Nature of business: Provides open-heart surgery equipment,...
SAN DIEGO — Nature of business: Provides open-heart surgery equipment, disposable supplies and technicians to hospitals on a contract basis.
Total employees: 520 In San Diego and Orange counties: 165
Stock listing in The Times: On NASDAQ “Psicor†Ticker symbol: “Pcorâ€
Friday’s stock close: $9.75 One-week change: Up $0.75
Analyst review: “The recent weakness in Psicor’s stock is most likely due to concerns about the impact of the Clinton Administration’s focus on controlling health care costs. But Psicor’s cost-cutting ability is what makes its services attractive to hospitals. Through a cost-effective contract basis, it delivers medical personnel, capital equipment and disposable supplies for open-heart surgery and many related procedures. Psicor has implemented a number of strategies aimed at improving productivity, reducing costs and upgrading its services. These are producing sharp earnings gains and will auger well for strong growth in the years ahead.â€
--Stephen L. Handley, analyst Smith Barney, New York
Dollar amounts in millions
Fiscal year ending Sept. 30 Sept. 30 Sept. 30 two qtrs. 1990 1991 1992 1992 1993 Revenue $61.8 $67.2 $73.2 $35.9 $37.8 Profit $1.7 $3.0 $4.1 $1.9 $2.2
Corporate outlook: “Cost containment is forcing hospitals to scrutinize their payrolls and cut back on equipment and supplies. We can provide technicians and equipment for expensive medical proceedures cheaper than they can. We plan to bolster our sales staff to compete in this complex market. We see ourselves as ideally positioned in a growth industry.â€
--Michael W. Dunaway, founder and CEO
RETURN ON INVESTMENT: 3-YEAR SUMMARY AND YEAR-TO-DATE:
Fiscal year ending Sept. 30 Sept. 30 Sept. 30 two qtrs. 1990 1991 1992 1992 52-week high $14.00 $16.75 $19.13 $19.13 52-week low $ 6.25 $ 6.75 $10.50 $14.25 Book value per share $ 4.63 $5.52 $6.56 $6.88 Price per share $7.75 $14.38 $11.75 $14.25 Net profit per share $0.41 $0.72 $0.93 $0.44 Price-to-earnings ratio 19:1 20:1 13:1 16:1 Avg. return on investor equity 9.1% 13% 14.1% 13.1%
Fiscal year ending two qtrs. 1993 52-week high $16.25 52-week low $ 8.25 Book value per share $ 7.39 Price per share $10.00 Net profit per share $0.50 Price-to-earnings ratio 10:1 Avg. return on investor equity 14%
For information write, Psicor: 16818 Via del Campo Court, San Diego, Calif. 92127. (619) 485-5599
Researched by JANICE L. JONES / Los Angeles Times
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