Portal Software, Inc. (PRSF) Message Board

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Technology Stocks : Portal Software, Inc. (PRSF)

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To: Stephen M. DeMoss who wrote (263)	8/24/2002 4:20:55 PM
From: Geoff Altman	Read Replies (1) of 318

Stephen; Sorry it's taken me so long to respond but I've been busier than a one armed paper hanger..... The earnings report was in line with estimates but it's hard to figure because they used Pro Forma numbers. That means if they included the cost of severance packages etc.the earnings report would have scared the crap out of everyone lol. They also announced a pilot program with Visa International which bodes some potential. Unfortunately, unlike other billing companies, Portal has the habit of releasing deals and never giving any clue about the potential income they may generate. The good thing about it for the long term holder is that it means that Portal is diversifying more......Since they've announced so many other programs and deal in the past that never seem to add anything to the bottom line I take the news with a large grain of salt (about 1/4 a shaker)... Now the bad news is that they've gone over 30 days below a buck and I think technically they should already have an E (or is it D?) attached to the symbol which bodes poorly for the stock price. Of course this also means that they can be delisted in about 2 more months unless they get an extension from the NASD. This also makes them a serious buyout candidate but I'll believe that when I see it. To cost cut further they also announced that they'll be moving their engineering div to India which may be a very smart move on their part since India has a wealth of IT types. I dumped the shares that I picked up recently the day they reported for a small profit of about a nickle cause I didn't like the way it was trading. I almost puked when I saw the after hours run up, it peaked at about .80 before it started coming back down. If I hadn't done well with some HIFN Calls that I sold, bought at .2 and sold at .5 about 2 weeks later, I would have been totally bummed for the day. Well, I've never claimed to be a great trader......... I highly recommend calling the company to see if they'll release anything more about the Visa thing...... Regards Geoff

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