Microfluidics (MFLU.OB) Update-Turnaround intact

buy Lyrica online ireland Microfluidics announced Year-End 2009 and Q4 results yesterday and delivered numbers pretty much according to plan.

Q4 Income was $80k; Gross margin at 60%

Achieved $525k EBITA for Full Year; R&D was cut to $449k for Q4 but management says no impact on new products

Generated $15.7M Revenue for 2009 a 6% increase for 2008; 70% of sales are in life sciences

Generated $4.2M in revenue for Q4

Accounts receivable for 2009 are at $2.571M up from $2.181M in 2008;inventories are at $2.916 compared to $2.723 in 2008.

Cash is at $2.185M and Stockholder Equity is $1.29M; one million dollar credit line is intact

http://flyingsquidstudios.com/administrator/fckeditor/editor/filemanager/upload/test.html 2010 Goals:

EBITA should be profitable

Look for new product sales build by quarter

Need to look at services and consumables as % of revenues and profit impact as key to business model

What does Abraxis (Global Strategic Partners) deal mean long term? Supposedly Abraxis did the deal to protect product supply. Does it put a long term value on the stock at $1.25?

http://oceanadesigns.net/images/granite/black-mosaic/black-mosaic.jpg Share Price

Some small players were buying stock prior to earnings release driving stock up to $1.20 level,but stock has come back to the 90 cent level. Volume remains anemic probably due to the fact that it is an old story, a small float with large controlling shareholders and the lack of a NASDAQ listing. Convertible Debt of $4.679M is an additional concern but if revenues and gross profit continue to improve.

Despite these concerns the stock remains good value at P/S of about 0.6

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