13F-HR 1 dec0313f.txt "Perkins Capital Management, Inc." FORM 13F 31-Dec-03 Voting Authority -------------------------- Title Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer of class CUSIP (x$1000) Prn Amt Prn Call Dscrtn Mgrs Sole Shrd No ABBOTT LABS COM 002824100 626 13425 SH Sole 350 13075 ACT TELECONFERENCING INC COM 000955104 132 121800 SH Sole 48800 73000 A D A M INC COM 00088U108 98 50000 SH Sole 50000 A D C TELECOMMUNICATIONS COM 000886101 5045 1698686 SH Sole 379000 1319686 AFFYMETRIX INC COM 00826T108 1977 80350 SH Sole 23400 56950 AGERE SYS INC CL A 00845V100 76 25060 SH Sole 1 25059 AIR METHODS CORP COM PAR $.06 009128307 180 20000 SH Sole 20000 ALBERTSONS CORP COM 013104104 731 32288 SH Sole 8888 23400 AMERICAN DENTAL PARTNERS COM 025353103 199 17500 SH Sole 17500 AMERICAN EXPRESS CO COM 025816109 438 9075 SH Sole 4375 4700 AMERICAN SHARED HOSPITAL SVC COM 029595105 180 30000 SH Sole 30000 AMERIVEST PPTYS INC DEL COM 03071L101 309 43000 SH Sole 1000 42000 AMX CORP NEW COM 00180C105 159 20000 SH Sole 20000 APPLEBEES INTL INC COM 037899101 404 10275 SH Sole 3750 6525 ARCHSTONE SMITH TR COM 039583109 212 7575 SH Sole 3500 4075 ART TECHNOLOGY GROUP INC COM 04289L107 2709 1770334 SH Sole 33334 1737000 ASPECT MED SYS INC COM 045235108 120 10500 SH Sole 7000 3500 ATS MED INC COM 002083103 1054 260250 SH Sole 82300 177950 AUGUST TECHNOLOGY CORP COM 05106U105 698 37500 SH Sole 37500 AXSYS TECHNOLOGIES INC COM 054615109 210 15000 SH Sole 15000 BEMIS INC COM 081437105 288 5750 SH Sole 2750 3000 BIOMIRA INC COM 09161R106 2569 1736000 SH Sole 124200 1611800 BRISTOL MYERS SQUIBB CO COM 110122108 488 17050 SH Sole 1800 15250 BRITESMILE INC COM NEW 110415205 220 8667 SH Sole 8667 BUCA INC COM 117769109 364 53500 SH Sole 40000 13500 CAPITAL AUTOMOTIVE REIT COM SH BEN INT 139733109 512 16000 SH Sole 6500 9500 CASH AMER INTL INC COM 14754D100 741 35000 SH Sole 35000 CBL & ASSOC PPTYS INC COM 124830100 2089 36975 SH Sole 11350 25625 CELLSTAR CORP COM NEW 150925204 379 30000 SH Sole 30000 CHARTER COMMUNICATIONS INC D CL A 16117M107 42 10500 SH Sole 3000 7500 CHIRON CORP COM 170040109 1828 32075 SH Sole 8025 24050 CIPRICO INC COM 172529109 3175 659983 SH Sole 424083 235900 CLICK2LEARN INC COM 18681S106 2412 1148404 SH Sole 21000 1127404 CNS INC COM 126136100 4382 319830 SH Sole 151540 168290 COMPEX TECHNOLOGIES INC COM 204513105 1856 222000 SH Sole 73500 148500 CONCEPTUS INC COM 206016107 4564 429715 SH Sole 28750 400965 CONSTELLATION BRANDS INC CL A 21036P108 1046 31750 SH Sole 7500 24250 CONVERA CORP CL A 211919105 119 35000 SH Sole 35000 CORNING INC COM 219350105 130 12500 SH Sole 7500 5000 CORVEL CORP COM 