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Technology Stocks : INSS - International Network Services
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To: Peter Moyer who wrote (10)11/2/1996 5:08:00 AM
From: craig crawford   of 446
 
Peter Moyer,

I gather from your previous posts that you work for this company. What I don't understand is why you don't seem to know who your company's competitors are. You also had a post asking about an earnings announcement. If you work for INSS wouldn't it be easier to find out within the co. about an earnings announcement rather than ask people here? This is not an attack- just curiosity on my part.

As to INSS's competitors- A company called XLConnect (XLCT) is similar to this one (network services). It went public at $15 or $16 a couple of weeks ago and closed at $27 7/8. It just reported earnings yesterday up 86% on a 51% increase in revenues. I read their prospectus which showed an increase in revenues for 8 straight quarters (9 counting yesterdays report). They have been profitable for all but 1 out of these 9 Q's (I think sometime in '94 they had a slightly lower quarter). XLCT has about 16.2 million shares outstanding and offered 2.9 million. It closed at $29 yesterday.

An interesting side note- XLCT is a subsidiary of Intelligent Electronics (INEL). INEL still owns 13.2 million shares of XLCT. At $29 a share 13.2 million equates to approx $383 million. XLCT used the $39 million from the offering to pay for indebtedness to INEL. $383 + 39 million = $422 million. You can buy all of Intelligent Electronics stock for about $284 million (35 million outstanding INEL times $8 1/8 closing as of Nov. 1)

INSS is a good company with a bright future but if you want a good value in a network services company you might want to check out XLCT. Of course it is much cheaper to buy XLCT by purchasing INEL. XLCT has not had the same run-up that INSS had because they went public right when the NASDAQ started to have trouble a couple of weeks ago. If they went public a little earlier they might have touched $50.

Hope I wasn't too long, and good luck to all in INSS and XLCT. They are both great companies in a hot industry.
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