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Motley Fool Hidden Gems / HGS: CNS


Subject:  Market Size? Date:  1/20/2004  8:55 PM
Author:  valuegem Number:  157 of 766

I am an investor CNS already and have enjoyed seeing the stock price appreciate. I'm hoping that the quarterly results will give us an upside surprise with the flu season being as bad as it is this year.

I recently had a conversation with an ENT (Ear, Nose and Throat) doctor specialist and asked about the effectiveness of Breathe Right strips. He generally said very good things about the product which made me happy. However, he did say that the strips are truly effective on only a small percentage of the public who have a abnormally small internal openings at the top of their nose (not the nostrils).

This led me to question the size of CNS's market opportunity. They already have 90% market share so they aren't going to get revenue growth through market share gains. They need to grow the size of the overall pie themselves. But, if the strips are only truly effective on a small % of the population, how much larger can this company be? I also wonder if there are a lot of people out there that have tried the product and just didn't think that it worked and never bought again. It would be great to see some data on the % of first time users being repeat customers.

Just curious if there are any other ENT doctors out there that might be able to add to this discussion. Or, if there are other investors out there that has performed their due diligence on this topic.

Thanks. Looking forward to your thoughts.

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