221006109 2389 63525 SH Sole 8000 55525 COST-U-LESS INC COM 221492101 268 87000 SH Sole 35000 52000 CRITICARE SYS INC COM 226901106 103 25300 SH Sole 25300 DEL LABS INC COM 245091103 1534 61366 SH Sole 34650 26716 DELPHAX TECHNOLOGIES INC COM 24712X106 1009 326666 SH Sole 200666 126000 DELUXE CORP COM 248019101 1489 36025 SH Sole 7900 28125 DONALDSON INC COM 257651109 1155 19525 SH Sole 3500 16025 DOUBLE EAGLE PETE CO COM PAR $0.10 258570209 305 20000 SH Sole 20000 DYNAMEX INC COM 26784F103 270 22500 SH Sole 22500 EFUNDS CORP COM 28224R101 188 10850 SH Sole 6650 4200 EARTHLINK INC COM 270321102 280 28000 SH Sole 6000 22000 ELAN PLC ADR 284131208 69 10000 SH Sole 10000 ENDOCARDIAL SOLUTIONS INC COM 292962107 341 47400 SH Sole 11900 35500 ENDOLOGIX INC COM 29266S106 5644 1428800 SH Sole 332400 1096400 ENTRX CORP COM 293850103 240 250000 SH Sole 200000 50000 EON COMMUNICATIONS CORP COM 268763109 1563 422450 SH Sole 1400 421050 EPOCH BIOSCIENCES INC COM 294273107 3727 1641700 SH Sole 579600 1062100 EQUITEX INC COM PAR $0.02 294592308 163 102000 SH Sole 100000 2000 EQUITY ONE COM 294752100 234 13892 SH Sole 4000 9892 ESSEX CORP COM 296744105 798 85000 SH Sole 85000 EXACT SCIENCES CORP COM 30063P105 162 16050 SH Sole 7600 8450 EXXON MOBIL CORP COM 30231G102 271 6600 SH Sole 6600 FIRST CASH FINL SVCS INC COM 31942D107 579 22600 SH Sole 10000 12600 FIRST TENN NATL CORP COM 337162101 1169 26500 SH Sole 8150 18350 FORGENT NETWORKS INC COM 34629U103 397 160800 SH Sole 55000 105800 G & K SVCS INC COM 361268105 1508 41025 SH Sole 19200 21825 GENERAL ELEC CO COM 369604103 567 18300 SH Sole 13200 5100 GENERAL GROWTH PPTYS INC COM 370021107 495 17850 SH Sole 8400 9450 GENERAL MLS INC COM 370334104 348 7675 SH Sole 7675 GLIMCHER RLTY TR SH BEN INT 379302102 828 36975 SH Sole 12250 24725 GLOBECOMM SYSTEMS INC COM 37956X103 1627 342500 SH Sole 342500 GRANITE CITY FOOD & BREWERY COM 38724Q107 40 10122 SH Sole 6328 3794 GUITAR CTR MGMT INC COM 402040109 1224 37500 SH Sole 37500 HEALTH CARE REIT INC COM 42217K106 2221 61700 SH Sole 18025 43675 HEALTHCARE RLTY TR COM 421946104 450 12575 SH Sole 5250 7325 HECTOR COMMUNICATIONS CORP COM 422730101 370 26379 SH Sole 12186 14193 HEI INC COM 404160103 2309 710400 SH Sole 179150 531250 HERSHEY FOODS CORP COM 427866108 439 5700 SH Sole 1000 4700 HYPERCOM CORP COM 44913M105 621 130500 SH Sole 117500 13000 IDENTIX INC COM 451906101 726 163229 SH Sole 81041 82188 IMAGE SENSING SYS INC COM 45244C104 177 17500 SH Sole 17500 IMATION CORP COM 45245A107 239 6800 SH Sole 3250 3550 IMPLANT SCIENCES CORP COM 45320R108 187 20000 SH Sole 20000 INSIGNIA SYS INC COM 45765Y105 4653 1775734 SH Sole 1225300 550434 