STRONG PROSPECT FOR QUICK TURN-AROUND
Access Solutions International (ticker: ASIC)
650 Ten Road, North Kingstown, RI 02852
Ph: 401-295-2691
ABOUT THE COMPANY
ASIC was about $4.00 just 19 months ago and has a nineteen month high of $4.00. It was a NASDAQ company that volunteered for delisting last August to OTC BB because its stock price fell below the NASDAQ requirements. It just came up off the 52 week low (in Dec 98) in anticipation of a favorable earnings report due out soon.
-ASIC designs, develops, assembles and markets mainframe information storage and retrieval systems, including both software and hardware, for large companies.
-FY97 (ended June 30, 1998) ASIC showed a negative ($1.05) EPS. This was primarily due to their merger activities with PCLP in 1997. However, in Aug 1998 that merger was dissolved and ASIC recently resumed doing business on their own. The most recent quarter showed a loss of only (.07) EPS.
The CEO stated "...We are pleased that our cost-cutting program has enabled us to achieve a small operating profit for the quarter ended June 30, 1998."
ASIC says they have now re-signed contracts with BANK OF BOSTON, and The New York Stock Exchange (NYSE).
There are other significant events that could bring some very positive cash results for ASIC. More on those things can be found on their Web site along with SEC reports and a lot more detail on the company and the officers.
accessol.com (Web site updated Feb 18, 1999)
The next earnings announcement is expected any day and indications suggest that ASIC is making a successful turn-around.
ASIC was in the $4.00 to $5.00 range when they merged with PCLP. Can it get back to that range this year? Could be worth checking. Right now it is under 20 cents.
Total O/S about 4 million and 3.2 million in the float.
News is expected very soon.
Check the Web site: accessol.com (Web site updated Feb 18, 1999) |
