eFuture Information Technology Inc. (eFuture), a leading provider of integrated software and professional services in China's supply chain front market, announced the closing of its initial public offering of 1,133,500 ordinary shares at $6.00/shar, raising 6.8 million dollars.
The ordinary shares began trading on the Nasdaq Capital Market on October 31, 2006 under the symbol "EFUT", shares of eFuture climbed 16.67% in their first day of trading in US Tuesday.
eFuture is the first Chinese software company listed in NASDAQ CAPITAL MARKET, and also the first software company in the front supply chain market, therefore, it will spark the interests of domestic and overseas investors sooner or later.
Adam Yan, eFuture's Chairman and CEO, says: ''China has enjoyed and sustained economic growth for many years and now China's market is huge, particularly in retail and consumer market. Therefore, we have established three basic strategies. First, Upon China's growth opportunities of next five years, we will constantly solidify our leading position and expand our and market share through organic growth in the front supply chain market, particularly in retail and FMCG (Fast Moving Consumer Goods) markets; Second, efuture will take the lead in outsourcing, international business, SAAS service through business model innovation. Third, we will not miss any opportunity to acquire companies, which can increase our shareholder's value.
eFuture's IPO underwriter is Anderson & Strudwick, Inc. and this is Anderson & Strudwick's first Chinese deal and it is closed successfully. Mr. Ming Zhu, executive vice president of RMCC INTERNATIONAL, INC. serves as our senior advisor and helps us to communicate with ANDERSON & STRUDWICk, as well as help us to understand the US CAPITAL MARKET.
Brad Haneberg of the Richmond office of Kaufman & Canoles served as underwriter's counsel and was instrumental in helping to get the necessary approvals to bring the issue to market. The Kang Da Law Firm of Beijing represented the issuer.
eFuture Information Technology Inc. (''eFuture'') is a provider of integrated software and professional services for manufacturers, distributors, wholesalers, logistics companies and retailers in China's supply chain front market.
eFuture's customers are centered in the retail, automotive, general household appliance and consumer goods industries. Its solutions are specifically designed to optimize demand processes from finished goods to customer checkout, and to address supply chain management, business processes, decision support, inventory optimization, collaborative planning and forecasting requirements. eFuture 's software solutions business is enhanced and supported by its consulting services and ongoing maintenance on existing software installations.
eFuture has over 500 customers, 30% of the top 30 retailers in China and 30% of top 500 retailers in China. And eFuture has also been selected to provide the retail software for upwards of 500 retail stores (Mickey Space) that will be selling Disney products in China. In addition, eFuture provides products and services to Proctor & Gamble, Ford, Panric, Haier, Gucci, Suning, PARKSON, SOGO, Wangfujing, Homeway, Orient home, and other large companies operating in China's domestic markets.
Hudson Highland Group, Inc.
(RTTNews) - Hudson Highland Group (HHGP) reported third quarter income from continuing operations of $0.16 per share after the close on Tuesday, compared to the consensus estimate of $0.05 per share. Revenues increased to $352.561 million from the $341.25 million reported last year. The company expects to report fourth quarter revenues of $335 million to $350 million.
Hudson Highland Group gapped up and moved sharply higher during the first hour of Wednesday's session, to close up by 3.30 at $14.99 on above average volume. The stock broke out to a 6-month high and re-crossed its 200-day moving average.
November 8 2006 Stocks To Watch
Greenfield Online, Inc
Greenfield Online Inc. Leaped To A New High On Earnings News
(RTTNews) - Greenfield Online Inc. (SRVY) reported third quarter EPS of $0.07 after the close on Tuesday, which topped the consensus estimate of $0.02. Revenues climbed to $24.87 million, from the $23.14 million reported last year. The company increased its revenue guidance for the full year 2006 to between $93 million and $97 million, from prior expectations of $88 million to $95 million.
Greenfield Online gapped up and climbed higher until mid-morning Wednesday.
The stock closed up 2.68 at $12.86 and broke out of nearly a 2-month range, to set a new high for the year.
NeuroMetrix Inc. Is Rising Sharply At The Open
(RTTNews) - Shares of NeuroMetrix Inc. (NURO) have been moving sharply to the upside since the open of Wednesday's session and are now trading higher by 1.18 at $16.26.
NeuroMetrix is now challenging the upper end of a narrow, 2-week range at the lows of the year.
November 9 Stocks To watch
e-Future Information Technology Inc.
EFuture Information Technology To List On Nasdaq Capital Market Under Symbol 'EFUT'
(RTTNews) - EFuture Information Technology (EFUT) To List on Nasdaq Capital Market under symbol 'EFUT'.
