Disappointed? Yes. Sales of the bone scalpel and wound debrider fell short of expectations. However, I believe that these devices are both winners and that the current sales efforts of MSON to gain traction in the market will bear fruit and that patience will be rewarded. Questions about sales of these products occupied most of the time devoted to the one hour conference. Also of interest were the questions raised about selling the company. After a pro forma denial by Mr. McManus that he was interested in selling MSON, he replied that, in the absence of a history of EPS, a company with promising products like MSON could expect to receive 6 to 7 times its annual revenues. My crude math calculations suggest that this would translate to a price of some 15 dollars a share. Of course, if sales should ignite, the price could be substantially higher. The wait has been longer than anticipated but I remain optimistic whether the company remains independent or is sold to a larger medical device maker.
Warren Buffett...."In the short run, the market is a voting machine, in the long run it is a WEIGHING machine." Given the GROWTH rate of our new products, MSON will weigh out just fine, over time. Between then and now, there will be many great trading opportunities, this should be a GREAT opportunity to pick up some of those trading shares. :-)