IFSH DD:
O/S: 2.5M
Float: 1M
Bid: 2 7/16
Ask: 2 5/8
Preferred shares and common combined 2 months ago so, expect no growth in
the float for at least a year (they will be doing a "financing" at $5 once
the stock is over $6-7 but shares will be restricted for a year).
Book Value $3.54
IFS International Inc., incorporating the IFS International and NCI divisions,
develops, markets and supports software solutions for financial transaction
processing, serving domestic and international customers in banking, finance
and electronic commerce.
TPII is IFS International?s family of open architecture software products
for payment card ATM/EFTPOS terminal management, payment card authorization,
domestic and international transaction switching and management information.
The product also supports Stored Value Card (Chip card) reloads and was
heavily influenced by IFS?s large customer base and RDBMS technology with
the aim of meeting customers? business requirements into the 21st Century.
The Twin Safe Server combines an innovative software server and teller
application to support the ASCOM Twin Safe cash recycling device in retail
banking environments world wide.
Business Center? is NCI?s browser-based, networked system that meets
financial institutions business requirements of delivery channel management,
including teller, marketing, call center, platform and virtual banking plus
management information, by bringing together state-of the-art network and
database technology.
As the financial industry migrates from older "legacy" technologies to the
new technologies of the products detailed above, IFS International also
provides a selection of 4700 banking terminal conversion and migration
products that are being used as "stepping stone" solutions by major banking
corporations around the world.
TP-CMS is IFS International?s newest addition to the Company?s product
portfolio. TP-CMS is currently in closed release and is due for global
release during the second half of 1999. The product is an open architecture
payment card management solution for credit, debit, electronic purse and
biometric cards. Incorporating the latest technologies available for
information management, TP-CMS enables IFS to provide a complete migration
of a banks payment card systems to start-of-the-art solutions.
As open architecture systems, the IFS products are certified with the
Oracle RDBMS and all the industry standard hardware systems including:
IBM AIX, Tandem UX, Digital Alpha, HP-UX, Sequent, Unisys, NCR, Sco UNIX
and Microsoft Windows NT.
IFS parent company is headquartered in Troy, New York, and has subsidiary
offices in North Carolina, Singapore, United Kingdom, Germany and Australia.
IFS has customers in over 35 countries (250+ banks) and include:
Allied Irish Bank, Ireland Moscow Savings Bank, Russia
American Savings Bank, USA Nakornthon Bank, Thailand
Baltic Card Center, Latvia National City Corporation, USA
Bank of Kuwait & Middle East, Kuwait Pankade Kaardikeskus, Estonia
Bank Handlowy, Poland Sampath bank, Sri Lanka
BancPost, Romania Siam City Bank, Thailand
Budapest Bank, Hungary St. George Bank, Australia
Czech Savings Bank, Czech Republic Toronto Dominion Bank, Canada
Capital Federal Savings, USA Trustees Savings Bank, Ireland
ETN, Bangladesh Transilvania Banca, Romania
Gazprom, Russia TuranAlem Bank, Kazakhstam
GAD, Germany VISA Citibank, USA
Komercnijalna, Macedonia VISA International, Japan & UK
KredytBank PBI, Poland
Latest NR is here reagrding revenues/earnings etc:
biz.yahoo.com
Milestones and Key Developments
7/99 - IFS plan to launch new payment card management product, TP-CMS.
6/99 - IFS announces provision of Visa Cash Smart Card System for major
Japanese program. See the NR... co-authored by VISA.
5/99 - IFS announces expansion of Asian and Australian operations. IFS takes
equity position and licenses TPII products to major Bangladesh transaction
processing switch.
4/99 - IFS appoints DMS as distributor in Sri Lanka and licenses TPII to
Sampath Bank in Sri Lanka.
3/99 - IFS agrees to assist Visa International in implementation of Common
Electronic Purse specifications (CEPS). Gaylon Howe, Senior Vice President,
Chip Products at Visa stated, "IFS will play an important role in providing
support for Visa members as they start to implement Visa Cash electronic
purse programs based on CEPS. By working with us on Visa?s implementation of
the CEPS specifications IFS is helping to maximize the potential of this
new technology and to encourage growth around the world."
2/99 - IFS upgrades Russian distributor to partner status; announces a TPII
upgrade in Kazakhstan and a new TPII license to Alfa Bank.
1/99 - IFS initiates marketing campaign in South America.
There will be a PR campaign underway over the next several weeks. The stock
suffered through a selloff last week (to cover internet stock margin calls
is what one of the brokers tell me)... The stock is thin and will move quickly
on volume. There is a backlog of 6 NRs awaiting "third party approval".
Earnings are expect to improve significantly over the -.26 reported last
quarter. A positive EPS is expected by quarter ending Jan 2000 (2nd quarter).
For more details call Brendan Hopkins at 407-682-2001.
Not a rec to buy.... Please do your own DD.
Tom |
