Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 244.06

-9.8%

Nov 21 9:30 AM EST

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To: Stock Watcher who wrote (2217)	2/5/1999 10:42:00 PM
From: Jeffrey Beckman	Read Replies (1) of 52051

SW and all, I thought I'd bring Mitek Systems (MITK 1.72/1.75)to the table, one I originally heard of from Gary Grobbel (at .96). Of note, they recently announced a partership with IBM, whereby IBM will license their Checkscript character recognition engine for use in IBM's Image-Plus intelligent forms processing. This came on the heels of some very aggressive statements by management, in which they defined strategies and an intention to double revenues in '99, with similar growth for the next few years. biz.yahoo.com The first suggestion that they are executing came out last week in the 1Q earnings. Revenue of 2.2M vs 1.3M. A profit of .04 vs a loss of .14EPS. The stock had achieved a plateau around 1.3 during the weeks preceding earnings, after a steady rise from under 68 cents to this point at the end of the year and first week of Jan. Since earnings, there has been steady progress, and the stock hit a 52 week high today. Yahoo shows approx. 11M shares outstanding, 8M in float. I think it's at a decent entry point, at least for patient investors (g). Jeff

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