OCA: dovremmo esserci

  • Ecco la 72° Edizione del settimanale "Le opportunità di Borsa" dedicato ai consulenti finanziari ed esperti di borsa.

    È stata un’ottava ricca di spunti per i mercati, dapprima con l’esito delle elezioni europee, poi con i dati americani incoraggianti sull’inflazione e la riunione della Fed. L’esito delle urne ha mostrato uno spostamento verso destra del Parlamento europeo, con l’avanzata dei partiti nazionalisti più euroscettici a scapito di liberali e verdi. In Francia, il presidente Macron ha indetto il voto anticipato dopo la vittoria di Le Pen e in Germania i socialdemocratici del cancelliere tedesco Olaf Scholz hanno subito una disfatta record. L’azionario europeo ha scontato molto queste incertezze legate al rischio politico in Francia. Oltreoceano, i principali indici di Wall Street hanno raggiunto nuovi record dopo che mercoledì sera, la Fed ha mantenuto invariati i tassi nel range 5,25-5,50%. I dot plot, le proiezioni dei funzionari sul costo del denaro, stimano ora una sola riduzione quest’anno rispetto a tre previste a marzo. Lo stesso giorno è stato diffuso il report sull’inflazione di maggio, che ha mostrato un rallentamento al 3,3% e un dato core al 3,4%, meglio delle attese.
    Per continuare a leggere visita il link

Scritto da Paolino967
se non sono troppo indiscreto cosa intendi per pesantemente??

ciao

P

4700 pezzi... il gain fatto con EAG.... :eek:
 
Scritto da WorldLove
4700 pezzi... il gain fatto con EAG.... :eek:

:D:D:D:D:D:D:D:D:D:D
non c'e uno senza due:):):)
Se va a 16 con un bel shortsqueze mi offri una cena???:D:D:D
 
Scritto da Paolino967
:D:D:D:D:D:D:D:D:D:D
non c'e uno senza due:):):)
Se va a 16 con un bel shortsqueze mi offri una cena???:D:D:D

Purché non siano OCHE allo spiedo... ;)
 
Scritto da Paolino967
:D:D:D:D:D:D:D:D:D:D
non c'e uno senza due:):):)
Se va a 16 con un bel shortsqueze mi offri una cena???:D:D:D

Se ci va entro un 10gg.. si può fare... :cool:
Speriamo di non fare la fine dei paperi arrosti... però...

Mah... ogni tanto sono leggermente avventato... con EAG mi è andata bene... staremo a vedere con OCA...
 
8,79... mmmhh... si sta muovendo meglio oggi...
 
ma a dirla tutta, se c'era qualcosa sotto mi sarei aspettato che la portassero su per poi sgozzarla per bene sulla trimestrale...
succede spesso cosi...
questa tranquillita' potrebbe confermare che i numeri sono OK, tutto il flottante e' in mani salde,,,,,
e che forse qualche signore si potrebbe decidere a chiudere i rubinetti per un po' cosicche i venditori sarebbero solo gli short,,,,
nel tentativo di evitare incrementi nel prezzo....
comunque se dovesse cambiare qualcosa ,,,,penso che la prima cosa da controllare siano i volumi,,,,,
buoni supporti la MM50 a circa 8,4 e la 200 sugli 8$....
potrebbe scendere domani e non poco ma sotto gli 8$ non ce la vedo....se non per poche ore,,,,
naturalmebte sono ipotesi la lei e sempre li.....
 
Intuizione: la trimestrale è assai buona...... domani l'oca apre le ali..... :eek:
 
Orthodontic Centers of America Announces Third Quarter Results....

METAIRIE, La., Nov 12, 2003 (BUSINESS WIRE) -- Orthodontic Centers of America, Inc. (NYSE: OCA) today announced its financial results for the third quarter and nine months ended September 30, 2003.

Bart F. Palmisano, Sr., the Company's Chief Executive Officer, commented, "We were successful in achieving our prior earnings guidance for the third quarter of 2003. While our operating results were adversely affected by lost revenue from some OrthAlliance practices, we are focused on increasing the Company's long-term earnings power and cash flow by investing internally. We are committing time and effort to successfully pursue markets for business services outside of traditional orthodontics and pediatric dentistry. In addition, there are encouraging signs that our international subsidiaries, particularly OCA Japan, are gaining traction and reporting favorable revenue growth. Furthermore, we are seeing increased interest among young associate orthodontic specialists in joining our affiliated practices, with eight added this past quarter alone. We are also pleased with our new litigation counsel, McClanahan and Clearman, L.L.P., a prominent plaintiff's counsel based in Houston, Texas, and their plans to aggressively pursue compensation from practices that are litigating with us. We are confident about our future and the market potential for our services."

