13F-HR 1 q30713f.txt PCM 13F 3Q2007 UNITED STATES SECURITIES AND EXCHANGE COMMISSION "Washington, D.C. 20549" Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 30-Sep-07 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: Place and Date of Signing: "Wayzata, MN" 31-Oct-07 Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this 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$1000) PRN MAT PRN CALL DSCRTN MGRS SOLE SHRD NONE ABBOTT LABS COM 002824100 202 3775 SH Sole 300 3475 ACCESS INTEGRATED TECHNLGS I CL A 004329108 420 75000 SH Sole 75000 A D C TELE COMMUNICATIONS COM NEW 000886309 368 18750 SH Sole 10500 8250 ADDVANTAGE TECH NOLOGIES GP I COM NEW 006743306 1015 125000 SH Sole 125000 AERO GROW INTL INC COM 00768M103 508 60525 SH Sole 30625 29900 AFFYMETRIX INC COM 00826T108 240 9450 SH Sole 3500 5950 AGILENT TECH NOLOGIES INC COM 00846U101 605 16400 SH Sole 7250 9150 ALLIANCE IMAGING INC COM NEW 018606202 1508 166400 SH Sole 100000 66400 AMER BIO MEDICA CORP COM 024600108 1033 1033000 SH Sole 850500 182500 AMERICAN EXPRESS CO COM 025816109 208 3500 SH Sole 1325 2175 AMERICAN TECH NOLOGY CORP COM NEW 030145205 627 165000 SH Sole 165000 AMTECH SYS INC COM PR $.01N 032332504 1395 108825 SH Sole 25350 83475 AMYLIN PHARMA CEUTICALS INC COM 032346108 1460 29200 SH Sole 15150 14050 ANTARES PHARMA INC COM 036642106 497 350000 SH Sole 350000 APPLIANCE RECYCLING CTRS AME COM NEW 03814F205 6902 809171 SH Sole 722071 87100 ASYST TECH NOLOGY CORP COM 04648X107 519 98100 SH Sole 37600 60500 ATS MED INC COM 002083103 24 13500 SH Sole 13500 BANK OF AMERICA CORPORATION COM 060505104 486 9677 SH Sole 4275 5402 BIOMIRA INC COM 09161R106 1967 2114800 SH Sole 1086900 1027900 BOEING CO COM 097023105 220 2100 SH Sole 1250 850 BOSTON SCIEN TIFIC CORP COM 101137107 1197 85775 SH Sole 28475 57300 BROOKE CORP COM 112502109 470 47500 SH Sole 47500 CALGON CARBON CORP COM 129603106 853 61100 SH Sole 15750 45350 CARDICA INC COM 14141R101 206 21550 SH Sole 8550 13000 CASH SYSTEMS INC COM 14756B102 998 175000 SH Sole 112500 62500 CBL & ASSOC PPTYS INC COM 124830100 687 19600 SH Sole 7650 11950 CERADYNE INC COM 156710105 322 4250 SH Sole 2150 2100 CERNER CORP COM 156782104 374 6250 SH Sole 2500 3750 CHESAPEAKE ENERGY CORP COM 165167107 257 7300 SH Sole 4500 2800 CIPRICO INC COM 172529109 1463 195100 SH Sole 89850 105250 CLARIENT INC COM 180489106 53 25000 SH Sole 25000 COLEMAN CABLE INC COM 193459302 1436 103750 SH Sole 77750 26000 COMMTOUCH SOFTWARE LTD ORD M25596103 564 285000 SH Sole 285000 COMMVAULT SYSTEMS INC COM 204166102 487 26300 SH Sole 3000 23300 COMPUTER TASK GROUP INC COM 205477102 442 101000 SH Sole 100000 1000 CONCEPTUS INC COM 206016107 1945 102500 SH Sole 51800 50700 CONOCOPHILLIPS COM 20825C104 465 5300 SH Sole 2200 3100 CONSOL ENERGY INC COM 20854P109 345 7400 SH Sole 4100 3300 CONSTELLATION BRANDS INC CL A 21036P108 748 30900 SH Sole 11750 19150 COST-U-LESS INC COM 221492101 231 20000 SH Sole 20000 CYTORI THERA PEUTICS INC COM 23283K105 2414 398970 SH Sole 167206 231764 DELPHAX TECH NOLOGIES INC COM 24712X106 87 96500 SH Sole 85000 11500 DELUXE CORP COM 248019101 938 25450 SH Sole 11225 14225 DIGITAL ANGEL CORP COM 253830103 59 45750 SH Sole 13000 32750 DIOMED HOLDINGS INC COM NEW 25454R207 261 300000 SH Sole 300000 DONALDSON INC COM 257651109 1178 28200 SH Sole 8600 19600 DOT HILL SYS CORP COM 25848T109 1552 512145 SH Sole 135370 376775 DYAX CORP COM 26746E103 183 50700 SH Sole 31200 19500 DYNEGY INC DEL CL A 26817G102 