NANDA, JGIBBS, JOHN & EVERYONE
After reading an article on this company in the washington post it has me very interested!
Technet Computer Services, Inc. (Technet) specializes in systems integration and development of software products and turnkey solutions for a wide range of industries. Founded in 1989, we have software development centers and engineering laboratories in Vienna, Virginia, Iselin, New Jersey, and Madras, India. These facilities are equipped with state-of-the-art hardware, operating and database management systems, interactive software development tools and communication equipment.
Our sophisticated offshore development facility in India has a dedicated, high-speed satellite link to the U.S. With a team of highly-skilled professionals, we have developed high-quality software products at relatively low cost and are able to pass the savings on to our clients
Doesnt this sound familiar?
The company that owns technet is MVSI, MVSI had a recent bad quarter but it looks like things might be changing for the better, lets put our heads together on this one and do some digging! This company has a sub 100 million dollar market cap!
Heres the article that caught my eye:
MVSI seeks steady growth through year-2000 retooling
The Washington Times
Mon, Feb 23 1998
MVSI Inc., a Vienna information technology company, is just one of many relatively unknown players in Northern Virginia's tech community.
But after creating the entire computer network for the MCI Center and making a serious entry into the Year 2000 computer restoration market, Paul Richter, the new president and chief operating officer of MVSI, says that anonymity won't last too much longer.
"Our goal is not to get incredibly huge quickly," said Mr. Richter, 42, formerly the firm's general counsel. "But we do want to get profitable, increase our value to shareholders and be far more aggressive in going after government contracts."
MVSI, a five-year-old company, sells software engineering and development and builds computers on contract.
Amid the diverse operations, however, one of the first tasks Mr. Richter will face is quite clear: establishing long-term profitability. Despite a 150 percent increase in revenues to nearly $40 million in its last fiscal year, earnings plummeted 89 percent to just over $100,000. The company then lost more than $563,000 during its October-December quarter.
"We were hurt quite a bit by the Asian crisis, foremost with our Canadian subsidiary {MVS Modular Vision Systems, a maker of robotic sensors used in manufacturing}," he said. "That market, which already had a long sales cycle, has dried up to a fair degree. This is part of why we're looking to expand in our other, more profitable areas."
One of those money makers is Year 2000 computer restoration work. Another MVSI subsidiary, Technet Computer Services, specializes in the actual reprogramming of computer code to recognize years that start with 20.
But unlike many fledgling tech firms, Mr. Richter says MVSI's Y2K business is not a johnny-come-lately operation, and the client list draws heavily from the fashion industry, including L'Oreal, Mabelline and Ralph Lauren.
"We're not a body shop. We have an established software team that's had products for 10 years and has a lot of capabilities," Mr. Richter said. "We particularly excel at warehouse and inventory management, and we're aggressively promoting those capabilities
Now look at these contracts>go back to the y2k thread,
Risky |
