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Every once and a while something crosses my desk that is not a pump
and dump but a long term play. That something is Bovie Medical
Corporation [BOVI.OB].That something was their annual report.I own
this stock at higher prices for a year and add to it at times with
profits from other situations
Here are extracts from its most recent annual report.
1. Bovi attained its 5th consecutive year of record revenues as well
as establishing a new line of Bovi electrosurgical products.
2. Revenues increased 18% to a record $11.5 million from the prior
year resulting in net income of $.06 per share.
3. The Company private labels and markets electrosurgical devices.
4. Progress has been made on the development of an innovative
patented electrosurgical technology that uses inert gases to affect
precise surgical procedures.
5. Bovie has completed the repurchase of over 2,000,000 shares of
stock representing 13% of outstanding shares which reflects
management's confidence in the future.
At current prices the stock trades for under $1.00 per share at about
a 12 X PE ratio.
Do not expect overnight riches. To me this is a buy and put in the
drawer type play for a nominal amount of money. By all means do your
own due diligence.
But in this crazy market,over the long haul value will win out.
Sincerely,
John
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