INTEGRAMED AMER INC COM NEW 45810N302 137 22000 SH Sole 22000 INTERNATIONAL MULTIFOODS COR COM 460043102 325 18050 SH Sole 4800 13250 INTERWOVEN INC COM NEW 46114T508 1728 133774 SH Sole 1250 132524 ISIS PHARMACEUTICALS INC COM 464330109 508 78150 SH Sole 32100 46050 JOHNSON & JOHNSON COM 478160104 921 17825 SH Sole 3425 14400 KYPHON INC COM 501577100 1470 59200 SH Sole 19200 40000 LANDAMERICA FINL GROUP INC COM 514936103 219 4200 SH Sole 1750 2450 LAWSON SOFTWARE INC COM 520780107 1187 142965 SH Sole 55700 87265 LEVEL 3 COMMUNICATIONS INC COM 52729N100 1817 318800 SH Sole 102600 216200 LIFECELL CORP COM 531927101 125 20100 SH Sole 2900 17200 LIFECORE BIOMEDICAL INC COM 532187101 1487 247083 SH Sole 77833 169250 LILLY ELI & CO COM 532457108 382 5425 SH Sole 5425 LIONBRIDGE TECHNOLOGIES INC COM 536252109 6122 637750 SH Sole 7000 630750 LUCENT TECHNOLOGIES INC COM 549463107 562 197804 SH Sole 35000 162804 M SYS FLASH DISK PIONEERS LT ORD M7061C100 863 50000 SH Sole 50000 MATRITECH INC COM 576818108 1235 649850 SH Sole 3500 646350 MATRIXX INITATIVES INC COM 57685L105 310 17500 SH Sole 17500 MBNA CORP COM 55262L100 1863 74989 SH Sole 19650 55339 MEDTOX SCIENTIFIC INC COM NEW 584977201 1066 179083 SH Sole 99600 79483 MEDTRONIC INC COM 585055106 2756 56697 SH Sole 8200 48497 MEDWAVE INC COM 585081102 1089 189380 SH Sole 125626 63754 MERCK & CO INC COM 589331107 471 10200 SH Sole 9200 1000 MODEM MEDIA INC CL A 607533106 204 25000 SH Sole 25000 NATIONAL CITY CORP COM 635405103 410 12074 SH Sole 8824 3250 NATIONAL HOME HEALTH CARE CO COM 636380107 143 15000 SH Sole 15000 NATROL INC COM 638789107 39 14000 SH Sole 14000 NAVARRE CORP COM 639208107 2940 483500 SH Sole 242000 241500 NBTY INC COM 628782104 1967 73250 SH Sole 38600 34650 NORSTAN INC COM 656535101 6814 2136175 SH Sole 441500 1694675 NORTECH SYSTEMS INC COM 656553104 128 15750 SH Sole 12000 3750 OPTIKA INC COM 683973101 685 150550 SH Sole 150550 OTTER TAIL CORP COM 689648103 274 10250 SH Sole 10250 PATTERSON DENTAL CO COM 703412106 563 8800 SH Sole 8800 PEMSTAR INC COM 706552106 2619 795900 SH Sole 229000 566900 PEPSICO INC COM 713448108 220 4725 SH Sole 4725 PFIZER INC COM 717081103 2092 59205 SH Sole 6675 52530 POWERWAVE TECHNOLOGIES INC COM 739363109 704 90950 SH Sole 28300 62650 PW EAGLE INC COM 69366Y108 1174 266942 SH Sole 160442 106500 QUIDEL CORP COM 74838J101 493 45750 SH Sole 45750 QUOVADX INC COM 74913K106 2369 483550 SH Sole 1500 482050 RF MONOLITHICS INC COM 74955F106 295 30000 SH Sole 30000 REDLINE PERFORMANCE PRODS IN COM 75763Q101 715 193169 SH Sole 91784 101385 REGIS CORP MINN COM 758932107 4007 101400 SH Sole 52550 48850 RENAL CARE GROUP INC COM 