13F-HR 1 q10613f.txt PCM 13F 1Q2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 31-Mar-06 Check here if Amendment [ ] ; Amendment Number: ________ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manger Filing this Report: Name: Perkins Capital Management, Inc. Address: 730 East Lake Street, Wayzata, Minnesota 55391 SEC File Number: 801-22888 The institutional investment manager filing this report an the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that is understood that all required items, statements, schedules, lists and tables are considered integral parts of this form. Person signing on this Report on Behalf of Reporting Manager: Name: Richard C. Perkins Title: Executive Vice President/Portfolio Manager Phone: (952) 473-8367 Signature: /s/ Richard C. Perkins Place and Date of Signing: Wayzata, MN 1-May-06 Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Name Title Value Shrs/ Sh/ Put/ Invstmt Otr Voting Authority of Issuer of class CUSIP (x$1k)Prn Amt Prn Call Dscrtn Mgrs Sole Shrd None ABBOTT LABS COM 002824100 322 7575 SH Sole 300 7275 ACE LTD ORD G0070K103 265 5100 SH Sole 2500 2600 ADDVANTAGE TECH COM NOLOGIES GP I NEW 006743306 263 44500 SH Sole 27500 17000 ADEZA BIO MEDICAL CORP COM 006864102 975 46150 SH Sole 19050 27100 AFFYMETRIX INC COM 00826T108 1644 49925 SH Sole 18375 31550 AIRSPAN NET WORKS INC COM 00950H102 254 37600 SH Sole 23100 14500 AMERICAN EXPRESS CO COM 025816109 277 5275 SH Sole 2150 3125 AMERICAN SHARED HOSPITAL SVC COM 029595105 169 25000 SH Sole 25000 AMYLIN PHARMA CEUTICALS INC COM 032346108 1958 40000 SH Sole 20425 19575 APOGEE ENTER PRISES INC COM 037598109 710 42050 SH Sole 9500 32550 APPLIANCE RECY COM CLING CTRS AME NEW 03814F205 4238 700450 SH Sole 625850 74600 APPLIX INC COM 038316105 172 22500 SH Sole 22500 ARCHSTONE SMITH TR COM 039583109 256 5250 SH Sole 2150 3100 ART TECH NOLOGY GROUP INC COM 04289L107 2953 919792 SH Sole 186542 733250 ASYST TECH NOLOGY CORP COM 04648X107 949 91200 SH Sole 14500 76700 BAKER HUGHES INC COM 057224107 328 4800 SH Sole 2250 2550 BALLY TOTAL FITNESS HLDG COR COM 05873K108 197 21000 SH Sole 20000 1000 BANK OF AMERICA CORPORATION COM 060505104 1089 23914 SH Sole 5850 18064 BIOMET INC COM 090613100 323 9100 SH Sole 325 8775 BIOMIRA INC COM 09161R106 2322 1707600 SH Sole 818900 888700 BTU INTL INC COM 056032105 690 42000 SH Sole 40000 2000 CABG MED INC COM 124676107 173 127650 SH Sole 101000 26650 CAPTARIS INC COM 14071N104 248 53490 SH Sole 6500 46990 CARDICA INC COM 14141R101 370 47000 SH Sole 4250 42750 CARDIOTECH INTL INC COM 14160C100 139 50000 SH Sole 50000 CAREMARK RX INC COM 141705103 546 11100 SH Sole 2800 8300 CASH SYSTEMS INC COM 14756B102 1098 158000 SH Sole 134000 24000 CBL & ASSOC PPTYS INC COM 124830100 1454 34250 SH Sole 12125 22125 CELLEGY PHARMA CEUTICALS INC COM 15115L103 857 952300 SH Sole 435200 517100 CHARMING SHOPPES INC COM 161133103 738 49600 SH Sole 18000 31600 CHOLESTECH CORP COM 170393102 406 31175 SH Sole 18200 12975 CIPRICO INC COM 172529109 2174 360450 SH Sole 254750 105700 CNS INC COM 126136100 2973 138039 SH Sole 82039 56000 COBRA ELECTRS CORP COM 191042100 159 15000 SH Sole 15000 CONCEPTUS INC COM 206016107 1879 143350 SH Sole 68550 74800 CONEXANT SYSTEMS INC COM 207142100 587 170000 SH Sole 120000 50000 CONOCOPHILLIPS COM 20825C104 401 6350 SH Sole 1600 4750 COST-U-LESS INC COM 221492101 408 52000 SH Sole 52000 CRITICARE SYS INC COM 226901106 1215 266950 SH Sole 63000 203950 DANKA BUSINESS SPON SYS PLC ADR 236277109 39 27500 SH Sole 10000 17500 DATALINK CORP COM 237934104 118 28600 SH Sole 28600 DELPHAX TECH NOLOGIES INC