For the third quarter of 2003, fee revenue was $92.7 million. Net income for the third quarter of 2003 totaled $11.9 million, or $0.24 per diluted share - down from the previous year's comparable results. During the quarter, the Company recorded asset impairments of approximately $767,000 ($477,000, net of income tax benefit), resulting in an after-tax reduction of $0.01 in net income per diluted share.


During the third quarter of 2003, the Company:

-- added 17 centers (11 domestically and six internationally),
bringing the total center additions to 42 during the first
three quarters of 2003;

-- settled three lawsuits with OrthAlliance affiliated practices,
with one practice buying out its contract, one practice
transitioning to another affiliated practice and one practice
resuming its active affiliation with the Company;

-- repaid $4.9 million of its debt; and

-- repurchased 100,000 shares of its common stock in the open
market at a weighted average price per share of $7.72.

For the nine months ended September 30, 2003, fee revenue was $293.6 million. Net income for the nine months ended September 30, 2003, totaled $40.2 million, or $0.80 per diluted share, compared with $49.5 million, or $0.95 per diluted share, for the nine months ended September 30, 2002.

Fee revenue for the three and nine months ended September 30, 2003, was negatively affected by a net decrease in the number of affiliated practices for which the Company recorded fee revenue, including a net decrease of ten practices for which the Company was recording fee revenue during the third quarter of 2003. The Company was recording fee revenue for 327 affiliated practices as of September 30, 2003, compared with 355 affiliated practices as of September 30, 2002, representing a net reduction of 28 affiliated practices for which the Company was recording fee revenue as of September 30, 2003.

The Company has scheduled a conference call on Thursday, November 13, 2003, at 10:00 a.m. (Eastern Time) to discuss its third quarter financial results. The following are the call-in details:


Event: Third Quarter 2003 Earnings Conference Call
Date: Thursday, November 13, 2003
Time: 10:00 a.m. (Eastern Time)
Phone Access: (212) 231-6012

You may listen to the call through the Internet by logging onto the First Call Events (www.firstcallevents.com) website. A telephonic replay of the call may be accessed by dialing 1-800-633-8284 and entering access code 21166030. The telephonic replay will be available from 12:00 noon Eastern Time on Thursday, November 13, 2003, until 6:00 p.m. on Friday, November 14, 2003. The conference call will also be available through the Company's website at www.4braces.com or at www.firstcallevents.com/service/ajwz389571061gf12.html. A 30-day online replay will be available approximately two hours following the conclusion of the live broadcast.

Orthodontic Centers of America, Inc., founded in 1985, is the leading provider of business services to orthodontists and pediatric dentists. As of September 30, 2003, the Company's affiliated practices provided treatment to over 489,000 patients in 363 affiliated practices throughout the United States and in Japan, Mexico, Spain and Puerto Rico. For additional information on Orthodontic Centers of America, Inc., visit the Company's web site at www.4braces.com.

ORTHODONTIC CENTERS OF AMERICA, INC.
UNAUDITED FINANCIAL HIGHLIGHTS AND SELECTED OPERATING STATISTICS
(Dollars in thousands)

Three Months Ended
September 30,
Percent
2003 2002 Change
--------- --------- --------
Total new patient contract
balances (1)(2) $178,986 $226,467 (21.0)%
Patient interval days (3) 45.9 46.0 (0.2)%
Affiliated practices at period end 363 377 (3.7)%
Comparable center fee
revenue growth (4) 8.3% 16.6% N/A
Comparable mature center
fee revenue growth (5) 6.4% 12.1% N/A

Patient count activity at
affiliated practices: (2)
Number of patients under
treatment - beginning of period 509,720 515,339 (1.1)%
New patient cases (6) 56,051 69,447 (19.3)%
Patients of newly
affiliated practices -- -- N/A
Patients who completed treatment (38,968) (29,306) 33.0%
Patients who discontinued treatment (14,969) (13,958) 7.2%
Patients of deaffiliated, litigating,
and non-fee paying practices (7) (22,213) -- N/A
--------- --------- --------
Number of patients under
treatment - end of period 489,621 541,522 (9.6)%
========= ========= ========

