International Medical Devices Share Discussion Threads

[james t kirk] 23/5/2008 09:39

Thanks cyberpost, very encouraging indeed..

[cyberpost] 23/5/2008 09:32

ged5, yes via email.

[ged5] 23/5/2008 09:24

LOL,

It's the Monaco grand prix. On the radio this morning they were talking about the size of the yachts down there. Perhaps there's been so many orders they've made a fortune and all bought themselves one. :)

[pomp circumstance] 23/5/2008 09:19

at least france has an extradition treaty!! ;)

[ged5] 23/5/2008 09:15

Thanks cyberpost,

I was beginning to get worried. I presume you contacted by e-mail since I've been ringing all morning. I had to leave messages on the answer machine until someone who doesn't work for INT eventually answered the phone. All he could do was put me through to someone's voicemail.

Perhaps they're all down in the south of France!

[cyberpost] 23/5/2008 09:02

yes..there is enough in that response to suggest results will be fine.

[pomp circumstance] 23/5/2008 08:59

sounds promising!

[cyberpost] 23/5/2008 08:57

just got this reply from Mike Acheson (FD)



Thanks for contacting us. The results will not be announced today, for two reasons. Firstly we have a new broker (Shore Capital) and they are finalising their research note (including broker forecasts), which we want to have issued at the same time as the Interims. Secondly, the Chairman did not realise this is a public holiday weekend. Companies which announce results at a time when many people are away from their desks on long weekends, often do it for a reason. We did not wish to leave that impression, as we wish the market to see and read about our activities.

So interim results will be out on Tuesday or Wednesday (depending on completion of the broker note).


Kind regards,

Mike

Finance Director

[james t kirk] 23/5/2008 07:58

Strangely the mm's have marked up share price very slightly, so hopefully good news is immenent.

[martincoops] 23/5/2008 07:08

Um, did they forget that their results were due today....well I was hoping that they would be out first thing.

[martincoops] 23/5/2008 06:03

Just for fun this was britishbulls advice yesterday evening

International Medical Devices PLC
Daily Commentary


Our system posted a BUY CONFIRMED today. The previous SELL recommendation was made on 03.03.2008 (80) days ago, when the stock price was 2.2300. Since then INT has fallen -35.87% .

[james t kirk] 22/5/2008 16:04

Makes a change!

[ged5] 22/5/2008 10:02

Pomp,

I think jotoha had a genuine grievance against Chris Thomas. He warned us of one company that failed under him and we had the announcement the other day about another company that looks like failing under him.

I see it as a positive that he's parted company with INT.

I hope the results tomorrow put an end to the constant fall of the share price As I said before I'm more interested in seeing sales in Surety and increased profitability.

Any corporate action is a bonus.

[pomp circumstance] 22/5/2008 06:05

You can forget your scare mongering.
Thomas is long gone

Bill McGrath who joined the Company and was appointed as Chief Operating Officer
on November 2nd 2007, has today been appointed Chief Executive Officer. Bill
will also continue in the role of Chief Operating Officer.

Bill has had a significant impact on the Company since he joined and replaces
Chris Thomas in the role of Chief Executive Officer.

Chris joined the Board as a non-executive director in September 2004, prior to
the company's admittance to AIM in November 2004, and became CEO from April
2005.

Chris has a history of business start-ups in the UK and France and is leaving
the Company to pursue other projects. He has resigned by mutual consent and
intends to fully support the Board of IMD in its direction in the future.

Lindsay Sanford, Executive Chairman of IMD commented, "We are sorry to lose
Chris, and the Board wishes to recognise the effort that Chris has put into
building IMD over the past three years and we wish him every success for the
future."

[jotoha1] 21/5/2008 20:52

Ged, thanks for that, Thomas I belief is a profesional stooge, he is put into ailing companies to tell lies about better times ahead etc which allows insiders to dump stock on the unsuspecting and the company then fails, check out his working life ,utter failure everywhere....its a scandal and the city should not allow these spivs into public listed companies! back to the footy now!

