Rick, COGIF has 39 million in cash even after the Icotech acquistion. ALYD reports having 7.9 million in cash (in contrast) Yet ALYD has a 100 million dollar higher market cap!
Over the last three years, a total of 500 million lines of code, including 100 million related to the year 2000 problem, have been converted using Cognicase toolsets and processes.
Congi-2000 supports cobol, c/c++, easytrieve, focus, ideal, natural, powerhouse, pl/1, rpg and SAS programming languages.
The ICOTECH and Solusys added more than 400 professionals to their critical mass of IT experts and resources.
Icotech had 16 million in revenues for the 10 months ending in 1997.
Hexagon another recent acquistion made 10 million in 1997.
Cognicase paid 4.9 million in cash and 255,044 shares wich now brings down their cash to about 34 million or so.
"Cognicase expects that a majority of its revenue in 1998 will result from information technology systems integration and consulting services unrelated to the Year 2000 problem. However the company still expects to generate substantial revenues from products and services that address the Year 2000 problem." Note this recent press release:
March 12, 1998--COGNICASE (TSE:COG. - news; NASDAQ:COGIF - news) COGNICASE Inc. announced today that it has been awarded several new important Year 2000 software compliance contracts by Bombardier Aerospace, 3M, Purolator, Provigo and Keystone Mercy Insurance.
The total value of these contracts is approximately Cdn$6,000,000. COGNICASE plans to complete the majority of the work associated with these projects before the end of 1998. COGNICASE and Icotech, its wholly owned subsidiary, also announced major software consulting solutions and services contracts with AAFC (Agriculture and Agri-Food Canada), Canadian National, Canam Manac Group, Department of National Defense of Canada, Hydro-Quebec, Laurentian Bank, National Bank of Canada and Videotron for an estimated value of Cdn$8,000,000
GOLDMINE IMO,
Risky |
