InfuSystem Holdings ($INFU) 2013 Annual Meeting

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I took a few days off from work around Labor day to go visit my mom in Vermont.  I hadn’t been back to Vermont for several years, so I wanted to get back before it was too cold for my liking.  During this time, $INFU had their annual meeting.  I did not attend the meeting since I was flying to Vermont, but would have liked to have gone.  I would love to hear from anyone that attended the meeting and would like to give me a summary.

Management also released an 8-k with an investor presentation attached!  It is great to see management trying to get the word out about their company and providing shareholders with more information than they previously supplied.  If you have not reviewed the presentation, I would follow the link and take a gander.

A couple of my observations after reviewing the presentation:

  • The company has been focusing on increasing their IT systems to automate more of the internal processes.  I’m a fan of efficiency and automation, so I like to see the improvements the company is making.  More throughput can be realized with less errors which will allow the company to record more revenue while lowering costs.
  • Growing the service center locations, including three large metropolitan regions (Houston/Dallas, Atlanta and NYC/NJ).  Obviously this expansion will require cash outlay from CapEx, but makes sense to be able to grow the business.  Being able to service pumps (clean, certify, and distribute) is important, and having more capacity allows for more growth.
  • The company notes that the useful life of a pump is 10-15 years.  Means the company is over depreciating the pumps due to regulations.  In one of the conference calls, they mentioned that they are working on trying to extend the accounting life of the pumps for depreciation purposes.

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Tagged on: INFU, InfuSystem