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June 9, 2005 Stock Pick: MDU Communications International (MDTV)

Stock Price: $2.02

MDU Communications International, Inc. is a leading end-to-end provider of DIRECTV® digital satellite television programming, high-speed Internet and other premium communication and information services. The company provides their services exclusively to the United States multi-dwelling unit (MDU) marketplace - estimated to include 26 million residences.

MDU Communication's billable subscribers have been growing rapidly quarter over quarter, during the second quarter the number rose from 26,097 subscribers in 343 properties to 30,152 in 394 properties. The backlog is significant at 152,409 units in over 400 properties. Business is pouring in and the company needs to ramp up to accept the overflow. Last quarter, revenue was $2.08 million. Negative EBITDA of $520,783 was reported.

MDTV has over $14 million in cash on the balance sheet, total assets of $29,485,455 and total liabilities of $1,984,936. There are 50 million shares outstanding.

MDTV was in a strong uptrend for a year and a half until the beginning of this year. It has since dropped from the $3.50 level to its current level where MDTV has begun to bottom, and should start trending higher again.

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