1177 127400 SH Sole 38000 89400 EBIX INC COM NEW 278715206 1055 21250 SH Sole 21250 EDAP TMS S A SPON ADR 268311107 517 90000 SH Sole 90000 ELECTRONICS FOR IMAGING INC COM 286082102 349 13000 SH Sole 6000 7000 ELIXIR GAMING TECH NOLOGIES I COM 28661G105 872 200000 SH Sole 200000 E M C CORP MASS COM 268648102 409 19650 SH Sole 3350 16300 ENDOLOGIX INC COM 29266S106 2892 733992 SH Sole 303150 430842 FALCONSTOR SOFTWARE INC COM 306137100 683 56700 SH Sole 11400 45300 FULLER H B CO COM 359694106 936 31550 SH Sole 13750 17800 GENERAL ELECTRIC CO COM 369604103 588 14200 SH Sole 11500 2700 GLOBAL TRAFFIC NETWORK INC COM 37947B103 1844 245800 SH Sole 52950 192850 GLOBECOMM SYSTEMS INC COM 37956X103 5162 389260 SH Sole 128000 261260 GRAINGER W W INC COM 384802104 315 3450 SH Sole 1750 1700 GRANITE CITY FOOD & BREWERY COM 38724Q107 3201 762231 SH Sole 420247 341984 GULFMARK OFFSHORE INC COM 402629109 727 14950 SH Sole 5150 9800 HEALTH CARE REIT INC COM 42217K106 904 20425 SH Sole 7400 13025 HEI INC COM 404160103 199 300952 SH Sole 124000 176952 HERSHEY CO COM 427866108 223 4800 SH Sole 2500 2300 HESKA CORP COM 42805E108 540 250000 SH Sole 250000 ILLUMINA INC COM 452327109 3724 71775 SH Sole 35325 36450 I-MANY INC COM 44973Q103 795 276000 SH Sole 275000 1000 IMMUNOGEN INC COM 45253H101 95 20500 SH Sole 8000 12500 INNOVEX INC COM 457647105 1105 891200 SH Sole 406600 484600 INSIGNIA SYS INC COM 45765Y105 6543 1371517 SH Sole 1092500 279017 INTEGRAMED AMER INC COM NEW 45810N302 744 60000 SH Sole 60000 INTELEFILM CORP COM 458147105 27 533649 SH Sole 464649 69000 INTERNATIONAL BUSINESS MACHS COM 459200101 345 2925 SH Sole 1100 1825 IOMEGA CORP COM NEW 462030305 786 150000 SH Sole 150000 IRIS INTL INC COM 46270W105 768 40000 SH Sole 40000 ISIS PHARMA CEUTICALS INC COM 464330109 8185 546770 SH Sole 214475 332295 ITERIS INC COM 46564T107 502 225000 SH Sole 225000 I-TRAX INC COM NEW 45069D203 6342 1647380 SH Sole 578900 1068480 JOHNSON & JOHNSON COM 478160104 489 7450 SH Sole 3550 3900 KYPHON INC COM 501577100 529 7550 SH Sole 3700 3850 LAKES ENTMNT INC COM 51206P109 1130 118550 SH Sole 69500 49050 LANDEC CORP COM 514766104 309 20000 SH Sole 20000 LIFECELL CORP COM 531927101 2362 62875 SH Sole 30725 32150 LIFECORE BIO MEDICAL INC COM 532187101 3878 300625 SH Sole 194325 106300 LINDSAY CORP COM 535555106 838 19150 SH Sole 7100 12050 LUMINEX CORP DEL COM 55027E102 460 30500 SH Sole 13050 17450 MANPOWER INC COM 56418H100 618 9600 SH Sole 2350 7250 MARATHON OIL CORP COM 565849106 473 8300 SH Sole 4100 4200 MATHSTAR INC COM 576801203 2030 1765672 SH Sole 718737 1046935 MATRIXX INITATIVES INC COM 57685L105 593 30000 SH Sole 30000 MEDTOX SCIENTIFIC INC COM NEW 584977201 1392 68082 SH Sole 60000 8082 MEDTRONIC INC COM 585055106 1235 21900 SH Sole 3750 18150 MERCK & CO INC COM 589331107 439 8500 SH Sole 8000 500 MICROTUNE INC DEL COM 59514P109 648 107600 SH Sole 55400 52200 MICRUS ENDO VASCULAR CORP COM 59518V102 457 25000 SH Sole 25000 MONOGRAM BIO SCIENCES INC COM 60975U108 2141 1497540 SH Sole 459050 1038490 MOSAIC CO COM 61945A107 1600 29900 SH Sole 13000 16900 MULTIBAND CORP COM NEW 62544X209 132 44000 SH Sole 44000 NATURAL HEALTH TRENDS CORP COM PR $.001 63888P406 724 327500 SH Sole 247500 80000 NATURE VISION INC COM 63902E106 350 140690 SH Sole 68500 72190 NAVARRE CORP COM 639208107 743 197500 SH Sole 127000 70500 NBTY INC COM 628782104 465 11450 SH Sole 4550 6900 NORTECH SYS INC COM 656553104 178 25000 SH Sole 24000 1000 NVE CORP COM NEW 