Stillman Equity Research Announces Investment Opinion on Netsol International Inc
SAN DIEGO--(BUSINESS WIRE)--June 16, 1999--
Stillman Equity Research Reiterates Strong Buy
Recommendation With $6.00 Price Target
Howard Stillman, a senior equity analyst with more than 25 years of experience in the securities industry, has reiterated strong buy recommendation with $6.00 price target. (OTC BB:NTWK) A former director of research for two NYSE member firms, Stillman is also approved as a supervisory analyst by the NYSE. He is now an independent securities analyst with his own firm, focusing on small capitalization and special situation issues. -0- *T
Research Profile June 10, 1999
Howard Stillman Investment Analyst 760/737-9580
Strong Buy Price Objective: $6 Netsol International Inc. (formerly Mirage Holdings Inc.) (OTC BB:NTWK)
Capitalization (March 31, 1999) Long term debt: nil Common stock: 7,202,065 shares outstanding Float: 1,100,000 approximate Price: 3 1/8 Price range: 6 high, 2 low Fiscal year: June 30, 2000 Est. revenues: $12 million Est. earnings per share: $0.25 P/E ratio: 12.5x
1. Substantial growth expected in fiscal 2000, with sales expected
to nearly triple to 12 million and earnings of $0.25 per share.
2. Serious negotiations are underway to acquire a software company
that would add substantial revenues and profits.
3. An expanded strategic alliance with ICOM INFORMATIQUE of France, a leading European software supplier, could potentially exceed $3
million next year.
4. Additional contracts with Mercedes Benz Europe expected to
aggregate over 42.5 million.
5. A new strategic internet/e-commerce alliance with a U.S. based
public company.
6. New software to identify and resolve Y2K problems on personal
computers to be introduced this summer.
*T -0- Summary and Conclusion
A skilled and experienced management team has moved rapidly on the fast track for growth, as a specialty software development and service company operating in world markets. By creating a strong format through its successful relationship with Mercedes Benz Finance, Netsol has launched an aggressive expansion effort by enhancing its customer base through both new market penetration and acquisitions. Accomplishments to date set the stage for enormous growth potential in the year ahead. At current price levels, the shares have superb potential for risk oriented investors seeking substantial capital gains.
Operations
Products are developed in Pakistan by highly skilled and talented software engineers, with labor costs at just 10% of their U.S. counterparts. From their well received auto leasing software with Internet capabilities for Mercedes Benz. The company now serves general industry and entry into the consumer field is planned. Netsol England markets and services company products. A U.S. presence will be established shortly.
The recent ISO 9001 certification awarded its Pakistani operation provides prestigious accreditation to the company and such recognition should provide a major contribution to business growth in international markets. The ISO 9001 designation stands for quality, consistency and professionalism. Netsol is the first Pakistani company to achieve such recognition.
Construction of a new 20,000 sq ft development facility in Pakistan is underway and will ultimately be expanded to 100,000 square feet as the company builds its infrastructure to support its growth prospects. This could potentially employ up to 1,000 developers and programmers.
Outlook
Outsourcing and e-commerce are the buzz words for the future and Netsol is tuned in to these needs. The management team draws its considerable experience from prior official positions with corporate giants like Arco, Mercedes Benz Finance, BHP International and Pepsi Cola. The stage has been set to blend their talents to provide the ingredients necessary to make Netsol a superior operating performer as we enter the new millennium.
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CONTACT:
Internet Finance.com Inc.
David Bahr, 619/759-7958
T A P has received 30K shares of NTWK (formerly MGHI) from Clearweather Investments Ltd. for services provided for a period of 6 months For a complete
write-up on other Turn Around Picks go to T A P profile for url. |
