Saw your posts on 'Market Gems', took a quick look at RXSD and the estimates look great compared to last year. Why is this one so beaten down??|
Aug. 5 press release;
<<Mr. Nast also noted that the Company's stock price experienced a decline yesterday, along with other companies in the vitamin industry. ''We believe that the reason for the decline was related to comments made regarding pricing dynamics in the health food channel of distribution. In our judgment, this event in no way impacts negatively on the growth prospects of the vitamin and nutritional supplement industry or on the basic, inherent strength of Rexall Sundown. Our current and future position as the leader in the vitamin and nutritional supplement industry remains unchanged,'' Mr. Nast concluded.
For the first nine months of fiscal 1998, the Company reported revenues of $377.2 million, an 87% increase over the same period in fiscal 1997. Diluted earnings per share increased 78% to $0.66 per share, based on 73.6 million weighted average common shares outstanding, from $0.37 per share, based on 69.7 million weighted average shares outstanding, in the first nine months of the prior year.>>
Have you picked a buy point, or have you started to nibble waiting for a "sure" reversal to take a big bite. ;-})