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Technology Stocks : Portal Software, Inc. (PRSF) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff Altman who wrote (176)	4/25/2001 7:39:48 AM
From: Geoff Altman	Read Replies (1) \| Respond to of 318

By: sfgoodfella $$$ Reply To: None Wednesday, 25 Apr 2001 at 3:00 AM EDT Post # of 11441 The 1Q chronological review shows ... PRSF modular technology can be deployed across a variety of technologies. The chronology showed PRSF business related to wireless, ISPs, IDCs, B2B platforms, cable, audio distribution, content distribution, CRM and SLA management to name a few. This is what I refer to as Portal's Platform Portfolio (PPP). PPP provides PRSF with revenue diversification across many different business models, economic drivers and geographic markets. Not only that, PPP provides growth opportunities not available to less flexible solutions encumbered by consulting intensive distribution mechanisms. This is a significant source of competitive advantage. In fact, Amdocs admitted in their earnings call today (www.vcall.com) that emerging market customers are showing a preference for out-of-the-box speedily implemented solutions (ie: PRSF's Infranet). Many analysts (especially the 6 DHD analysts) have overlooked the benefits of PPP. In 3Q, these analysts cited weakness in CLEC revenue (3% of PRSF's revenue) for which they adjusted their quarterly revenue estimates by as much as 6% (yes, that is a head-scratcher). If they had recognized PPP, they would have noted PRSF's international diversification. Now, analysts fail to identify technology diversification, choosing instead to focus on (perceived) 3G delays (although PRSF partner Nokia's EU 2.5 B sales in 3G OEM equipment mitigates that point, at least in part). Meanwhile, PRSF continues to roll out sales for other billing needs (as noted previously). PRSF (based on 1Q) is emerging as a biller to (1) leading wireless companies (Vodafone, China mobile); (2) leading IDCs (Exodus) (3) leading IP billers (FT) (4) 3G OEM equipt manufacturers (Nokia) (5) cable (Time Warner) etc ... CONCLUSION: PRSF business model appears strong.