AtCor Medical (ACG) share price enjoyed its second best one-day surge on record after it confirmed that it will report a maiden full year profit when it releases its results next month.
AtCor, which developed a blood pressure and arterial stiffness measuring device, said 2012-13 sales is expected to surge 40% to $9 million and full year profit will range between $2.7 million to $2.9 million.
This would put the stock on a very modest price-earnings multiple of under four times based on its last traded share price before the news, although the result was bolstered by a one-off research and development tax credit of $700,000 from the federal government.
However, its operating result is still encouraging as the company recorded a cash flow from operations of $600,000 for the period.
AtCor’s cash position is $2.9 million, which is more than double what it held in the bank a year ago.
But investors wouldn't be too surprised at the strong result if they had read Three small cap pocket rockets back in February.
The stock, which is not part of the Uncapped 100, jumped 43.8% to 10.5 cents in early trade. If it closes at this level, it would mark the stock’s best one-day jump since 2007.