SNCI - (recommended to subscribers on 3/02/03 at
$2.60)
On
January 27th Sonic Innovations, Inc., a maker of digital hearing aids,
reported revenue of $17.2 million for the 4th quarter 2002 which was up
14% over the prior year's quarter. SNCI had a net loss of
$109,000
or 1 cent a share which was better than the 2001 4th quarter net loss
of
$1 million. Gross margins were 53% and were up from the 47% in
the
4th quarter 2001. SNCI expects revenues of $76 million in 2003
and
to be profitable. SNCI has $35.6 million in cash and securities
which
comes out to $1.80 per share. They have an insignificant $102,000 of
debt.
SNCI has a book value of $2.33 per share which is just below the
current
price. With a current market cap of $51.5 million the stock
trades
under 1x sales.
UPDATE 8/22/03 - Recommend selling on Monday
8/25/03.
At the current price of $6.07 you would get a return
of 133%.
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