>
DGI is a much better value than GEOY . DGI's gross profit & operating
income % are much higher than GEOY's
. DDGI's price to tangible book value is much higher then GEOY's
MORE
> There is always hunger for a company with significant visible top
line revenue growth with good margins, etc. DGI's gross profit
& operating margins are both significantly better than GEOY's
> It's going to be mid-year 2009 pretty soon so people are going to
be looking into 2010 for companies whose top line revenue has a chance
of popping.
> DGI has only two satellites & last year's comparison included
an large apparently non-recurring order. DGI is nearing capacity
in any case, depending on the composition of the product/service stream.
> The new satellite will double their capacity so it's not like a
normal tech 'compare sequential quarter-by-quarter results'. They
are heavily dependant on one customer, which is a p/e multiple
detraction.
> Yes, most of the proceeds go to selling shareholders.
However, in this case it is probably ok because of the positive cash
flow, low price to tangible book value, high margins, etc.
> Based on the comparison with GeoEye, GeoEye looks overpriced, but
apparently GEOY has some sort of cult following. read more
Decoding the
Secrets of a Strong IPO + Another12% today, Friday
+41%
Rosetta
Stone (RST) > “Investors are
optimistic…” Bloomberg > "They didn't mind leaving
money on the table, because this IPO increases consumers' awareness of
Rosetta Stone, which helps top-line revenue growth," Gaskins added.
Reuters quote read
Trading Thursday, April 16
Language learning software
$18, above range,
$112.5
Pre-IPO grade/score: B, 8
(RST) IPO report
read AT
$18 IPO price:
26x trailing 12 months P/E; 3x book; 4.2x TanBook Rosetta Stone CEO on CNBC -------------------- BRIDGEPOINT IPO takes a 30% pricing haircut +5%
Bridgepoint Ed (BPI)
Wed April 15, 2009
post-secondary online ed
$10.50, below range, $141mm
Pre-IPO grade/score: C+, 7.5
Pre-IPO report read
Rosetta
Stone IPO better than
Bridgepoint IPO SIMILARTIES (1) Both are educational stocks . Rosetta Stone provides language
learning software . Bridgepoint Ed provides
post-secondary online education
(2) Both report revenues for 2008 in
the $200mm range & both were profitable in 2008
(3) Both have good internal growth
track records
(4) The trailing 12 mos P/E ratios
are in the same range at price range mid-points: 23.4x for
Rosetta; 29.7x for Bridgepoint
DIFFERENCES (1) Rosetta is a market segment
leader with a differentiated product
(2) 95% of Rosetta's sales are in
the US, and growth plans are set for international expansion
(3) Rosetta's gross margin is
higher, 87% versus 71% for Bridgepoint
(4) Price-to-book value is more
favorable for Rosetta: 2.7x versus 20.8x for Bridgepoint
(5) Online comparables to
Bridgepoint suggest it is fairly priced (trailing 12 months) relative
to Capella Education (CPLA) at 28x and Strayer Education (STRA) at
29x. The range is wide, however, with Apollo (APOL) at 15x ($10bb
market cap) and Grand Canyon (LOPE) at 93x ($677mm market cap).
Notice that post-secondary online ed
stocks sold off 15-17% since March 31, so there are some headwinds in
the sector. read more
i2Telecom (ITUI) Analyst
Report read more ----------------
AN IPO WINNER! But there are some issuesread
more
> Changyou IPO up 25
percent in strongest debut in a year +25%Changyou (CYOU) IPO
Thursday April 2, 2009
multi-player gaming
$16 range top, $120mm
Pre-IPO grade/score: C+, 6.5
Pre-IPO report read
more >
Mead Johnson aside,
IPOs struggle traded Wed, Feb 11 +9.5% Mead Johnson Nutrition MJN
infant-formulas
$24, range top, $720mm
Pre-IPO grade/score: B, 8 read MJN pre-IPO analysis Finally
-- a
successful IPO!
...read more in this IPO report
Traded
Thursday Nov 20, 2008 +24% Grand Canyon Edu LOPE
online education
. $12, below range, $111mm
. Pre-IPO
grade/score: C+, 7
Compare
& contrast with Apollo
& Capella
> Notice the tight range of price to sales for all 3 (see report,
above)
> LOPE is the smallest, is growing the fastest and has the highest
P/E ratio
> Price-to-book is similar for LOPE & APOL
-------------------- i2Telecom (ITUI) Analyst
Report
updated 3/30 read more SKYPE & i2Telecom . Ebay’s Skype validates ITUI’s
MyGlobalTalk, but Skype iPhone app requires (unreliable) WiFi . Competitive
advantage to ITUI based on lower price points &
patent-protected technology
. Skype revenue: from 0 in 2003 to an estimated $1 billion 2011
. ITUI has a better, patented mobile phone solution. Enables worldwide carrier-quality
voice independent of (a) wireless carrier technology
(b) wireless
carrier voice/data plan
(c) handset mfg >
i2Telecom Analyst Rptread more ------------------------------------ Interesting
sub-penny
speculation
AmeriChip (ACII.OB)
updated Feb 23...read
more
------------------------------------ i2Telecom leads its
market segment
with patent protected
carrier-quality
VoIP independent
of
. Wireless carrier technology
. Wireless carrier voice/data plan
. Handset manufacturer special offer:
5 minutes free carrier quality international & long distance calls
from ITUI.OB...read more ------------------------------------ IPOdesktop
is looking for a few good companies read more
Analysts Corner
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