A Business at a Glance
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Positron Corporation (the " Company" or “ Positron”) was incorporated under the laws of the State of Texas in 1983. Unless the context requires otherwise, in this report the terms “we,” “us”, “our”, “the Company”, and Positron refer to Positron Corporation. Nature of Business Positron Corporation is a nuclear medicine healthcare company specializing in the field of cardiac Positron Emission Tomography (PET) imaging - the gold standard diagnostic test in nuclear cardiology. Positron’s products and services enable healthcare providers to more accurately diagnose disease and improve patient outcomes, while practicing cost effective medicine. Positron is the only company that intends to provide an economical, end-to-end solution for PET myocardial perfusion imaging through complementary product integration of PET imaging systems, radiopharmaceuticals and radioisotopes.
| Metric | TTM | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|
| Revenue | 1.2M | 1.5M | - | - | 6.7M | - |
| Net Income | -1.3M | -2.6M | -7.1M | -8.0M | -6.1M | -11M |
| EPS | $-0.08 | $-0.00 | $-0.00 | $-4.00 | $-4.00 | $-8.00 |
| Free Cash Flow | -1.1M | -2.4M | -3.1M | -2.3M | -4.1M | -4.9M |
| ROIC | -81.5% | -115.9% | -86.0% | -138.9% | -150.3% | -220.6% |
| Gross Margin | 33.0% | 7.1% | - | - | 4.2% | - |
| Debt/Equity | 0.00 | -1.11 | -0.06 | -0.13 | -0.12 | -61.15 |
| Dividends/Share | $0.00 | - | - | - | $0.00 | $0.00 |
| Operating Income | -1.6M | -2.7M | -3.3M | -4.7M | -4.4M | -14M |
| Operating Margin | -126.8% | -187.1% | - | - | -65.9% | - |
| ROE | 0.0% | - | - | - | 0.0% | 0.0% |
| Shares Outstanding | 14M | 14M | 14M | 2M | 2M | 1M |
| Metric | 2010 | 2011 | 2012 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | N/A | 6.7M | N/A | N/A | 1.5M | 1.2M |
| Gross Margin | N/A | 4.2% | N/A | N/A | 7.1% | 33.0% |
| R&D | 1.3M | 1.3M | 940K | 564K | 471K | 250K |
| SG&A | 12M | 2.3M | 4.3M | 2.8M | 2.2M | 1.6M |
| EBIT | -14M | -4.4M | -4.7M | -3.3M | -2.7M | -1.6M |
| Op. Margin | N/A | -65.9% | N/A | N/A | -187.1% | -126.8% |
| Net Income | -11M | -6.1M | -8.0M | -7.1M | -2.6M | -1.3M |
| Net Margin | N/A | -91.9% | N/A | N/A | -176.3% | -102.7% |
| Non-Recurring | 0 | 0 | -18K | 346K | 346K | 22K |
| Returns on Capital | ||||||
| ROIC | N/M | -150.3% | -138.9% | -86.0% | -115.9% | -81.5% |
| ROE | 0.0% | 0.0% | N/A | N/A | N/A | 0.0% |
| ROA | -211.2% | -163.6% | -296.3% | -183.0% | -89.9% | -83.6% |
| Cash Flow | ||||||
| Op. Cash Flow | -4.7M | -4.1M | -2.2M | -3.0M | -2.4M | -1.1M |
| Free Cash Flow | -4.9M | -4.1M | -2.3M | -3.1M | -2.4M | -1.1M |
| Owner Earnings | -7.2M | -4.2M | -4.2M | -3.9M | -2.7M | -1.5M |
| CapEx | 238K | 10K | 73K | 16K | 26K | 1K |
| Maint. CapEx | 43K | 135K | 226K | 160K | 152K | 138K |
| Growth CapEx | 195K | 0 | 0 | 0 | 0 | 0 |
| D&A | 43K | 135K | 226K | 160K | 152K | 138K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.5M | 0 | 1.8M | 656K | 89K | 248K |
| Debt Repayment | 0 | 0 | 432K | 2K | 3K | 3K |
| Balance Sheet | ||||||
| Net Debt | N/A | 333K | 332K | -2.8M | 515K | 1.2M |
| Cash & Equiv. | 1.1M | 1K | 243K | 1.7M | 208K | 56K |
| Long-Term Debt | N/A | 334K | 560K | 466K | 9K | N/A |
| Debt/Equity | -61.15 | -0.12 | -0.13 | -0.06 | -1.11 | 0.00 |
| Interest Coverage | -335.9 | -3.7 | -2.7 | -1.6 | -1.5 | -1.5 |
| Equity | -86K | -2.9M | -6.2M | -11M | -837K | -1.6M |
| Total Assets | 5.2M | 2.3M | 2.7M | 3.9M | 1.9M | 1.5M |
| Total Liabilities | 5.3M | 5.2M | 8.9M | 15M | 2.7M | 3.1M |
| Intangibles | N/A | 0 | 716K | 20K | 18K | 12K |
| Retained Earnings | -102M | -108M | -116M | -123M | -126M | -127M |
| Working Capital | -470K | -3.2M | -7.0M | -12M | -2.0M | -2.6M |
| Current Assets | 4.8M | 2.0M | 1.1M | 2.6M | 730K | 514K |
| Current Liabilities | 5.3M | 5.2M | 8.1M | 15M | 2.7M | 3.1M |
| Per Share Data | ||||||
| EPS | -8.00 | -4.00 | -4.00 | -0.00 | -0.00 | -0.08 |
| Owner EPS | -5.30 | -2.75 | -2.14 | -0.27 | -0.19 | -0.10 |
| Book Value | -0.06 | -1.87 | -3.11 | -0.79 | -0.06 | -0.11 |
| Cash Flow/Share | -3.43 | -2.66 | -1.13 | -0.21 | -0.17 | -0.08 |
| Dividends/Share | 0.00 | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 1.4M | 1.5M | 2.0M | 14.3M | 14.3M | 14.3M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -23.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | 20.1 | 22.0 |
| FCF Yield | N/A | N/A | -32.3% | -13.4% | -21.4% | -4.0% |
| Market Cap | 0 | 0 | 7.2M | 23M | 11M | 27M |
| Avg. Price | 0.00 | 0.00 | 4.55 | 2.68 | 2.07 | 1.91 |
| Year-End Price | 0.00 | 0.00 | 3.60 | 1.60 | 0.80 | 1.91 |
POSITRON CORP passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 5.6%.
POSITRON CORP (POSC) has a 5-year average return on invested capital (ROIC) of -122.8%. This is below average and may indicate limited pricing power.
POSITRON CORP (POSC) has a market capitalization of $27M. It is classified as a small-cap stock.
POSITRON CORP (POSC) does not currently pay a regular dividend.
POSITRON CORP (POSC) operates in the Electromedical & Electrotherapeutic Apparatus industry, within the Healthcare sector.
POSITRON CORP (POSC) reported annual revenue of $1 million in its most recent fiscal year, based on SEC EDGAR filings.
POSITRON CORP (POSC) has a net profit margin of -176.3%. The company is currently unprofitable.
POSITRON CORP (POSC) generated $-2 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
POSITRON CORP (POSC) has a 5-year average gross margin of 5.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for POSITRON CORP (POSC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
POSITRON CORP (POSC) has a book value per share of $-0.06, based on its most recent annual SEC filing.