is very important for upward trend to be maintained. If this is broken I will be lightening up as the next real solid base that I can see is just above 11.
Almost 5% of the co's stock traded today, much of it in large blocks. To me it seems some speculative players decided not to wait for FDA approval and took off for greener pastures.
I didn't know earnings would be released today! Great earnings on existing sales show the company knows how to make $. Profit margin for the quarter is 23%, excluding $1.5 mil licensing fee. EPS of .06 beat estimate of .05 (Yahooo). ORTHOVISC being launched in Europe and Latin America in the second half of 98 will add substantial revenue to third and fourth quarter. FDA will decide US approval or not by early next year at the latest.
Even though the stock price took a whipping from certain large and probably short term investors, if it holds at 14 the uptrend can (and likely will) recover. Fundamentals still look great, nothing has changed, this company is doing everything it has stated.
I agree that today's fall was based on investor expectations and NOT on management's misleading statements. It is really timing of the announcement that may be at issue.
I admit, my timing in purchasing was based on the stock coming onto my radar screen, review of the available info (including posts on this board) and recent movement in the stock price. And I didn't want to miss the boat!
That management has stated early 1999 is not in dispute. Am I angry at management, NO. Would I appreciate a statement clarifying the timetable, YES. Could they have addressed the issue earlier, MAYBE. Did it warrant a standalone press release, MAYBE NOT. However, the good news today was overshadowed by this issue.
Interest in AR is just curiosity, and I don't perceive it as a problem, at this point. Thanks for the info on PP&E.
i don't see the interest in recs being up; the b/s is one day in time and tomorrow the number could be far less; as to pp&e, please see p3 of annual report "anticipating greater demand for our HA products, we plan to significantly expand our manufacturing capacity over the next two years." no surprises here in my opinion; as to being angry at mgmt, i gotta tell you they were saying fda approval early 99 for some time; it was only the posters here who really jumped the gun; look back to june posts and strong assertions were made to approval by 7/1; when that failed to happen the next date chosen by posters was 9/30/98; mgmt kept saying '99; i think most of the misleading was here not in massachusetts cheers hj