BlueStone Capital Partners Announces Investment Opinion on CLZR.NEW YORK--(BUSINESS WIRE)--Sept. 14, 1999-- Senior Analyst Scott Baily at BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital reiterates his STRONG BUY recommendation on Candela candela (kăndĕ`lə), in weights and measures: see candle. A unit of measurement of the intensity of light. Part of the SI system of measurement, one candela (cd) is the monochromatic radiation of 540THz with a radiant intensity Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLZR $11 9/16) after better than expected 4Q and FY99 results and strong product growth. Analyst's Summary - By almost any measure CLZR's 4Q and FY99 results were impressive as the company's performance was driven by strong growth of its main products, the GentleLASE & ScleroPLUS ScleroPLUS™ Dermatology A laser for treating spider angiomata, port wine stains, and other vascular malformations , and gross margin improvements up to the 60.0% level. With CLZR's shares selling at $11 9/16, or 8.9x and 7.2x our revised EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimates of FY00 and FY01 $1.30 & $1.60 (tax rate of 35%), we are reiterating our STRONG BUY on the stock. Our 12 month price target remains unchanged at $20-$25. - Given CLZR's continued excellent growth over the last several quarters, we are raising our FY00 and FY01 revenue estimates to $70.0 million and $82.0 million, up from our previous estimates of $67.0 million and $77.5 million. We are also increasing our EPS estimates for FY00 and FY01 to $1.30 and $1.60 (assuming a tax rate of 35%), respectively, up from our earlier EPS estimates of $1.10 and $1.35. - CLZR continued its string of record results as it reported revenues for the 4Q & FY99 revenues increased to $18.7 million & $58.6 million, up from $12.1 million & $37.0 million for the same periods last year, for gains 55% and 58.4%. Our revenue estimates for 4Q & FY99 were $17.0 million & 56.8 million. For the 4Q & FY99 EPS rose to $0.50 per share & $1.22 per share from $0.19 per share and a loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $0.33 last year. The 4Q and FY99 EPS results were much higher than our estimate of $0.35 because CLZR took advantage of a deferred tax asset that benefited 4Q & FY99 results by $0.15 and $0.17, respectively. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to emerging growth and medium size companies worldwide. BlueStone Capital assists Clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
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