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No. of Recommendations: 9
They seem to be looking for 10-12% growth, which is good, but hardly staggering. In this market, it might even be sufficient to maintain a PE of 20 or so. But, with 11-14% growth, your really only looking at a 130M company in three years.

Actually, the expectations when CNXS was recommended (Sept 2003) and in the annual review (Jan 2004) is approximately 13% growth rate per year. There is still another 3 months left in the fiscal year, but year-to-date growth in revenues has been 12%. YTD net income has increased 38%. Company has no debt, 42 million in cash, 4.17 book value per share with $3.07 in cash per share....Kind of like these numbers.

Expected fair value over 3 years was $18-$21/share, add in a dividend of 1.16%, and there is the potential of 16%-23% avg per year return.

Although not at all an exciting company, I use their products and know many others that do as well. A company that focuses on respiratory related issues when more and more people are afflicted with breathing related problems....that's a pretty good business.

I have tried the generic Breathe Right strips and they lack the rigidness in the strip to open the nasal passages.

Plus a launch of a new product in 2004. Not to mention the potential for a company like this to also be a take over target.

Mike

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