OT Profiting from bankruptcy filings
Just noticed this interesting tidbit today:
11:34 ET EPIQ Systems upgraded at Stifel Nicolaus (EPIQ) 18.87 +1.07: Stifel Nicolaus upgrades to Buy from Mkt Perform, as they believe the co signed two large Chapter 11 bankruptcies last night (MIR and LOR) that should aid its outlook for 2004; in addition, firm says intra-quarter data suggests personal bankruptcy filings will increase about 10% in Q2, more than their original expectation of 6-8%; target is $20-$22. www.briefing.com
I had not previously been aware of EPIQ.
Here's a quick excerpt from their Yahoo profile biz.yahoo.com
Business Description:
EPIQ Systems, Inc. is a national provider of technology-based products and services to law firms and attorneys working in the federal bankruptcy system and to companies that have filed for bankruptcy reorganization. Customers implement the Company's solutions to administer bankruptcy cases of all sizes and configurations. The Company's products automate various administrative tasks pertaining to bankruptcy claims, assets, financial records and other data associated with liquidations and reorganizations. The Company's services enable customers to organize and manage their databases of case information, to prepare notices and mailings and to fulfill their additional responsibilities.
More from Multex: Expanded Business Description
Financial Summary
EPIQ develops, markets, licenses and supports internally developed and proprietary software products for Chapter seven and 13 bankruptcy trustees, and other users of the federal bankruptcy system. For the three months ended 3/31/03, revenues rose 63% to $14.6 million. Net income also increased 25% to $2.3M. Results reflect growth in the chapter seven bankruptcy services unit, partially offset by $1.5 million in acquisition related expenses.
I'm adding it to my prospect list. |