Nine Months Ended
September 30,
Percent
2003 2002 Change
--------- --------- --------
Total new patient contract
balances (1)(2) $527,899 $608,505 (13.2)%
Patient interval days (3) N/A N/A N/A
Affiliated practices at period end 363 377 (3.7)%
Comparable center fee
revenue growth (4) 10.2% 22.6% N/A
Comparable mature center
fee revenue growth (5) 7.8% 11.0% N/A

Patient count activity at
affiliated practices: (2)
Number of patients under
treatment - beginning of period 544,158 484,025 12.4%
New patient cases (6) 160,633 187,907 (14.5)%
Patients of newly
affiliated practices -- 1,363 N/A
Patients who completed treatment (118,604) (97,791) 21.3%
Patients who discontinued treatment (45,108) (33,982) 32.7%
Patients of deaffiliated, litigating,
and non-fee paying practices (7) (51,458) -- N/A
--------- --------- --------
Number of patients under
treatment - end of period 489,621 541,522 (9.6)%
========= ========= ========
---------

(1) Amounts represent the total treatment fees under patient
contracts initiated by affiliated practices during the periods
presented.
(2) The patient statistics include patients under treatment at
affiliated pediatric dental practices, in addition to affiliated
orthodontic practices. As of September 30, 2003, approximately
48,000 patients were under treatment at affiliated pediatric
dental practices compared with approximately 49,000 patients as
of September 30, 2002. The Company was affiliated with 28
pediatric dental practices as of September 30, 2003 and 2002.
(3) Amounts represent the average number of days between patients'
visits to affiliated practices for treatment.
(4) Amounts represent the growth in fee revenue in the indicated
period relative to the comparable prior-year period by centers
that were affiliated with the Company throughout each of the two
periods being compared.
(5) Amounts represent the comparable center fee revenue growth only
for centers affiliated with the Company for at least 26 months.
(6) Amounts represent the number of patients who began treatment by
the Company's affiliated practices during the periods presented.
(7) Amounts represent the number of patients at practices that bought
out of their service agreements or for which the Company is
no longer generally recording fee revenue.


ORTHODONTIC CENTERS OF AMERICA, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)

Three Months Ended Nine Months Ended
September 30, September 30,
-------------------- --------------------
2003 2002 2003 2002
--------- --------- --------- ---------
Fee revenue $92,730 $112,738 $293,583 $337,493
Direct expenses:
Employee costs 26,292 31,068 85,164 94,973
Orthodontic supplies 9,734 10,286 30,057 29,414
Rent 7,263 9,755 26,266 29,894
Marketing and advertising 5,500 9,129 18,919 26,042
--------- --------- --------- ---------
Total direct expenses 48,789 60,238 160,406 180,323
General and administrative 16,479 13,810 43,657 42,984
Depreciation 3,805 2,991 10,799 8,899
Amortization 2,575 2,422 7,789 7,808
Asset impairments 767 909 2,582 909
Non-recurring recruiting
expense -- -- -- 12,772
--------- --------- --------- ---------
Operating profit 20,315 32,368 68,350 83,798
Interest expense, net (1,193) (2,070) (3,742) (4,413)
Non-controlling interest
in subsidiary 4 14 (25) 45
--------- --------- --------- ---------
Income before
income taxes 19,126 30,312 64,583 79,430
Income taxes 7,221 11,443 24,381 29,985
--------- --------- --------- ---------
Net income $11,905 $18,869 $40,202 $49,445
========= ========= ========= =========
Net income per share:
Basic $0.24 $0.37 $0.80 $0.96
========= ========= ========= =========
Diluted $0.24 $0.37 $0.80 $0.95
========= ========= ========= =========
Weighted average
shares outstanding:
Basic 50,206 51,229 50,208 51,317
========= ========= ========= =========
Diluted 50,483 51,547 50,504 51,884
========= ========= ========= =========

UNAUDITED CASH FLOW HIGHLIGHTS
(In thousands)

Three Months Ended Nine Months Ended
September 30, September 30,
-------------------- --------------------
2003 2002 2003 2002
--------- --------- --------- ---------
Net cash provided by
operating activities $10,491 $21,143 $38,004 $49,137
Net cash used in
investing activities (7,029) (7,836) (19,535) (25,512)
--------- --------- --------- ---------
Free cash flow (1) 3,462 13,307 18,469 23,625
Net cash used in
financing activities (6,267) (15,775) (16,437) (25,657)
Change in cash and
cash equivalents $(1,647) $(1,829) $2,846 $(3,176)
---------

(1) Amounts represent net cash provided by operating activities minus
net cash used in investing activities for the period presented,
which are disclosed immediately above. The Company has included
free cash flow because management believes that investors place
importance on that statistic and that the statistic is important
in understanding the cash flow generated by Company operations.


