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BANY: Increases Sales Estimates on its New VT3000 Nerve Conduction Velocity
Thursday , January 11, 2007 11:29ET
By Brian Edwards, bedwards*knobias.com
Banyan Corporation's (BANY) subsidiary, Virtual Medical Systems, Inc. ("VMS"), announces it has now sold 66 of its new VT3000 Nerve Conduction Velocity ("NCV") testing devices since November 2006. The VT3000 is a state of the art NCV device offering live viewing and supervision of testing by board certified physicians. These 66 machines are expected to add $1.58 million in revenue to VMS. The company, in an earlier release, reported that management projected 2007 sales of 144 machines corresponding to $3.4 million in revenue. Now, as a result of these increased sales, management has revised its estimates upward to 166 machines and $3.98 million in revenue.
Banyan CEO Michael Gelmon stated, "This is exciting news, but not unexpected. The diagnostic industry has long been waiting for the development of a machine with the properties of the VT3000. In December, 36% of the patients tested in our diagnostic testing subsidiary were being tested utilizing proprietary technology incorporated in the VT3000. We believe our technology should be the gold standard in the industry shortly. In addition, it represents significant growth and long term viability of the VMS model."
-------------------- This is not a recommendation to buy or sell securities.
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MM's are market makers. They make money off of the spread, they often pull back the stock or make wide spreads so that they can accumulate, and then they let it run.
-------------------- Disclaimer: Not accountable for anything I say
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