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clock Created with Sketch. 01/11/17
15:44
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Originally posted by Fordy23
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Another email reply from Wayne whose comments are in red: Hi Wayne,I dont actually read HC as it represents less than 5% of our base. Whilst there are a few well informed posters (most of whom write to me) many of them are uniformed in the day to day runnings of a global health care business. The upside in the stock is significant - remembering we have just come out of a major restructure and achieved 110% increase in profit, 58% increase in revenues , and 25 % decrease in costs in our FY report. In my entire career I have never seen numbers like that ! Not withstanding that we just lodged 2 US patents for our TAVR device which will compete in a 5 billion market (and that is only one of several projects we are working on) This is a health care stock that was on life support a year ago - the sad reality is that we would be in the 2-3 cent range without the restructure. The move in the US is not report quarterly results as they are not a good marker of the overall business (yearly results are a much better measurement). Sales are in fact matching the talk though with the US up 33% in ADAPT sales this quarter - we did suffer from a very soft EU sales effort (which I mentioned in my last webinar). Commercializing health care products is a function of time and resources - as I am balancing both sides of the equation I still need to ramp up the US and EU sales team cautiously. The traction is there - and its not a random process we know which accounts we have , which ones we dont and how to change the balance. We still have small market share in general terms , as we have a small sales team , but this is changing consistently month on month as the numbers have demonstrated. I understand and since I had to step in from the Chairmans role to fix our problems I have been very open with the market as to our progress. In fact we have delivered on every commitment we made - this company will be profitable as projected by Q4 2018. Its actually a good report for a business that is coming out of a restructure. Europe is weak (but we understand why and are working to fix this) and that put a drag on the overall business which was generally very positive. Our projects are advancing as planned and underlying fundamentals are in good shape.
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Nice tough questions you have thrown at WP though what WP said "This is a health care stock that was on life support a year ago - the sad reality is that we would be in the 2-3 cent range without the restructure" the stock price is already trading at 2 cents prior to consolidation.
(20min delay)