when it was on the BB - we all know where that trades today on the Amex (over $15.00) but the most money was made from the bottom (the really smart money bought under 50 cents). In any event, the parameters MDFT had in 2002 were rising sales (>100% year over year) while maintaining a low p/e of around 10. I see this happening now with EYDY, which just announced >100% increase in rev's for around 5 straight quarters and highly profitable, eps around .02 in the last quarter alone and the stock is trading at .42 with a mkt. cap of $9M currently, sales of $1.1M in latest quarter (21.6M outstanding shares), eps of 400K in latest quarter. In the same field as MED there is HNNS, with an extremely low mkt. cap of about $1M, and profitable already.
(Edit - by the way, some of these companies are thinly traded and have wide spreads; certainly not for day traders ... lots of patience required ... and high risk as well.)
Then there is MDPA (Metropolitan Health Networks), which has been on fire lately - this is a turnaround story, mkt. cap currently $20M at a price of .62 with $150M in sales, they had eps of .05 per share over the last 6 months which INCLUDES the money-losing pharmacy operations that they're in the process of selling. Excluding the pharmacy you're talking about an eps of .08 in six months, for a stock trading at .62. (I've reproduced their latest earnings release below.) CAN they keep it up? That's part of the risk/reward equation: if they can, you're talking about an eps of .16 (albeit without paying income taxes yet) and still higher if any growth is achieved.
In the case of Egames (EGAM), they've been profitable for six straight quarters, no dilution (10M shares outstanding), earned .19 eps ($1.9M) over the last 12 months, eliminated debt, etc., and the stock currently trades at .87. Again, all they need to do it KEEP IT UP, and they should get to the Amex or Nasdaq in a year or so with a stock price over 3.00.
Similar situations with CREB and ETEC. With CAMY, you've got a solid company with great technology trading at around 70% of sales, they just announced a huge contract.
Hopefully these companies will keep performing. If so, you've got to expect higher stock prices over the next few months and years.
METCARE Announces Second Quarter Results; Reports Six Month Net Income of $1.7 Million And Cash Flow From Operations of $2.2 Million
THURSDAY, AUGUST 14, 2003 8:47 AM
- BusinessWire
WEST PALM BEACH, Fla., Aug 14, 2003 (BUSINESS WIRE) -- Metropolitan Health Networks, Inc. (METCARE(SM)) (MDPA) a leading provider of healthcare services, today announced results for the three and six months ended June 30, 2003. For the quarter, the Company reported net income of $948,000 on revenues of $35.8 million, compared to a net loss of $2.1 million and revenues of $36.2 million in the prior year. On a basic per share basis, income was $.03, compared to a loss of $.07 for the second quarter of 2002.
For the six months ended June 30, 2003, the Company reported net income of $1.7 million on revenues of $72.7 million, compared to a net loss of $1.6 million and revenues of $70.6 million in the prior year period. On a basic per share basis, income was $.05, compared to a loss of $.06 for the first six months of 2002.
The 2003 results included losses from discontinued operations of $702,000 and $951,000 for the three and six months ended June 30, 2003 respectively, compared to losses of $346,000 and $754,000 in the prior year periods. These losses reflect the operations of the Company's pharmacy division in 2003 and both the pharmacy and clinical laboratory in 2002.
Mike Earley, President and CEO, commented, "We continue to be pleased with our 2003 results. Not only have we maintained our profitability from the first quarter, but also have continued to improve on a cash flow basis, which was a positive $2.2 million from operations for the six months. We are working diligently to focus our resources, attention and efforts on our managed care business. These results are allowing us to make positive strides in addressing our various balance sheet issues."
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