Targeted Genetics Corporation
Targeted Genetics (TGEN - commentary - Cramer's Take) surged after it narrowed its third-quarter loss from a year ago. The biotech company lost $3.2 million, or 32 cents a share, in the latest quarter, compared with a loss of $5.7 million, or 66 cents a share, for the same period in 2005. Revenue for the three months ended Sept. 30 was $2 million, up from $1.5 million a year ago. Shares were soaring 31% to $3.32.
November 13 2006 Stocks To Watch
e-Future Information Technology Inc.
E-Future Information Posted Another Sharp Gain
(RTTNews) - E-Future Information (EFUT) gapped up Monday and traded in a range for the remainder of the day. The stock finished up 9.60 at $29.49.
E-Future Information began trading on October 31, 2006 at 7.00. The stock has risen sharply over the last 3 sessions.
China Automotive Systems, Inc.
China Automotive Systems Q3 EPS Increases On Higher Sales - Update
(RTTNews) - Jing Zhou City, China-based China Automotive Systems, Inc. (CAAS) engaged in the manufacture and sale of automotive systems and components, announced its financial results for the third quarter, reporting an increase in net income compared to last year. Total net sales surged 54% on year over year basis and declined 8% compared to the prior quarter.
The company stated that the quarterly net income was $1.5 million or $0.07 per share compared to $1.1 million or $0.05 per share last week.
Net sales for the quarter increased to $22.7 million from $14.8 million a year ago. Gross profit for the quarter increased to $8.2 million from $5.7 million last year. Operating income climbed to $3.4 million from $2.8 million in the prior year period.
Net sales from steering products for passenger and light duty vehicles increased to $13.6 million from $9.1 million last year. Steering products for commercial vehicles also increased to $6.4 million from $3.7 million a year ago.
Commenting on the results, Hanclin Chen, Chairman and Chief Executive Officer of China Automotive Systems said, "Third quarter is normally a slow season in Chinese passenger vehicle market due to the summer. However, we see little sign of slow-down in the sedan market. Our key customers, Chery Auto and Geely Auto continue to gain market share in China's domestic market with their economy cars. Due to the roll-out of consumption taxes, luxury and mid size sedan sector experienced further pricing pressures while the economy cars held in the third quarter."
For the first nine month period, the company reported a net income of $3.38 million, up from $2.45 million a year ago. Earnings per share increased to $0.15 from $0.11 last year.
Net product sales increased to $68.11 million from $45.00 million a year ago. Net other sales increased to $1.15 million from $1.25 million in the prior year. Gross profit for the period was $24.61 million from $16.71 million in the previous year. Income from operations climbed to $9.16 million from $6.13 million a year ago.
CAAS is currently trading at $9.47, up $1.72 or 22.19% on a volume of 126 thousand shares.
Novenber 15 2006 Stocks To Watch
Vanda Pharmaceuticals Inc.
Vanda Pharmaceuticals Surged Higher After Positive Phase III Results
(RTTNews) - Vanda Pharmaceuticals (VNDA) announced positive results from its Phase III clinical trial of VEC-162, Wednesday morning, for the treatment of transient insomnia. The drug demonstrated statistically significant improvements at all three tested doses compared to placebo in Latency to Persistent Sleep, which was the primary endpoint of the trial. VEC-162 also produced statistically significant improvements relative to placebo in Latency to Non-Awake, Wake After Sleep Onset and Total Sleep Time.
Vanda Pharmaceuticals gapped up nearly 4 points at the open of Wednesday's session and rose further during the early portion of the 10 o'clock hour. Shares of the biopharmaceutical company then settled into a narrow range and finished higher by 5.14 at $14.90 on strong volume. The stock broke out past resistance, to close at an all-time high.
Embrex (EMBX - commentary - Cramer's Take - Rating), a maker of vaccine-delivery technologies, surged after a unit of Pfizer (PFE - commentary - Cramer's Take - Rating) agreed to acquire the company for $155 million.
Under the agreement, Pfizer will acquire the shares of Embrex for $17 each. Embrex gained 40% to $16.63. Pfizer rose 1.2% to $26.56.
November 16 2006 Stocks To Watch
Ocean Bio-Chem, Inc
FORT LAUDERDALE, FL -- (MARKET WIRE) -- 11/14/06 -- In the news release, "Ocean Bio-Chem Profit Increase Jumps at Nine Months Ending September 30, 2006," issued earlier today by Ocean Bro-Chem Inc. (NASDAQ: OBCI), we are advised by the company that the financial table, "Nine-months ending September 30, 2006," figure for "Net income (loss)" should be $650,285, not $7650,285, as originally issued. Also, the 2nd sentence of the 2nd paragraph after the financial tables should read, "As a result, we were able trim expenses by approximately $286,900 or 9.8% for the nine months ended September 30, 2006 compared to the nine months ended September 30, 2005," rather than "As a result, we were able trim expenses by approximately $341,900 or 11.7% for the nine months ended September 30, 2006 compared to the nine months ended September 30, 2005," as originally issued. Complete corrected text follows.