ORTHODONTIC CENTERS OF AMERICA, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share data)

Sept. 30, Dec. 31,
2003 2002
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $10,368 $7,522
Current portion of service fees receivable,
net of allowance for uncollectible amounts
of $7,722 at September 30, 2003, and
$5,095 at December 31, 2002 95,410 63,448
Current portion of advances to affiliated
practices, net of allowance for uncollectible
amounts of $3,482 at September 30, 2003, and
$2,406 at December 31, 2002 11,319 14,857
Deferred income tax 30,488 37,572
Supplies inventory 11,537 12,526
Prepaid expenses and other assets 4,855 7,439
--------- ---------
Total current assets 163,977 143,364
Unreimbursed expense portion of
service fees receivable 49,766 43,070
Advances to affiliated practices,
less current portion, net 16,978 15,687
Property, equipment and improvements, net 91,251 90,060
Intangible assets, net 213,027 220,383
Goodwill 87,641 87,641
Other assets 14,042 7,040
--------- ---------

TOTAL ASSETS $636,682 $607,245
========= =========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $4,862 $8,048
Accrued salaries and other accrued liabilities 15,406 20,620
Deferred revenue 418 713
Service fee prepayments 1,003 7,743
Current portion of notes payable
to affiliated practices 2,785 8,387
Current portion of long-term debt 8,333 8,333
--------- ---------
Total current liabilities 32,807 53,844
Deferred income tax liability 25,860 8,030
Notes payable to affiliated practices,
less current portion 4,156 4,612
Long-term debt, less current portion 90,017 97,899

Shareholders' equity:
Preferred stock, $.01 par value: 10,000,000
shares authorized; no shares outstanding -- --
Common stock, $.01 par value: 100,000,000
shares authorized; approximately 51,340,000
shares issued and outstanding at
September 30, 2003, and 51,268,000 shares
at December 31, 2002 513 512
Additional paid-in capital 218,530 217,840
Retained earnings 281,115 240,911
Accumulated other comprehensive loss (562) (1,376)
Less cost of approximately 1,193,000 shares
of treasury stock at September 30, 2003 and
1,097,000 at December 31, 2002 (15,754) (15,027)
--------- ---------
Total shareholders' equity 483,842 442,860
--------- ---------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $636,682 $607,245
========= =========

SOURCE: Orthodontic Centers of America, Inc.
 
mi aspettavo 26-27 cents invece ne hanno fatti solo 24...
riducono il debito,,,un po di buyback,,,il numero dei centri e' diminuito del 3,7% in un anno,,,,
comunque continuano a fare soldi,,,
sono net earning....cioe' tasse gia pagate...
quest'anno faranno circa 53 milioni di $ netti,,,
vediamo come evolve oggi,,,,,,

P
 
Ho fatto due conticini.... corretti

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A 8,70.. ha

un p/e di circa 9.... considerando gli earnings trimestrali
un p/e di circa 8,2.... considerando gli earnings di 9 mesi

Considerando l'estate calda il momento economico etc. etc... non mi sembra così male....

Credo comunque che oggi scenderà ed io mi trasformerò in un cassettista per forza... :(
 
:cool: Per i prossimi tre anni mi toccherà tenermi ste OCHE....
 
Corretta la tebella sopra...

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Altra tabella...

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A Sx trimestre primavera, a DX trimestre estivo...

Non è stata una buona estate.... colpa delle litigate?!
 

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Qui è ancora più chiaro....

Cmq... non è neppure un disastro...
 

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Re: Qui è ancora più chiaro....

Va be'... è chiaro che x gli shorters ogni pretesto è buono x impallinarla.

Titolo da acssetto? E sia! Qualcosa nel cassetto ci vuole anche sul Nasdaq.

La compagnia fa utili, è sana, eccetera... non mi preoccupo.

laz
 
Sembra che sotto gli 8 non ci vada... se fossi un shorter approfitterei di questo momento per ricoprirmi...
 
non riesco a comprare sul prezzo

Io sono in acquisto da 20 minuti,,,,
siamo sulla MM200,,,
ma non me le danno.,,,,,??????????
idea sui volumi......quanti hanno venduto,.,,,,????
le briciole di flottante....
 
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