REPR earnings out...
The good news:
(1) They're still making money and expecting starting now a jump in sales (and presumably net income). There was a temporary expense of a bonus paid to the CEO. Earnings came in at .003, without that expense, .005 EPS. There were also unknown amounts of one-time bonuses given out to employees.
(2) They have stockpiled a huge amount of inventory for the expect FDA approval sales of the Hi-Flo needle which they expect will show a jump in sales for the next quarter. Previous communication on the needle suggests the profit margins on it are significant.
(3) The CEO exercising his stock options and not selling any shares triggered a one-time pretty large tax benefit for some reason.
(4) Balance continues to go from good to great with a growing cash balance on top of the huge inventory levels (in preparation for the Hi-Flo needle launch). Book value (all tangible) is around .11/share.
(5) Everything was up year over year despite the increased costs from newly hired staff and one-time bonuses. Also the "bonus" the CEO got was less than an amount he previously loaned the company and forgave on the debt. He turned around and used the bonus to exercise his stock options and hold them.
(6) They attended several trade shows during the quarter to market their products. Historically, these have lead to bumps in sales.
The bad news:
(1) Sales and earnings down slightly sequentially.
(2) They spent the quarter preparing to market and sell the High-Flo needle, and, as such, didn't have any sales yet for the High-Flo needle in the reported quarter.
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