OSCR anyone?
Been watching this a couple days and its gone up pretty fast. Did a little DD which verified that it was basically legit. Unfortunately, most references were in Hebrew. Can't verify the earnings, but here's the release. Wish I bought at $2 when I noticed it first. Surprised it hasn't been mentioned anywhere on SI before (that I can find.)
Tuesday June 9, 7:39 pm Eastern Time
AcTVnet sees 98 sales of $120mln/EPS $1.20
NEW YORK, June 9 (Reuters) - AcTVnet expects pretax income of about $10.5 million, or $1.20 per share, on sales of
about $120 million in 1998, said the Israeli company's founder, Israel Rosenfeld, to Reuters on Tuesday.
''Net income before taxes will be about seven percent of the $120 million we expect in sales for 1998,'' said Rosenfeld. The
company now has sales of about $2 million per month.
AcTVnet, based in Tel Aviv, installs local area networks (LANs) to provide Internet and interactive television access to
apartment buildings and companies.
In addition, the company said in a statement that WorldCom Ltd.-Israel, an Israeli unit of WorldCom Inc. (WCOM - news),
ordered $60 million of AcTVnet's E-fax equipment.
E-fax allows faxes to be sent to any location in the world at 15 pages per minute over a LAN or the Internet, avoiding
traditional telephone costs.
Rosenfeld said the company ''is increasing its workforce to about 600 employees over the next few months from 250'' in
anticipation of the WorldCom and other orders.
AcTVnet, which is about one year old, operates in Israel, the United States and the United Kingdom and expects to begin
installing LANs in Jordan in the near future.
On the over-the-counter bulletin board, AcTVnet trades at $2 per share.
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