Cary, looking forward to your DD and anyone elses. You're right, I can't cover every company. Here's a look at CRYSF:
CRYSTAL SYSTEMS SOLUTIONS - CRYSF
WEBSITE : cry-sys.com
This is an Israeli company that develops and markets conversion solutions for mainframe computer systems. It is one of three subsidiaries of Formula Systems Ltd., which is trading on the Nasdaq National Market.
Jan. 31, 1997 IPO of 3 million Ordinary Shares of Common Stock at a price of $7.50. Trades at a 24% Discount PE Multiple of 27.4 X, vs. the 36.1 X average multiple at which the Software & Services SubIndustry is priced. This is a small company. There are about 11 million shares and the float is only 4 million.
EARNINGS
Fourth quarter 1997 revenues increased to a record $7.724 million from $1.760 million in the same quarter last year. Net income for the fourth quarter of 1997 increased to a record $1.727 or $0.15 per share as compared to a loss of $(93,000) or $(0.01) per share in the same period in 1996.
Revenues for the year of 1997 increased by 443% as compared to 1996. For the year ended 1997, revenues were $24.375 million compared to $4.486 of 1996. Net income for 1997 was $4.906 million or $0.44 per shareas compared to a loss of $(841,000) or (0.12) per share for last year.
NEW YORK, Feb 12 (Reuters) - Gruntal & Co said it initiated coverage of Crystal Systems Solutions Ltd with a strong buy rating. Crystal is well-positioned to compete in the multibillion-dollar market for converting applications to deal with the unique challenges presented by the upcoming millennium
problem and the European Commission's stipulations regarding a single Euro currency. A 12-month target price of $38 was set.
Other analysts offering coverage:
Cruttenden & Company
Oppenheimer & Co Inc
UBS Securities, Inc.
Short Position
viwes.com
Month Shares Short Avg Daily Volume S/A
02/98 284,990 107,238 2.66
01/98 216,226 92,059 2.35
12/97 356,010 97,960 3.63
11/97 515,259 174,950 2.95
CRYSTAL SYSTEMS and the EURODOLLAR CONVERSION ISSUE (from the co. homepage)
According to industry analysts, the next large conversion challenge which will face large corporations worldwide is the move to a single European currency called the EURO. This conversion is known to be imminent; although exact dates have been established, they are probably subject to change.
Crystal Systems Solutions has already begun researching the EURO conversion problem and, using the proven C-MILL tools and methodology, has developed C-EURO to support the EURO conversion effort. Crystal Systems Solutions is currenctly executing EURO conversion projects at a number of leading European financial institutions.
Crystal Systems Solutions is confident in its ability to be a major performer in the EURO conversions to be performed during the coming years.
Customers include:
FORD Motor Company
Kraft Foods
Farmer's Insurance Group
KeyCorp
Reynolds Metal
United Technologies
Pratt & Whitney
Philips Petroleum
Ralston Purina
Eastman Kodak
Crystal Systems has several important alliances including its relationship with Ernst and Young:
ey.com
Inside Wall Street feature of Business Week - June 97
businessweek.com |