COM 24712X106 806 252000 SH Sole 195000 57000 DELUXE CORP COM 248019101 440 16800 SH Sole 3000 13800 DIGITAL ANGEL CORP COM 253830103 274 63750 SH Sole 44000 19750 DONALDSON INC COM 257651109 1037 30700 SH Sole 7000 23700 DOUBLE EAGLE COM PETE CO PAR $.10 258570209 276 15000 SH Sole 15000 DOVER CORP COM 260003108 289 5950 SH Sole 3900 2050 DYAX CORP COM 26746E103 948 163450 SH Sole 92500 70950 EBIX INC COM NEW 278715206 289 14250 SH Sole 14250 EDAP TMS S A SPON ADR 268311107 356 20000 SH Sole 20000 EDGEWATER TECHNOLOGY INC COM 280358102 164 25000 SH Sole 25000 EL PASO CORP COM 28336L109 543 45100 SH Sole 25000 20100 ELAN PLC ADR 284131208 1886 130600 SH Sole 35500 95100 ELOYALTY CORP COM NEW 290151307 310 20000 SH Sole 20000 ENDOLOGIX INC COM 29266S106 3976 837095 SH Sole 261650 575445 EON COMMUNI CATIONS CORP COM 268763109 842 311650 SH Sole 57500 254150 EQUITEX INC COMPR$.01NW 294592407 658 140000 SH Sole 90000 50000 EXPLORATION CO COM NEW 302133202 854 76000 SH Sole 34500 41500 FLUOR CORP NEW COM 343412102 373 4350 SH Sole 2000 2350 FULLER H B CO COM 359694106 554 10800 SH Sole 2950 7850 G & K SVCS INC CL A 361268105 616 14475 SH Sole 4500 9975 GENERAL ELECTRIC CO COM 369604103 485 13950 SH Sole 12150 1800 GENERAL MLS INC COM 370334104 233 4600 SH Sole 1000 3600 GLIMCHER RLTY TR SH BEN INT 379302102 591 20800 SH Sole 7800 13000 GLOBECOMM SYSTEMS INC COM 37956X103 2838 383525 SH Sole 79000 304525 GRAINGER W W INC COM 384802104 298 3950 SH Sole 2250 1700 GRANITE CITY FOOD & BREWERY COM 38724Q107 3573 760201 SH Sole 396101 364100 GULFMARK OFFSHORE INC COM 402629109 275 9900 SH Sole 5000 4900 HEALTH CARE REIT INC COM 42217K106 1266 33225 SH Sole 11650 21575 HEI INC COM 404160103 1465 578850 SH Sole 229500 349350 HERSHEY CO COM 427866108 564 10800 SH Sole 2000 8800 HEWLETT PACKARD CO COM 428236103 612 18600 SH Sole 6000 12600 IDENTIX INC COM 451906101 692 86974 SH Sole 83974 3000 ILLUMINA INC COM 452327109 3046 128250 SH Sole 57850 70400 I-MANY INC COM 44973Q103 160 100000 SH Sole 100000 IMATION CORP COM 45245A107 260 6050 SH Sole 4550 1500 ING GROEP N V SPON ADR 456837103 871 22100 SH Sole 7000 15100 INNOVEX INC COM 457647105 1476 284300 SH Sole 148250 136050 INSIGNIA SYS INC COM 45765Y105 1309 1283017 SH Sole 1077500 205517 INTEGRAMED AMER INC COM NEW 45810N302 318 27500 SH Sole 27500 ISIS PHARMA CEUTICALS INC COM 464330109 5650 627100 SH Sole 247450 379650 I-TRAX INC COM NEW 45069D203 6902 2036050 SH Sole 615900 1420150 JOHNSON & JOHNSON COM 478160104 832 14050 SH Sole 2600 11450 K2 INC COM 482732104 508 40450 SH Sole 15850 24600 KYPHON INC COM 501577100 565 15200 SH Sole 6950 8250 LEVEL 3 COMMUNI CATIONS INC COM 52729N100 544 105000 SH Sole 31000 74000 LIFECELL CORP COM 531927101 2139 94850 SH Sole 43800 51050 LIFECORE BIO MEDICAL INC COM 532187101 2704 231150 SH Sole 86500 144650 LILLY ELI & CO COM 532457108 695 12566 SH Sole 4500 8066 MANPOWER INC COM 56418H100 626 10950 SH Sole 2500 8450 MARATHON OIL CORP COM 565849106 263 3450 SH Sole 1600 1850 MATHSTAR INC COM 576801203 2297 444230 SH Sole 124529 319701 MATRITECH INC COM 576818108 155 182800 SH Sole 19000 163800 MATRIXX INITATIVES INC COM 57685L105 350 15000 SH Sole 15000 MCMORAN EXPLORATION CO COM 582411104 379 21250 SH Sole 8000 13250 MEDTOX SCIENTIFIC INC COM NEW 584977201 3800 410385 SH Sole 259234 151151 MEDTRONIC INC COM 585055106 1558 30700 SH Sole 5400 25300 MEDWAVE INC COM 585081102 425 117940 SH Sole 79688 38252 MERCK & CO INC COM 589331107 456 12950 SH Sole 11000 1950 MESA AIR GROUP INC COM 590479101 172 15000 SH Sole 3500 11500 MICRONETICS INC DEL COM 595125105 265 12000 SH