Huge momentum in the weekly momentun bars and a sharp climb heading to the centerline breakout area in the weekly chart also. Momemtum in the daily is holding, the only weakness would be the CMF which is stable ~
We clearly caught the bottom here, and everything looks up, just look atthose "steps" in the WEEKLY chart and you'll see.
Looks like we ran into some of the "holiday effect" which AFTER Christmas should launch us, we are at the centerline where breakouts happen, had one pop, but I think we'll be seeing another soon enough IMO
Cause Like I said, we are only at the "start" of that upward trend clearly seen in the WEEKLY chart, momentum bard still growing!
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
| IP: Logged |
posted
If you check the charts on any stock, right before a big break they have a small volume day like this...
This is setting up for a run again IMO ~ The ASK is stuck at .037, peeps are holding, -no volume and we already have a HOD at .037 current price .032 UP 3+ %.
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
| IP: Logged |
"Did the market get up on the wrong side of the bed?"
I do hope the .03 level holds or it will have to cycle yet again...
I almost wish I couls say let's bail, but momemtum on the Weekly chart is still growing, we have a new support at .03 instead of the old .025 CMOney Flow is at neutral now out of the negative and the PPO indicator overal is still going up and we are making higher lows each major dip...
Avitar Reports Fourth Quarter and Fiscal Year 2006 Financial Results Friday December 29, 1:00 pm ET
CANTON, Mass., Dec. 29 /PRNewswire-FirstCall/ -- Avitar, Inc. (OTC Bulletin Board: AVTI - News) has released its financial results for the three and twelve months ended September 30, 2006. ADVERTISEMENT
For the year ended September 30, 2006, Avitar reported revenues of $4,925,000 from continuing operations, compared with $4,509,000 from continuing operations for the year ended September 30, 2005. The net loss was $3,703,000, or $0.80 a share, for the year ended September 30, 2006, compared with a net loss of $2,433,000, or $1.53 a share for the year ended September 30, 2005. The change in net loss for Fiscal 2006 reflects increased interest and financing costs of $1,308,000 related to financings completed in Fiscal 2005 and Fiscal 2006, a reduction in non-cash income of $741,000 resulting from changes in fair market value of derivative securities and warrants, an increase in cost of sales of $321,000 associated with higher revenue and an increase in goodwill impairment of $38,000 for the BJR Security Acquisition; offset in part by growth in revenue of $416,000, income of $120,000 from disposal of a discontinued operation, and reductions in other operating expenses of $602,000.
Revenues from continuing operations for the fourth quarter of fiscal 2006 were $1,412,000 compared with $1,285,000 from continuing operations in the prior year's fourth fiscal quarter ended September 30, 2005. The net loss was $447,000, or $0.07 per share, for the quarter ended September 30, 2006 compared with a net loss of $345,000, or $0.11 per share, for the quarter ended September 30, 2005. The net loss for the quarter ended September 30, 2006 reflected increases in interest and financing costs of $208,000, a reduction in non-cash income of $75,000 resulting from changes in fair market value of derivative securities and warrants, an increase in goodwill impairment of $38,000 for the BJR Security Acquisition from the quarter ended September 30, 2005; offset by increases in revenue of $127,000 and decreases in operating expenses of $91,000.
Peter P. Phildius, Chairman and CEO of Avitar said, "We believe that Avitar's rapid, oral fluid drug testing technology is making inroads towards helping to control the tremendous problem our country is experiencing with drug users on the payroll. This problem, which is estimated to cost U.S. industry $140 billion per year, also creates other significant workplace issues."
Mr. Phildius continued, "We believe our product is far superior to any other similar products on the market. Avitar's rapid, oral fluid drug testing technology addresses workplace drug use while providing significant economic value to our customers, many of whom include industry leaders in areas such as manufacturing, retail and hospitality. Our plans for Fiscal 2007 include placing more resources into our sales and marketing efforts. We believe that Avitar's superior products, combined with our ramp-up in sales and marketing efforts, will help to accelerate the adoption of our unique technology in addressing the significant problem of drug users on the payroll, and result in continued revenue increases."
ABOUT AVITAR
Avitar, Inc. develops, manufactures and markets innovative and proprietary products in the oral fluid diagnostic market, disease and clinical testing market, and customized polyurethane applications used in the wound dressing industry. Oral fluid diagnostics includes the estimated $1.5 billion drugs-of- abuse testing market, which encompasses the corporate workplace and criminal justice markets. Avitar's products include ORALscreen®, the world's first non-invasive, rapid, onsite oral fluid test for drugs-of-abuse. Additionally, Avitar manufactures and markets HYDRASORB®, an absorbent topical dressing for moderate to heavy exudating wounds. In the estimated $25 billion in vitro diagnostics market, Avitar is developing diagnostic strategies for disease and clinical testing. Some examples include influenza, diabetes and pregnancy. For more information, see Avitar's website at www.avitarinc.com.
Forward Looking Statements
This release contains forward looking statements that are subject to risks and uncertainties including the development and marketing of new applications and other risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission. In view of such risks and uncertainties, the Company's actual results could differ materially from those anticipated in such forward looking statements.
Contact: Jay C. Leatherman The Investor Relations Group Avitar Inc. Investors: 781-821-2440 Erika Moran/Tom Caden, 212-825-3210 jleatherman*avitarinc.com emoran*investorrelationsgroup.com www.avitarinc.com tcaden*investorrelationsgroup.com Media: Bill Douglass, 212-825-3210 bdouglass*investorrelationsgroup.com
Avitar, Inc. Summary of Financial Results (in thousands, except per share amounts)
Quarter Year Ended September 30, Ended September 30, 2006 2005 2006 2005 Sales $1,412 $1,285 $4,925 $4,509
Operating Expenses: Cost of Sales 973 842 3,504 3,183 Selling, General and Administrative 951 1,156 3,956 4,329 Research and Development 145 163 494 724 Goodwill Impairment 138 100 138 100 Total Operating Expenses 2,207 2,261 8,092 8,336
Operating Loss (795) (976) (3,167) (3,827)
Other Income (Expenses) 348 631 (656) 1,394
Loss from Continuing Operations (447) (345) (3,823) (2,433)
Discontinued Operations: Income from the Disposal of USDTL - - 120 - Income from Discontinued Operations - - 120 - Net Loss $(447) $(345) $(3,703) $(2,433)
Basic and Diluted Loss Per Share From Continuing Operations $(0.07) $(0.11) $(0.82) $(1.53)
Basic and Diluted Net Loss Per Share $(0.07) $(0.11) $(0.80) $(1.53)
Weighted Average Number of Shares and Common Equivalent Shares Outstanding 6,482,942 3,601,570 4,850,608 3,115,574
posted
So they made a little more money and decreased spending some...
Well we caught the bottom of this thing, flipping it seems is the way to go, support at .025 and bounces to .035 maybe the news will help wake this up ~
Still waiting for this super low float of 6 mill to take off, popped to .499 before Christmas then chilled. Stochastic is getting lower to the BUY section so once again we'll see how far the run takes us up.
posted
back up to .03 hopefully we can break it of we will be right back to .025
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
![[Frown]](frown.gif)
![[Wink]](wink.gif)