Ocean Bio-Chem Profit Increase Jumps at Nine Months Ending September 30, 2006
CEO Notifies of Plan to Exercise Conversion Rights on $1.5 Million of Company Debt
FORT LAUDERDALE, FL -- November 14, 2006 -- Ocean Bio-Chem, Inc. (NASDAQ: OBCI) today reported a profit increase jump in fully diluted Net Earnings for its 3rd Quarter or three month period ending September 30, 2006 of $ .11 per share versus net earnings (loss) of ($ .07) per share for the same period in 2005. Net Sales for the 2006 3rd Quarter were $7,725,089 versus $5,952,831 for the 2005 3rd Quarter, representing a 30% increase of approximately $1,772,000 over the same period in 2005.
For the nine-month period ended September 30, 2006 and comparable period ending September 30, 2005, the Company reported fully diluted Net Earnings of $ .10 per share for 2006 versus Net Earnings (loss) of ($ .23) per share for the comparable nine-month period in 2005. For the nine month period of 2006, Net Sales totaled approximately $16,466,190 for a 20.7% increase or a $2,830,466 difference from $13,635,724 in 2005.
Three-months ending September 30 2006 2005
Net Sales $ 7,725,089 $ 5,952,831
Net income (loss) $ 670,681 $ (418,254)
Earnings per share fully diluted (loss) $ .11 $ (.07)
Average Shares Outstanding (Diluted weighted) 6,106,214 5,744,767
Nine-months ending September 30 2006 2005
Net Sales $16,466,190 $13,635,724
Net income (loss) $ 650,285 $(1,305,697)
Earnings per share fully diluted (loss) $ .10 $ (.23)
Average Shares Outstanding (Diluted weighted) 6,369,933 5,721,078
Ocean Bio-Chem President and CEO Peter Dornau described the financial progress of the Company to date, "The 3rd Quarter of 2006 was buoyed by our favorable Anti-freeze season as well as largest customer resuming their purchasing, after apparently reaching their inventory goals. Additionally, new customer development and sales price increases passed along to customers to cover increasing costs during the past nine months helped to produce a solid jump in profit. This was reflected in a cost of goods sold decrease to 71% of Net Sales for the nine months ended September 30, 2006 compared to 80% of Net Sales for the nine months ended September 30, 2005. Moreover, our improved margins were boosted not only by sales price increases to customers but also by certain initiatives adopted in our manufacturing processes, and the result of spreading the fixed element of our manufacturing overhead over the higher reported sales levels.
"We are pleased to report that our ongoing efforts to control costs have reduced personnel outlay, principally at Kinpak, lowered consulting fees and other outside services such as professional fees and outsourced data processing services. As a result, we were able trim expenses by approximately $286,900 or 9.8% for the nine months ended September 30, 2006 compared to the nine months ended September 30, 2005. With optimism, we look forward to a favorable 2006 4th Quarter."
Dornau added, "In order to trim interest costs, on November 10, 2006 I notified the Company that I am exercising my conversion rights on the $1.5 million that I loaned to the company and, accordingly, our long-term debt will be reduced and shareholders' equity will be increased by the approximate $1,250,000 net obligation reflected on the September 30, 2006 financial statements."
About Ocean Bio-Chem
Ocean Bio-Chem, Inc. manufactures and markets a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the Starbrite(TM) name. The Company trades publicly under NASDAQ SmallCap Symbol: OBCI. www.oceanbiochem.com. The Company's products and facilities are also featured in our www.Starbrite.com website.
NOTE: The foregoing is news relating to Ocean Bio-Chem, Inc. (OBCI or "the Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For more detailed information the reader is referred to the Company's 10-K and other documents filed with the United States Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing, the Company or its subsidiaries and is meant purely for informational purposes.
For additional information contact:
President and CEO
Ocean Bio-Chem, Inc.
Ocean Bio-Chem, Inc.
4041 S. W. 47th Avenue
Fort Lauderdale, FL 33314
Tel. (954) 587-6280
Fax. (954) 587-2813
Rambus (RMBS - commentary - Cramer's Take) shares soared more than 28% Thursday, after the company's appearance at a closely watched hearing with the Federal Trade Commission a day earlier.
