RE: when are the financials due ? Q1 should be released within the next couple of weeks. I have to tell you that I have no true sense of what the results will be like. I expected good but the stock is still so bloody cheap that I find myself always being cautious.
It is worthwhile listening to the AGM; something you can do on their website. It was a very upbeat meeting on many fronts. The presentation of Xign's situation is very interesting as well. Their business model is very strong with licensing of their software assuring ongoing revenue. As RDM they have been incredibly successful at obtaining “Blue Chip” clients. Latest 2 added to an already impressive list were Toyota and Verizon.
There was some frustration about share price and some questions about a share buy-back (not likely). They have a tremendous balance sheet and explain that in part this is needed (The cash on hand, the strong balance sheet) to be able to show credibility towards the type of clients, large banks in particular, they are going after. When you take a look at their balance sheet keep in mind that their investment in Xign is on there at cost.
Notable too was the mention that their corporate goal is not so much to maximize profits at this point as it is too build on that balance sheet and to continue growing. Target growth-rate of 20% is mentioned.
The presentation is very clear in describing the various aspects of their business and although I was familiar with most of it I thought it well presented.
Their next new product will be a web-based version of their check processing software.
All in all my impression is that this is one stock that is amazingly undervalued and although there is little to indicate that this will change any time soon (We gained only pennies on the Unisys deal after all) I am perfectly comfortable with the fact that sooner or later this will be recognized by the market.