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SYNO - (Sold on 7/16/07 for a gain of 91%)
BOUGHT
at $7.77 SOLD
at $14.86
On May 25th Life
Technologies, a medical device company, reported fiscal 2nd quarter
revenue of $14.4 million which was up 5% from the $13.7 million
reported in the fiscal 2nd quarter of the prior year. Net income was
$41,000 or 0 cents per share which compares to net income of $483,000
or 4 cents per share in the year earlier period.
Synovis operates it's business in two segments, the surgical business
and the interventional business. The surgical business includes
implantable bio-material products as well as surgical tools. The
interventional business develops and manufactures coils, helices, and
other complex micro-wire, polymer, and micro-machined metal components
used in interventional devices for cardiac rhythm management, vascular,
and other procedures. This side of the business represented 59% of
total revenue last year. During the 2nd quarter the interventional
business grew 18% and reported an operating profit as compared to an
operating loss in the year ago period.
In the last fiscal year 9% of total revenue
was generated from outside the United States. Also during that time
period 3 customers represented 24%, 13%, and 11% of total revenue.
Synovis has cash and investments worth $41.8
million or $3.56 per share. Book value is $6.04 and the company carries
no debt. Over the past 3 years the company's book value has more than
doubled. At the current price the stock has a price-to-sales ratio of
1.6 and a low price-to-book ratio of just 1.3.
In the chart below you can see the stock has
recently found support just under $8 on a closing basis as it did in
August and September 2004. (recommended on 6/17/05)
7/16/07-
SOLD AT $14.86 FOR A GAIN OF 91%. DURING THE SAME TIME PERIOD THE
NASDAQ
WAS UP 29%.
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