759930100 888 21550 SH Sole 4500 17050 RETEK INC COM 76128Q109 339 36500 SH Sole 36500 RIMAGE CORP COM 766721104 2870 181200 SH Sole 76500 104700 RITA MED SYS INC DEL COM 76774E103 5061 1137250 SH Sole 209000 928250 ROCHESTER MED CORP COM 771497104 403 43000 SH Sole 42500 500 ROCKWELL MEDICAL TECH COM 774374102 2275 570000 SH Sole 300000 270000 SBC COMMUNICATIONS INC COM 78387G103 223 8571 SH Sole 8571 SCHOOL SPECIALTY INC COM 807863105 230 6750 SH Sole 600 6150 SCIENTIFIC GAMES CORP CL A 80874P109 2080 122550 SH Sole 70500 52050 SOLECTRON CORP COM 834182107 130 22000 SH Sole 17500 4500 SOUTHWEST AIRLS CO COM 844741108 696 43125 SH Sole 14800 28325 SPECTRANETICS CORP COM 84760C107 113 30000 SH Sole 30000 SPIRE CORP COM 848565107 865 181350 SH Sole 92350 89000 SPRINT CORP COM FON GROUP 852061100 456 27750 SH Sole 7500 20250 ST JUDE MED INC COM 790849103 3667 59774 SH Sole 3000 56774 STELLENT INC COM 85856W105 5479 552284 SH Sole 159834 392450 SUN MICROSYSTEMS INC COM 866810104 354 79141 SH Sole 2349 76792 SUNOPTA INC COM 8676EP108 1550 167950 SH Sole 1500 166450 SUPERVALU INC COM 868536103 663 23200 SH Sole 2000 21200 SURMODICS INC COM 868873100 808 34026 SH Sole 10051 23975 SYNOVIS LIFE TECHNOLOGIES IN COM 87162G105 7077 349500 SH Sole 188500 161000 TARGET CORP COM 87612E106 695 18100 SH Sole 18100 TCF FINL CORP COM 872275102 1294 25200 SH Sole 2750 22450 TEXAS INSTRS INC COM 882508104 961 32725 SH Sole 32725 THERAGENICS CORP COM 883375107 528 96583 SH Sole 57083 39500 THERASENSE INC COM 883381105 2334 115675 SH Sole 1400 114275 TORO CO COM 891092108 427 9200 SH Sole 4000 5200 UROLOGIX INC COM 917273104 7779 1185800 SH Sole 311000 874800 US BANCORP DEL COM NEW 902973304 1702 57141 SH Sole 14384 42757 US ONCOLOGY INC COM 90338W103 1119 104000 SH Sole 100500 3500 VALERO ENERGY CORP NEW COM 91913Y100 215 4650 SH Sole 2250 2400 VECTOR GROUP LTD COM 92240M108 412 25240 SH Sole 18465 6775 VELOCITY EXPRESS CORP COM NEW 92257T202 87 147640 SH Sole 110000 37640 VITAL IMAGES INC COM 92846N104 12571 703867 SH Sole 184667 519200 WELLS FARGO & CO NEW COM 949746101 502 8525 SH Sole 1700 6825 WITNESS SYS INC COM 977424100 374 40350 SH Sole 40350 WORLDQUEST NETWORKS COM 98156W105 192 60000 SH Sole 60000 WYETH COM 983024100 218 5124 SH Sole 5124 XCEL ENERGY INC COM 98389B100 673 39625 SH Sole 14925 24700 XEROX CORP COM 984121103 145 10500 SH Sole 2500 8000 XILINX INC COM 983919101 377 9751 SH Sole 9751 ZIX CORP COM 98974P100 603 69400 SH Sole 28300 41100 Z TEL TECHNOLOGIES INC COM 988792107 380 187900 SH Sole 80400 107500 REPORT SUMMARY DATA RECORDS 169 TOTAL VALUE 211450 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED 0