I'm not going to sell this one till around 35-40. I'm fully margined on this also. That really makes it sweet. The reason I say 35-40 is that is my price target. If you look at the contracts. Well shoot I'll just go do some cuting, and paste it here.
From the second quarter report:
Second Quarter Developments
Several major developments occurred during the second quarter, which are expected to add to Magic's growth in the future. The Company acquired a majority
interest in Magic Software Thailand (''MST'') to further exploit opportunities in the Asian Pacific region. Magic's 70% interest in MST comes on top of the
controlling interest (80%) the Company purchased in Magic Software Japan. Japan has made a sizeable contribution to the Company's financial results in both the
first and second quarters of this year.
Another significant development during the quarter was Magic's selection by IBM to build internal business applications for the AS/400 in Brazil. Because of Magic's
ability to complement and co-exist with native AS/400 technologies, and easily extend applications to the Internet, IBM is now shipping a Magic CD with each new
AS/400 sold in that country. This development should help Magic increase its AS/400 sales in Brazil, as well as add credibility to the Company's efforts to grow
markets in other Latin American countries.
Also during the second quarter, Magic introduced Magic Web Online, its innovative new Java-based technology that brings interactive processing to Web
applications to help simplify Web page updates and increase business' transaction processing capacity. Magic Web Online is included in the new Magic Enterprise
Edition V8.3, as well as in Magic's awarding-winning e-commerce solution, eMerchant(TM).
In addition, Magic continued to add new, sizeable corporate accounts during the second quarter. In Spain, Magic signed a major new deal with El Corte Ingles, one
of the country's largest systems integrators. In Taiwan, FGIT (the country's largest security investment fund management company) will use Magic to develop and
deploy an e-commerce system for Web-based real-time trading of investments and securities.
Other new deals included General Electric Financial Assurance (U.S.); Allium, SEPEPN and CNOUS:/Civitas (France); GetPak and Hapit (Netherlands);
Marketing Tools & Technologies (Italy); and the Inverclyde District Council (United Kingdom). In addition, Magic Software Thailand contributed by closing major
deals with Loxley Information Services Co., Ltd. to build a comprehensive billing solution, Alpha Office Automation to develop a high school library management
system, and TIP and Associate to provide a jewelry business package.
I strongly encourage you all to find a re entry point, today. |
