I have owned this for a few years (at a loss) and am glad to see some positive events:
Chesapeake Securities Research Corp. Issues a Strong Buy
Recommendation on FastComm
BALTIMORE, Jan. 20 /PRNewswire/ -- The following is being issued by Chesapeake Securities Research Corp., a member
of the National Association of Securities Dealers, CRD number 14161:
Chesapeake Securities Research Corp., a Baltimore-based boutique research brokerage house, has issued a Strong Buy
Recommendation on FastComm Communications Corp. (OTC Bulletin Board: FSCX) at $3.03 per share on January 10, '00.
FastComm is a total system solution provider. It designs, develops and manufactures an easily installed, very price and
performance competitive family of network access products. These products reduce multi-protocol network environments to a
single seamless transport by using a combination of frame relay access devices (FRADS), routers and switches and
communications controllers (CCs).
* The projected March/April 2000 rollout of FastComm(TM)'s new
ChanlComm(R) 7790 CC should create increased and accelerating near-term
revenue growth.
* FastComm's 7790 CC has more high speed comm. lines than IBM's and
Cisco's CCs while providing compelling price and operating expense
savings. These combined performance and economic benefits should
enable FastComm, over the next 3-4 years, to take a "small 5-7% bite"
out of the $3 billion IBM mainframe worldwide CC market now dominated
by IBM and Cisco Systems.
* Profitability is projected to occur in April, the last month of FYE
(4/30) 2000. Chesapeake projects sales to grow from '99's $4.7 to an
estimated $9.1 million by 4/30 2000, $28.5 million in 2001 and
$58.4 million in 2002. Positive and significant earnings-per-share
growth are projected in fiscal 2001 and 2002 of, respectively,
$0.34 and $0.76 (on a LCF basis).
* 12-Month Target Price Is $9 - $12 Per Share. In order to apply
for re-listing on NASDAQ Small Cap, FastComm must maintain a
$50 million market cap for THIRTY (30) consecutive trading days, which
requires a minimum closing price of $2.43. This NASDAQ small cap
re-listing application requirement could be satisfied sometime around
mid-February.
For a copy of the full 17-page FastComm Communications Corporation's Strong Buy Recommendation, please contact
Chesapeake Securities at 410-296-7740. |
