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At first glance this company appears to be ridiculously undervalued. $230M annual revenues with a $70M market cap, 1.5 times book value. Landed a $20M contract with state of Pennsylvania today.
News release biz.yahoo.com
Recently changed name from MLC Group to ePlus. Past revenue mix consists of hardware and software leasing and network support services however now branching out into e-commerce procurement services.
Yahoo Profile:
ePlus, Inc. provides an automated Internet supply chain management product, ePlusSuite, which provides procurement, asset management, financing and services to enterprises on a hosted basis. For the three months ended 6/30/99, revenues rose 31% to $54.4 million. Net income increased 3% to $1.5 million. Revenues reflect increased sales from PC Plus, Inc. Earnings were offset by increased interest and financing costs.
From press release:
ePlus inc. is a leader in providing cost-effective e-commerce e-procurement, leasing, and asset management service solutions. Its hosted application, ePlusSuite(SM), produces hard and soft dollar costs savings and increases internal efficiencies for customers throughout the life cycle of purchases. ePlusSuite(SM) consists of Procure+(SM), Manage+(SM), Finance+(SM) and Service+(SM), and provides automated, online workflow management, procurement, order tracking and verification, asset depository, tracking and reporting, financing, sales, property and use tax compliance and payment, software license compliance, technology rollout and upgrades, technical and maintenance services, and equipment disposal. The company was founded in 1991, is headquartered in Herndon, VA and has 17 offices in the United States. ePlus is a trademark applied for of ePlus inc., and ePlusSuite(SM), Procure+(SM), Manage+(SM), Finance+(SM) and Service+(SM) are service marks applied for of ePlus inc.
Company web site mlcgroup.com
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