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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?
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To: DD™ who wrote (1035)2/9/1998 2:39:00 PM
From: Bankceo   of 1936
 
I am new to the stock and bought some today after the conference call. Management's purchase of the insurance consulting firm was very cheap--a few hundred K---and accretive in year one. They said that backlog was "Significantly" above last quarter; which is positive. I asked them about the $14MM contract and they are booking $2.8MM per quarter starting last quarter--so they are not playing games with the numbers. They sounded positive--and that 1998 will be the peak for Y2K business. They have a good position in the overseas market for Y2K. I think this is a $12 company some time in 1998--based on a PE of 30 and earnings of $.40. Also, their margins are improving and it sounds like they are being conservative on backlog estimates to prevent a hype of the stock. I was impressed enough to take an initial position. In my judgement, for the Y2k companies in general, the next quarter is key to get business moving to warp speed.
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