[nils214] 21/5/2008 17:39

ok, I took it that you meant there would be no more bolt-on acquisitions, but you are merely referring to smaller companies. I guess at the end of the day any deals will be done if the price is right and the profits are good and rising. One thing about the 1mill valuation companies, I wouldn't actually expect there to be too many of them around and if there are some they would probably be small regional ones and INT would be looking for national distributors imho

[pomp circumstance] 21/5/2008 11:41

I spoke with a director of the company, who said the million pound companies were too small now. Which i took to mean they were looknig at bigger companies.
Problem is that with the share price where it is anything a bit or more bigger than a million would be a merger or even a reverse.
However with a shareprice of say 5p, it would give plenty of scope for the acquisition of 4 or 5 million pound companies.

Indeed when the results came out 6 months ago the share price was 4p, the Mkt Cap was 12mil, so a 4 or 5million pound acquisition was probabbly well within their sights!

[nils214] 21/5/2008 11:21

PC - ref post 685 - Where do you get the info that further 1mill bolt-on acquistions are not being considered. I just re-read the accounts, it clearly says that they are considering further acquisitions and are negotiating financing of such acquisitions. (see page 5)

Buy and Build Strategy
The past six months have seen the Company focus
cost reduction and the refocusing of the Devices
Group continues to seek further growth opportunities,
working with various financial institutions who are
to achieve our growth ambitions, and currently we
a number of potential targets for acquisition.

[nils214] 21/5/2008 11:11

just taking a look at the balance sheet for the last results upto 31.08.07. Somethings which I believe might be dragging the share price back are the amount of goodwill and other intangible assets in the balance sheet. This equates to 23.2 million. Also the liabilities stand at 9 mill. At the end of the day they are making 5% net profit on t/o, and the t/o is not expected to increase by much in the next few years, so the only possibility to significantly increase profitability is by cutting costs. This might come about as the new businesses are integrated and as borrowings are paid off...but it wont be significant in my opinion.

Assets
Non-current assets
Goodwill 7 14,165 8,674 - -
Other intangible assets 7 9,078 8,479 8,636 8,001
Property, plant and equipment 8 311 233 30 -
Investments in subsidiaries - - 14,107 8,494
23,554 17,386 22,773 16,495
Current assets
Inventories 10 2,471 1,719 - -
Trade receivables 2,055 1,276 - -
Other receivables 364 290 152 -
Intercompany loan - - 442 188
Cash and cash equivalents 463 706 468 175
5,353 3,991 1,062 363
Total assets 28,907 21,377 23,835 16,858

[nils214] 21/5/2008 10:48

very little action ahead of the results...would have thought they might have moved a bit more dramatically one way of the other as rumours circulate concerning results. Seems that brokers' forecasts are all that we have to go on.

[nils214] 21/5/2008 10:47

PC, please read your own messages before you post them on the board. your your msitkeas mak it pianfull too reed your posts and extract any sensibubble info you mite have :-))))))))))

[pomp circumstance] 21/5/2008 07:19

martin , the comments about their strategy going forward leads me to believe some corporate action could be on the way. It was said that million pound bolt-on acquisitions are not in view any more. This could be the reason for the change of broker, as they have something bigger in mind! I just hope they can do whagt ever they plan to at a higher share price than we currently have.
Im still convinced the share price is under pressure from legacy shareholders who are just taking what they can out as they mo longer have an interest in what happens are are a professional investment unit!

[pomp circumstance] 21/5/2008 07:15

Having spoken to the company its easy to understand why the NHS is so inefficient.
When you get NHS approval, your product goes in a catalogue, you then have to send your salesmen to the 800 ( or is it 200, cant rad my writing) hospitals and sell the product to them individually.
I can understand this with skilled tools, like scalpels where surgeons have their preferred type, but needles?
This should be something that the NHS approves and goes straight into every hospital

[cesc diamond] 21/5/2008 07:00

This company could be a star performer over the rest of the year imo.
I'm going to buy 200k today as an investment.
I invested in MDY many years ago on their syringe, and have been waiting for a similar one to be approved...with hopefully more success.