In our 6/5/2013 email to premium members, we mentioned that we were adding GeoBargain on the Radar (GBR) Unilens Vision (PINK:UVIC) to our Tier One Pink Screen at $3.40. We disclosed our long position on 6/17/2013 due to bullish commentary from management related to new growth initiatives.
On 2/14/2014, UVIC reported second quarter 2014 results. Both revenue and EPS were basically flat compared to 2013 results. However, management’s comments continue to point toward the company being on the doorsteps of revenue and EPS growth. Management stated:
“We are very encouraged by certain ‘leading indicators’ that suggest we are approaching a turnaround in our financial performance and a resumption in revenue and earnings growth”
“In particular, we are pleased to report that royalty income increased during the second quarter, for the first time in the past six quarters. In addition, our branded lens sales increased for the third consecutive quarter, following an extended period of lower sales during the past several years.”
“The demand for effective multi-focal vision-correction products that can address the challenges of presbyopia should continue to increase well into the next decade with the aging of America’s ‘baby boom’ generation, and our goal is to enhance shareholder value by capturing a larger share of this market.”
We coded UVIC as a GeoBargain on the Radar (GBR) at $5.50 and will attempt to set up an interview with management.