Well, if we read the release carefully, Q4 looks pretty strong.
"“Looking ahead, we expect to report record fourth-quarter revenue, driven by increased demand for Orthovisc and the fulfillment of the delayed shipments. We also expect improved profitability in the quarter."
OK, ANIK's previous high revenue was $19.6 million. So the company is saying that Q4 revenue will be at least that. Now use their net margin from a normal quarter, like Q3 2011, which was 16.1%. This gives you Net Income of $3.16 million. Divide that by the fully-diluted share count from Q3 2012, 14.459 million, and you get $0.22/share in Q4 2012. Which is ahead of the current Q4 consensus of $0.19/share.
Q3 wasn't pretty but it wasn't unexpected either. Orthovisc is finally flowing out of Bedford. Let's keep it up!
Well, turned out we should expect record sales, if not eps... which will be a nice 23c. However, we are still missing in q4 what we just lost in q3! 5- 10c for the year. Revenues of 70ish would be in line with guidance.
All thanks to Mitek.Lots of stuff in the pipeline... but jammed up... and some crappy distributors blocking the route to market.