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Symix Systems is in the open client/server software business for mid-size manufactors of discrete products. About half their revenue comes from software licenses and the other half from services. 1995 was a rough year for the company. However, after a major management overhaul: new COO and VP, the company has posted 3 solid quarters of earnings growth... FY95 FY96 1stq (0.42) 0 2ndq 0.21 0.33 3rdq (0.07) 0.23 4thq 0.06 0.25 The next quarter will be compared to 1stq 96. Therefore a no-brainers it will be significantly beaten (Note, numbers here are pre-split, company just did a 2-1 split). With such number, the company trades at a 45% discount to industry (see www.stocksmart.com). Only analyst following the company has had a hold rating since the end of the FY95. Is this person sleeping or what? Recently, Roundwood Capital bought 100 000 shares on the open market at 7.655. Interesting thing is that manager at Roundwood is also a director of SYMX (Mr Rutherford). Management holds about 42% of outstanding shares (5 552 576 post-split). Company's goal is to grow revenues 30% at next year. They've purchased offices in Netherlands and Australia, bought over a small company in France and opened offices in China and Japan ercently. New product (Syteline) has been shipping since March. Good to see aggressive management. In particular, they want to increase the licensing revenues. o.k. negative is ongoing litigation with fired past COO and VP. Given the recent results, it's good they got rid of these people. It would be nice to know if other investors have been following this company, and especially, if anybody knows about the quality of SYMX's software products. Take a look at SYMX at www.symix.com, take a look at this undervalued stock. Happy investing, TRILOBYTE | ||||||||||||||
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