Obviously INFD (Nasdaq 1.35) does not attract much attention....no posts here...at least not yet (GGG). Let me point out a few things...
1st qtr release:
FAIRFAX, Va., May 16 /PRNewswire/ -- Infodata (Nasdaq: INFD - news), a leading web-based content management and e-business company, today reported that revenues for the first quarter ended March 31, 2001 were $3.62 million, a 33 percent increase over revenues of $2.73 million for the first quarter of 2000. The first quarter revenues also reflected a 19% growth over the fourth quarter of fiscal 2000. Infodata reported a net income of $470,000 for first quarter 2001 compared to a net loss of $182,000 first quarter 2000 and a net loss of $1.28 million for the fourth quarter 2000. The first quarter net income included a gain of $1,075,425 from the sale of common and preferred shares of Buckaroo.com, Inc.
Earnings per share for the first quarter of 2001 was $0.10 per share, compared to earnings of ($0.04) per share for the first quarter of 2000 and to earnings per share of ($0.27) in the fourth quarter of fiscal 2000. Infodata reported an operating loss of $601,000 in the first quarter. The operating loss is due in part to certain engagements where the company did not recognize revenues for services rendered during the quarter, as collection became doubtful. Additionally, other new engagements that were expected have been delayed until later in the year.end
They would have been operationally profitable except for some accts w/dot coms that did not pay up. they no longer service any clients of that persuasion...only blue chips and F500 and F1000 companies for the most part. also, KEY in their 10q filing but not in the press release:
'During the latter half of 2000, the Company commenced the refocusing of its
efforts on the design, development and marketing of web-based knowledge
management and e-commerce solutions services to established government and
commercial customers. The gross profit margins associated with such contractual
activity, which now constitutes and will continue to constitute an increasing
source of the Company's revenues, are higher than the gross margins associated
with the third-party software sales that are expected to decline as a percent of
revenue in the future. As a result of the Company's efforts, commenced during
mid-2000 and substantially completed in January 2001, to curtail expenses,
particularly through a reduction in force and decreased lease and marketing
expenses, and the above-referenced increase in web-based knowledge management
contractual activities, the Company expects that it will achieve income from
operations and net income during the current quarter ending June 30, 2001.'
Now, be aware they have to replace existing debt and that is also covered in the q. but rev is rising rapidly, 1st qtr would have been profitable except for some dot coms, and there is deferred rev carried forward of over $600k. Plus they are profitable in this present qtr.
Kicker is a press release back in Feb. Here it is:
Infodata Signs $26 Million Contract to Implement a Web-Centric Content Management System
FAIRFAX, Va., Feb. 27 /PRNewswire/ -- Infodata (Nasdaq: INFD - news), a leading provider of web-based content management and e-business solutions, has received a signed $26 million contract from a U.S. Government Agency. Under the terms of the contract, Infodata will design, implement, deploy, and support a complex web-centric content management system to automate the process of publishing vital information to the web. Infodata as the prime contractor is leading the implementation team consisting of BAE Systems, CTX Corporation, and Technology Associates. Documentum (Nasdaq: DCTM - news) and IBM (NYSE: IBM - news) will also provide support for this contract.
``Infodata has over thirty three years of experience implementing large- scale content management systems for the government and commercial marketplace,'' said Steve Samowich President and CEO of Infodata Systems. ``This project encompasses the entire spectrum of Infodata's core competencies including systems analysis, information security, large-scale systems design, software engineering, database development, and web content management. ''
The contract provides for a base period of three years, valued at $21 million, and two option years, valued at a total of $5 million.
The Company has been working under a letter agreement with the client since August 2000 and preliminary information relating to the contract was disclosed in SEC Form 8-Ks filed by the Company on June 21, 2000 and December 29, 2000.end
Here we have INFD as LEAD and subbing to them are companies like IBM, BAE SYS etc...and the customer is Uncle Sam.
This is a significant given revenue base to operate from over the next few years. And a small acq of an intelligence company over the winter is also paying off. Hre is a quote from the year end release:
``I anticipate our e-Business and knowledge management business revenues to grow roughly 50% in 2001 over 2000 and revenues for our U.S. Intelligence community practice, which increased 43% last year, to increase in excess of 90% this year as a result of a substantial strategic contract awarded to the Company in 2000 as well as our increasing penetration into the information warfare business area.''end
Now there are only 4.73 shares out here and i think they will be able to replace their financing...that environment is easing each day. It is my impression that the matter should be resolved soon so if you are interested in this situation i would suggest you do a little r&d in the meantime. In my opinion INFD presents a potentially rewarding situation but that is only my opinion....and you should read the 10q and 10k and decide for yourself. |