Investors bid up the company's shares to $21.32 on hopes that the FTC takes a light hand when it decides what remedy to impose on Rambus for antitrust violations and unfair business practices.
In August, the FTC issued a 119-page opinion concluding that Rambus had engaged in a course of deceptive conduct that allowed it to monopolize the market for computer memory.
Rambus, based in Los Altos, Calif., designs and licenses technology related to computer memory.
According to the FTC's August opinion, Rambus took part in the standard-setting organization, known as JEDEC, without disclosing the fact that it had patents on many of the technologies it was pushing to be included as part of the standard.
Wednesday's hearing in Washington D.C., involved the remedy phase of the FTC's finding.
In a note to investors, American Technology Research analyst Jeff Schreiner said it appears unlikely that the commission will include DDR2 or DDR3 memory in its final remedy.
That would limit any remedies, which could include capping Rambus' royalty rates, to older types of memory like SDRAM and DDR.
"We see this as substantial because it's the current and future version of memory that would go unharmed," said Schreiber.
Shares of Rambus were up 28.1%, or $4.67, at $21.32 in late trading.
We were looking through the list of top % gainers on the NYSE and came across Airgas (ARG), which as I write is trading at $41.61, up $1.63 or 4.08% on the day. I do not own any shares nor do I have any options on this stock.
I would like to briefly share with you my thinking as I believe this stock deserves a place on stocks to watch.
The company profile
"...and its subsidiaries distribute industrial, medical, and specialty gases and hardgoods primarily in the United States. Its products and services include packaged and small bulk gases, gas cylinder, and welding equipment rental, and hardgoods."
On October 25, 2006, Airgas reported 2nd quarter earnings results for the quarter ended September 30, 2006. Net sales for the quarter grew to $790.7 million from $702.2 million in the same quarter the previous year. Net earnings increased to $39.5 million this year vs. $29.6 million last year, or $.49/share this year, and $.38/share last year on a diluted basis. The company exceeded analysts' expectations of $.47/share on net sales of $790 million. In addition, the company raised guidance to $.47 to $.49/share for the third quarter, while analysts have forecast $.47/share.
Looking longer-term at the Morningstar.com "5-Yr Restated" financials on ARG, we see a steady increase in revenue from $1.6 billion in 2002 to $2.8 billion in 2006 and $2.9 billion in the trailing twelve months (TTM). Earnings also show steady improvement, and the company started paying a dividend of $.16/share in 2004 and has been increasing the dividend on a regular basis. The number of shares outstanding has grown from 69 million in 2002 to 78 million in the TTM. Free cash flow has been positive and steady and the balance sheet is adequate with $33.1 million in cash and $447.8 million in other current assets, adequate to cover the $433.2 million in current liabilities. There is another $1.1 billion in long-term debt on the balance sheet.
Looking at the "Key Statistics" on ARG, we see that this is a mid-cap stock with a market capitalization of $3.25 billion. The trailing p/e isn't bad at 23.41, the forward p/e is 18.46 (fye 31-Mar-08), however the 5 yr expected growth is such that the PEG is quite high at 5.76.
Reviewing the Fidelity.com eresearch website, we can see that Airgas (ARG) is in the "Industrial Equipment Wholesale' industrial group. Within this group ARG is moderately priced with a Price/Sales ratio of 1.1. Topping this group is MSC Industrial (MSM) at 2.1, and the cheapest in the group is CE Franklin (CFK) at 0.4.
Airgas actually has the lowest return on equity (ROE) of its group at 15.15. Topping the group is DXP Enterprises (DXPE) with a ratio of 40.1%.
We can see that this company has 78.01 million shares outstanding with 70.39 million that float. Of these, 643,520 were out short as of 10/10/06 representing .9% of the float or 1.4 trading days of volume. The forward dividend is $.28 representing a .7% yield, and the stock last split 4/16/96 with a 2:1 split.
Airgas has a very pretty "Point & Figure" chart. The stock has climbed from a low of $6.50 in February, 2001, and has not broken down in price since. Currently the stock is pushing into new high territory at the $42 level.
To summarize, this has been a great stock to own the past several years. The company's stock moved higher today on the announcement of an acquisition of Linde's bulk gas unit for $495 million. The latest quarterly report was strong with the company beating expectations and raising guidance. The Morningstar evaluation looked nice with steady revenue and earnings growth, and an increasing dividend. The number of shares outstanding has been growing slowly. Free cash flow is positive and the balance sheet appears adequate. Valuation has been o.k. with a reasonable p/e but a PEG over 5.0. Finally, the chart looks terrific.
This is an interesting stock to consider. It isn't a perfect picture imho, but most of the numbers are in line and the price performance of the stock in the market has been superb!