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CryoLife Inc. Message Board

  • dlhild@ymail.com dlhild Sep 6, 2013 11:12 AM Flag

    "Stevie Anderson" versus "Six Gun Pete"

    Some of you may remember the fictional character "Six Gun Pete". "Six Gun Pete" had six hands, so he could fire six pistols at one time. This reminds me a bit of Stevie Anderson. Stevie is the Chairman and CEO of a small company whose stock price has spent a lot of time close to $6/share. As I recall, CRY's share price was $6 back as far back as 1995 and 1996; and, it is still hovering around $6/share 18 years later. This is one important management metric where Stevie has seriously under performed. At 74 he has had sufficient time to perform. Perhaps it is time for Stevie to go play shuffleboard with Seery. I'm wondering now whether "Six Dollar Stevie" is about to become "Five Dollar Stevie".

    Let's flash back in time to the 2009, 2010, 2011. My recollection is that the analyst's at the time where projecting EPS close to $0.55 by 2012. Had this had happened, what would CRY's share price be today? $10 plus? Stevie always seems to be "a day late and a dollar short". Stevie always has a story to tell. Every quarterly call, he opens the discussion with "CRY had yet another quarter of record sales...". As I recall, sometime(s) he had to buy another company to reach record sales. Also, he can't say the "CRY had yet another quarter of record earnings...". Also, Stevie likes to talk about the size of the potential market for various products, like PerClot. He said something like the US hemostat market is $1.1 billion and the European hemostat market is on the order of $400 million. He doesn't define things very well. I think that other products besides powdered hemostats may be included in his projection numbers. Also, he neglects to define what part of the market CRY is likely to capture, or when CRY will do so. IMO, Stevie is perhaps a better 'story teller" than CEO. IMO at 74, it's time for Stevie to go.

    These are just opinions. You may view things differently. Do your own due diligence.

 
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