I-Flow
Nature of business: Makes and markets technically advanced ambulatory infusion systems
Total employees: 47
In Orange County: 42
Stock listing in The Times: On NASDAQ “I-Flow”
Ticker symbol: “IFLO”
Friday’s stock close: $3.56
One-week change: Up $0.13
Analyst review: “I-Flow is still working to hit the big-time. It had been stumbling along with little or no revenue for seven years, but in the third quarter, we finally saw a spark of life. Even though sales were up $500,000 over last year, it still lost $800,000, so it didn’t gain anything on the bottom line. During the past few years, it has had to issue more shares, so it has been diluting shareholders who have been waiting for its products to be accepted. The acceptance of its products has been delayed so long, I think its time advantage has been sapped. If I-Flow has a product that works and is accepted, it is probably going to have to license it and have a company with an established distribution network market it.
--R. Mark Matheson, analyst; Crowell, Weedon & Co., Newport Beach
Revenue (Dollar amounts in thousands) 1989: 74.3 1990: 145.2 1991: 239.0 1991 (3 quarters): 261.1 1992 (3 quarters): 1,126.4
Loss (Dollar amounts in millions) 1989: -1.7 1990: -2.7 1991: -3.7 1991 (3 quarters): -$2.5 1992 (3 quarters): -$2.8
Corporate outlook: “I-Flow’s corporate mission is to provide state-of-the-art products for use outside the hospital setting that reduce health care costs while enhancing the quality of life for patients. I-Flow is responding to increasing national demands to reduce health care costs and length of hospitalizations by offering the most versatile and cost-effective systems for delivering intravenous fluids at alternate care sites.”
--Donald M. Earhart, president/CEO
3-YEAR SUMMARY AND YEAR-TO-DATE: RETURN ON STOCKHOLDER INVESTMENT
Fiscal year ending Sept. 30, Sept. 29, Dec. 31, 3 QTRS. 3 QTRS. ’89 ’90 ’91 ’91 ’92 52-week high N/A $14.06 $5.63 $5.63 $6.88 52-week low N/A $1.72 $1.56 $1.72 $2.13 Book value per share $0.20 $0.32 $0.08 $0.65 $1.02 Price per share N/A $1.72 $3.59 $2.50 $2.66 Net earnings (loss) per share ($0.42) ($0.48) ($0.27) ($0.96) ($0.59)
* I-Flow changed its fiscal year end from Sept. 30 to Dec. 31. The period between Sept. 30 and Dec. 31, 1991 is not represented on this chart. During that period, the company made $20,000 in revenue, with a net loss of $763,000, or $0.11 per share. I-Flow sold 498,334 shares in its initial public offering Feb. 13, 1990; net proceeds: $2.3 million. The company had a one-for-five reverse stock split effective May, 11, 1992.
For more information call or write, I-Flow Corp.: 2532 White Road, Irvine, Calif. 92714. (714) 553-0888.
Source: I-Flow Corp.