629445206 564 18130 SH Sole 18000 130 OCULUS INNOVATIVE SCIENCES I COM 67575P108 1903 253700 SH Sole 125600 128100 ON2 TECH NOLOGIES INC COM 68338A107 634 546350 SH Sole 145500 400850 OPENTV CORP CL A G67543101 135 90950 SH Sole 16550 74400 ORTHOVITA INC COM 68750U102 2796 922700 SH Sole 351200 571500 OSHKOSH TRUCK CORP COM 688239201 418 6750 SH Sole 3800 2950 PATTERSON COMPANIES INC COM 703395103 595 15400 SH Sole 5000 10400 PENTAIR INC COM 709631105 418 12600 SH Sole 5600 7000 PETROLEUM DEV CORP COM 716578109 557 12550 SH Sole 3750 8800 PFIZER INC COM 717081103 1745 71419 SH Sole 15150 56269 POKERTEK INC COM 730864105 501 52075 SH Sole 10000 42075 POLYMET MINING CORP COM 731916102 1013 266000 SH Sole 200000 66000 PRIDE INTL INC DEL COM 74153Q102 678 18550 SH Sole 5750 12800 RCM TECH NOLOGIES INC COM NEW 749360400 1366 208600 SH Sole 132100 76500 REGIS CORP MINN COM 758932107 1292 40500 SH Sole 11450 29050 RESTORE MEDICAL INC COM 76128C100 329 210700 SH Sole 142700 68000 RIMAGE CORP COM 766721104 1729 77064 SH Sole 16950 60114 ROCHESTER MED CORP COM 771497104 908 50000 SH Sole 50000 ROCKWELL MEDICAL TECH COM 774374102 2584 453200 SH Sole 160000 293200 ROSETTA GENOMICS LTD SHS M82183100 1008 145000 SH Sole 33000 112000 RUSH ENTER PRISES INC CL A 781846209 1001 39500 SH Sole 31500 8000 SECURE COMPUTING CORP COM 813705100 114 11750 SH Sole 2500 9250 SIMTEK CORP COM NEW 829204304 222 54875 SH Sole 16725 38150 SOFTBRANDS INC COM 83402A107 2956 1555661 SH Sole 660250 895411 SPAN AMER MED SYS INC COM 846396109 475 25250 SH Sole 18500 6750 SPARTAN MTRS INC COM 846819100 859 51025 SH Sole 44500 6525 SPECTRUM BRANDS INC COM 84762L105 299 51500 SH Sole 50500 1000 ST JUDE MED INC COM 790849103 3812 86498 SH Sole 10650 75848 SUMTOTAL SYS INC COM 866615107 1834 313513 SH Sole 145112 168401 SUPERCONDUCTOR TECHNOLOGIES COM NEW 867931305 175 25000 SH Sole 25000 SUPERVALU INC COM 868536103 562 14400 SH Sole 3700 10700 SURMODICS INC COM 868873100 750 15300 SH Sole 7700 7600 SYNOVIS LIFE TECHNOLOGIES IN COM 87162G105 7333 339950 SH Sole 255600 84350 TARGET CORP COM 87612E106 331 5200 SH Sole 5200 TCF FINL CORP COM 872275102 778 29700 SH Sole 15700 14000 TENNANT CO COM 880345103 3193 65570 SH Sole 26400 39170 TEXAS INSTRS INC COM 882508104 428 11695 SH Sole 650 11045 THIRD WAVE TECHNOLOGIES INC COM 88428W108 2767 320600 SH Sole 158300 162300 UFP TECH NOLOGIES INC COM 902673102 514 100000 SH Sole 100000 UNION DRILLING INC COM 90653P105 583 40000 SH Sole 40000 UROLOGIX INC COM 917273104 845 454200 SH Sole 204000 250200 UROPLASTY INC COM NEW 917277204 2559 602102 SH Sole 437102 165000 US BANCORP DEL COM NEW 902973304 963 29609 SH Sole 12634 16975 VITAL IMAGES INC COM 92846N104 8984 460239 SH Sole 188500 271739 VIVUS INC COM 928551100 635 128000 SH Sole 125000 3000 WAVE SYSTEMS CORP COM NEW 943526301 340 185000 SH Sole 185000 WELLS FARGO & CO NEW COM 949746101 264 7400 SH Sole 1800 5600 WESTAFF INC COM 957070105 407 100000 SH Sole 100000 WESTMORELAND COAL CO COM 960878106 230 11500 SH Sole 4000 7500 WIRELESS RONIN TECHNOLOGIES COM 97652A203 6578 974605 SH Sole 434732 539873 WPT ENTER PRISES INC COM 98211W108 46 15979 SH Sole 15379 600 WYETH COM 983024100 434 9744 SH Sole 3550 6194 XOMA LTD ORD G9825R107 976 286100 SH Sole 168300 117800 ZIX CORP COM 98974P100 5822 3032150 SH Sole 1003250 2028900 ZOLTEK COS INC COM 98975W104 1264 28975 SH Sole 14025 14950 TOTAL VALUE 197692 DATA RECORDS 160 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED 0