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Once a Sneak, a company becomes a candidate for a full recommenda-tion. My decision concerning which to recommend is based on what we find in continuing investigation. I may cover a Sneak I did a year ago, or one from the last issue; do not attach significance to timing. While Sneaks are preliminary recommenda-tions, do not use them for investment decisions unless you decide on the basis of facts you uncover in your own investiga-tion. Keep in mind that the codes listed after each Sneak are preliminary, reflecting my first impression. They are subject to change based on further investigation. Compositech, Ltd. (NASDAQ/CTEK) develops & markets superior copper-clad fiberglass epoxy laminates used to make printed circuit boards used by the electronics industry. It has 29 US & foreign patents on its proprietary processes, products, & equipment, plus five more pending. The advantage of its products include enhanced smoothness & greater dimensional stability. Evaluations by customers indicate its improved products can economically substitute for the fiberglass woven cloth epoxy laminates currently being used. According to the Institute for Intercon-necting & Packaging Electronic Circuits, this market exceeded $3.2 billion in 1997, the latest year for which data is available. So far, CTEK has been developing its products & manufac-tur-ing facilities, producing product in evaluation quantities, & beginning its sales efforts, which have resulted in about 60 customers engaging in the qualification process. As a mechanical & electrical engineer, I think this company has a product that will gradually get a share of this multi-billion dollar market. As you know, I like to expose you to situations at as early point in their history as possible, provided the company is emerging from its R&D phase to its production phase. This is such a situation. Call CEO Christopher F. Johnson @ 516-436-5200, fax 516-436-5203, or write 120 Ricefield Lane, Hauppauge, NY 11788-2008. www.compositechltd.com [R-6; M-6; L-8] Comtrex Systems Corporation (NASDAQ/COMX) is a systems integrator & software developer. It provides transac-tion processing, controls, & management information to food service operations, primarily restaurants. You may have seen, as I have, COMX's colorful screens in restaurants. Servers use them to prepare your bill, & that's only one of many functions its that can be accessed from its terminals. It's a $300-500 million per year market, & COMX is growing -- in my interview of CEO Jeffrey Rice, it appears that this company is at a place where it can now see fast growth coming. It used to be an OEM supplier to Sharp, and changed its strategy to selling directly to its end users, a move that is working well. It foresees a 15% to 20% annual revenue growth. For the Q ended 12/31/98, revenue was $2,126,455, with net earnings of $119,676. Call CEO Jeffrey C. Rice @ 609-778-0090, fax 609-778-9322, or write 102 Executive Dr., Suite 1, Moorestown, NJ 08057-4224. info@comtrex.com www.comtrex.com [R-7; M-7; L-8] Concepts Direct, Inc. (NASDAQ/CDIR) is a direct marketing business. It sells to about 9 million customers through its catalogs & is now launching a major e-commerce initiative. Its catalogs include "Snoopy etc.," "Collectibles," "Linda Anderson," "Colorful Images," "Dreamsiele-s," & "Boyds Collectibles." They cover figurines, crystal, plush & gift items, home decor, apparel, & similar items. The company has been in a transition period, creating new catalogs & expanding its physical facilities. This laid the groundwork for higher revenues & profits. Revenues for the year ended 12/31/98 were $84.7 million, but as expected, the expansion resulted in a net loss of $1.38 million for the year. Q4 was a turnaround. Revenues were $33,943,000, & net income was $424,000. In my interview of CEO Phillip A. Wiland, I was impressed with the many steps he is taking to increase profits -- I feel this situation will do well in the long term. The e-commerce push should increase profits, based on the experience of other companies I've talked with that have added e-commerce to their marketing efforts. Call Phillip Wiland @ 303-772-9171, fax 303-682-7140, or write 2950 Colorful Ave., Longmont, CO 80501. [R-6; M-7; L-8] |
Identix Inc. (AMEX/IDX) develops, manufactures, & markets products that identify people through their fingerprints. It also makes & markets products that capture forensic quality fingerprint images -- for security, anti-fraud, & law enforcement. For the six months ended 12/31/98, revenues were up 4% to $40.3 million. Net income was $394,000, down 59% due to higher joint venture losses & debt levels. Management says its Q3 loss will be about $1 million. This loss will most likely bring the price down -- I would consider that a buying opportunity. On 4/19/99, IDX announced the SEC declared effective its registra-tion statement relating to its acquisition of Identicator Technology Inc. -- by the time you read this, the deal should be closed. Call CFO James Scullion @ 408-731-2000, fax 408-739-3308, or write 510 N. Pastoria Ave., Sunnyvale, CA 94086. [R-6; M-6; L-7] Virtuallender.com, Inc. (OTC Bulletin Board/VLDC) is one of the first public companies engaged primarily as an Internet based electronic mortgage lender. It has the ability to provide its customers with financing as a mortgage banker (funding loans directly), & as a mortgage broker by making referrals to such other investors as Headlands Mortgage Co., Provident Financial Group, Inc., & Downey Financial Corp. A user will be able to "pre-qualify" for their mortgage electronically. According to Forrester research group, on-line mortgage originations totaled about $265 million in 1997, & were about $725 million in 1998, a 174% increase. Analysts project that on-line mortgage lending will constitute between 10% to 25% of the entire mortgage market by 2003, which represents $91 billion to $250 billion. VLDC recently acquired HomeSmart.com, a national Internet real estate marketing company (it had about 400,000 visitors in 2/99). The acquisition increases lead generation for VLDC & takes advantage of U.S. capital markets. VLDC management has experience in traditional mortgage lending -- they decided to take advantage of the rising popularity of Internet utilization. VLDC is a California licensed mortgage lender located in San Bruno, CA. There are about four major players in the on-line mortgage lending arena: E-Loan, GetSmark, HomeShark, & Intuit's QuickenMortgage. The risk is high here, as it is in most new entities (VLDC just started trading 2/22/99). This is another instance where I try to give you as early a view of a potential winner as possible. You should check these situations yourself before investing. Call Gerry Richards at VLDC's IR firm, M&A West, @ 650-588-2678, fax 650-827-9508, or write 583 San Mateo Ave., San Bruno, CA 94066. www.virtuallender.com [R-5; M-7; L-8] ...continued on next page, click here |
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