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Muscle Pharm Corp. Message Board

  • mtc44380 mtc44380 Jan 29, 2014 9:41 AM Flag

    update to shareholders

    Looks like we have 2013 earnings coming out in march, total 110 mill roughly. Also looking at earnings of .20+ For 2014, so profitability! with sales of 150million
    they r working on getting better controls to provide guidance for listing on the NASDAQ. And also looking to expand a facility to Europe and Latin America.
    Looks pretty promosing

    Sentiment: Strong Buy

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    • A couple of obvious reactions...

      1) 2013 net sales of $110M implies Q4 net sales of around $37M. $37M * 4 - $148M. So the 2014 net sales estimate of $150 - given that Q4 doesn't reflect a full qtr of FitMiss in Wags, additional FitMiss products in Wags in the second half of 2014, a second MP product in Costco in the second half of 2014, "normal" growth that can be expected to occur in 2014, and new products that the update suggested might be released in 2014 - seems AWFULLY conservatie.

      2) The $0.20-$0.22 EPS translates to less than $3M. I certainly HOPE this is AFTER the $15M or so in non-cash charges I expect them to incur for amortization of stock grants. Whether it's before or after makes a MASSIVE difference, and should have been explicitly stated in the update.

      • 3 Replies to fkk_kass
      • EPS guidance is on GAAP basis meaning after non-cash charges. 2012 EPS of $ -13.0 in the table confirms that.

        Sentiment: Buy

      • If they could match this year's 64% revenue growth, they would hit $180m, and surely achieve some serious earnings.

        Sentiment: Buy

      • I assumed they would go conservative, since its their first year reporting. Im also sure it wont be cheap adding production facilities in Europe and Latin America, but they will set them up for success in those international markets.
        This was the 'update' we were looking for, obviously they will indulge more during the earnings call. This will add more room for questions (if they allow them).

        If we can get the NASDAQ listing and SEC investigation figured out - it would definitely be a big bump for the pps. Then we can worry again about earnings. We forget that its only been a year since the split - and success takes year to build. They are making the right steps and doesn't seem like they fizzle away any time soon. Its pretty impressive how far they have come in a year.

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