J.M. Dutton & Associates Announces Investment Opinion: Calypte Biomedical Rating Maintained At Neutral By Dutton & Associates
Thursday July 8, 12:00 pm ET
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--July 8, 2004--J.M. Dutton & Associates continues coverage of Calypte Biomedical (OTCBB:CYPT - News) with a neutral rating. The 9-page report by J.M. Dutton senior analyst Sherry Grisewood, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Multex, and other leading financial portals.
Calypte Biomedical has taken a series of significant steps over the past six months that have resulted in the addition of highly respected senior management, substantial reduction in the toxic debt on its balance sheet, improvement in its overall financial condition and early signs of stabilization of product revenues. Furthermore, in the past few months the Company has moved ahead on its strategic plan for the commercialization of its rapid HIV detection tests in international markets and appears to be making progress in implementing its plan to have commercial rapid tests for sale in selected markets. These are among a number of critical elements the Company needs to become positioned for a viable future. We are encouraged by the progress the Company has made in recent months. However, we believe several additional steps need to be taken before investors will put the Company on a footing equal to its peers. These steps include a successful transition of its manufacturing to its Maryland facility, further signs of sales stabilization in its core products -- including producing a manufacturing profit (gross margin) on sales -- and steady, timely progress on the commercialization of its rapid test products. Therefore, we are maintaining our Neutral rating.
Thursday July 8, 12:00 pm ET
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--July 8, 2004--J.M. Dutton & Associates continues coverage of Calypte Biomedical (OTCBB:CYPT - News) with a neutral rating. The 9-page report by J.M. Dutton senior analyst Sherry Grisewood, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Multex, and other leading financial portals.
Calypte Biomedical has taken a series of significant steps over the past six months that have resulted in the addition of highly respected senior management, substantial reduction in the toxic debt on its balance sheet, improvement in its overall financial condition and early signs of stabilization of product revenues. Furthermore, in the past few months the Company has moved ahead on its strategic plan for the commercialization of its rapid HIV detection tests in international markets and appears to be making progress in implementing its plan to have commercial rapid tests for sale in selected markets. These are among a number of critical elements the Company needs to become positioned for a viable future. We are encouraged by the progress the Company has made in recent months. However, we believe several additional steps need to be taken before investors will put the Company on a footing equal to its peers. These steps include a successful transition of its manufacturing to its Maryland facility, further signs of sales stabilization in its core products -- including producing a manufacturing profit (gross margin) on sales -- and steady, timely progress on the commercialization of its rapid test products. Therefore, we are maintaining our Neutral rating.