Sole 12000 MICROTUNE INC DEL COM 59514P109 1792 343350 SH Sole 52000 291350 MICRUS ENDO VASCULAR CORP COM 59518V102 196 14000 SH Sole 14000 MOTOROLA INC COM 620076109 557 24300 SH Sole 9100 15200 MULTIBAND CORPORATION COM 62544X100 1608 1328800 SH Sole 574500 754300 NATIONAL CITY CORP COM 635405103 223 6400 SH Sole 5000 1400 NATIONAL TECH NICAL SYS INC COM 638104109 180 30000 SH Sole 30000 NATURAL HEALTH COM TRENDS CORP PAR .001 63888P406 402 59500 SH Sole 22900 36600 NATURE VISION INC COM 63902E106 466 40700 SH Sole 27500 13200 NAVARRE CORP COM 639208107 172 40000 SH Sole 40000 NORTECH SYS INC COM 656553104 151 19000 SH Sole 18000 1000 ORTHOVITA INC COM 68750U102 1060 255950 SH Sole 126150 129800 PATTERSON COMPANIES INC COM 703395103 500 14200 SH Sole 2000 12200 PEMSTAR INC COM 706552106 4032 1947950 SH Sole 679000 1268950 PENTAIR INC COM 709631105 375 9200 SH Sole 4700 4500 PFIZER INC COM 717081103 1908 76579 SH Sole 15100 61479 POKERTEK INC COM 730864105 1390 116250 SH Sole 12500 103750 POSSIS MEDICAL INC COM 737407106 168 16500 SH Sole 13500 3000 POWERWAVE TECHNOLOGIES INC COM 739363109 981 72750 SH Sole 33300 39450 PRIDE INTL INC DEL COM 74153Q102 480 15400 SH Sole 5500 9900 PROCTER & GAMBLE CO COM 742718109 214 3720 SH Sole 3720 PRUDENTIAL FINL INC COM 744320102 303 4000 SH Sole 2500 1500 PW EAGLE INC COM 69366Y108 7797 280482 SH Sole 194982 85500 QUOVADX INC COM 74913K106 603 188950 SH Sole 21350 167600 QWEST COMMUNI CATIONS INTL IN COM 749121109 776 114153 SH Sole 45500 68653 REGIS CORP MINN COM 758932107 1620 46984 SH Sole 9250 37734 RIMAGE CORP COM 766721104 3349 148315 SH Sole 57600 90715 RITA MED SYS INC DEL COM 76774E103 4294 1087050 SH Sole 359450 727600 ROCHESTER MED CORP COM 771497104 319 25000 SH Sole 25000 ROCKWELL MEDICAL TECH COM 774374102 3778 455200 SH Sole 160000 295200 RUSH ENTERPRISES INC CL A 781846209 490 27900 SH Sole 17500 10400 SECURE COMPUTING CORP COM 813705100 1366 118350 SH Sole 18200 100150 SONIC INNOVATIONS INC COM 83545M109 188 37500 SH Sole 37500 SPECTRA NETICS CORP COM 84760C107 1186 100300 SH Sole 57000 43300 ST JUDE MED INC COM 790849103 4594 112048 SH Sole 8000 104048 STELLENT INC COM 85856W105 3645 307300 SH Sole 87800 219500 SUMTOTAL SYS INC COM 866615107 480 95081 SH Sole 18423 76658 SUPERVALU INC COM 868536103 709 23000 SH Sole 6000 17000 SURMODICS INC COM 868873100 956 27050 SH Sole 11625 15425 SYNOVIS LIFE TECHNOLOGIES IN COM 87162G105 3764 367550 SH Sole 220300 147250 TARGET CORP COM 87612E106 749 14400 SH Sole 14400 TCF FINL CORP COM 872275102 1057 41050 SH Sole 6000 35050 TECO ENERGY INC COM 872375100 241 14950 SH Sole 7650 7300 TENNANT CO COM 880345103 845 16150 SH Sole 4950 11200 TEXAS INSTRS INC COM 882508104 536 16500.35 SH Sole 500 16000.35 THIRD WAVE TECHNOLOGIES INC COM 88428W108 832 265850 SH Sole 125850 140000 TVIA INC COM 87307P101 915 324500 SH Sole 74500 250000 UROLOGIX INC COM 917273104 2184 615225 SH Sole 272175 343050 UROPLASTY INC COM NEW 917277204 409 174768 SH Sole 149066 25702 US BANCORP DEL COM NEW 902973304 1370 44926 SH Sole 14884 30042 UTEK CORP COM 91759P106 156 12500 SH Sole 12500 VITAL IMAGES INC COM 92846N104 20087 589390 SH Sole 229100 360290 WELLS FARGO & CO NEW COM 949746101 351 5500 SH Sole 1700 3800 WPT ENTERPRISES INC COM 98211W108 291 39600 SH Sole 25000 14600 WYETH COM 983024100 210 4324 SH Sole 4324 XCEL ENERGY INC COM 98389B100 204 11225 SH Sole 2400 8825 YOUBET COM INC COM 987413101 164 30000 SH Sole 30000 ZIX CORP COM 98974P100 1734 1187400 SH Sole 315700 871700 TOTAL VALUE 192851 DATA RECORDS 158 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED 0