BancAmerica Robertson Stephens Initiates Coverage Of Lightbridge, Inc.
SAN FRANCISCO, Jan. 8 /PRNewswire/ -- BancAmerica Robertson Stephens research analyst Marianne Wolk initiated
coverage today on Lightbridge, Inc. (Nasdaq: LTBG - news) with a Buy rating.
''We believe Lightbridge is an exciting growth story offering significant upside potential to our earnings forecasts of $0.48 for
1998 and $0.70 for 1999, average annual growth of 58%. With two-thirds of its revenues recurring, we believe Lightbridge
offers investors above-average visibility and significant growth potential,'' said Wolk.
Lightbridge is the leading provider of customer activation solutions to the U.S. wireless industry. Wolk estimates the company
will qualify 38% of all applicants for service in 1997 with its best of breed network. In the short-term, Lightbridge should
benefit from wireless carrier competition and a mix shift to higher margin fraud and churn management software. Wolk
forecasts software and consulting will contribute almost 50% of revenues by 1998. Long-term, Wolk sees significant growth
from wireline and convergent carriers. With communications deregulation encouraging numerous new entrants and driving
new/existing carriers to enter and compete in each other's markets, these macroeconomic trends play to Lightbridge's
strengths: proven expertise in legacy OSS interfaces; reduced customer acquisition costs; reduced fraud; and speedier time to
market.
BancAmerica Robertson Stephens is a leading international investment banking firm focused on emerging growth companies.
The firm's 47 senior research analysts cover over 500 companies.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security.
Although opinions and estimates expressed herein reflect the current judgment of the Firm, the information upon which such
opinions and estimates are based is not necessarily updated on a regular basis; when they are, the date of the change in
estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains
forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from
the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited
to, those discussed in ''Investment Risks.'' BancAmerica Robertson Stephens from time to time performs corporate finance
services for some companies described herein and may occasionally possess material, nonpublic information regarding such
companies. This information is not used in the preparation of the opinions and estimates herein. Facts and other information
discussed have been obtained from sources considered reliable but are not guaranteed. BancAmerica Robertson Stephens, its
managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may
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discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of Bank of America NTSA, and
are subject to investment risk, including possible loss of any principal amount invested.
SOURCE: BancAmerica Robertson Stephens |
