LAKE FOREST, Calif., Oct. 27, 1999 (PRIMEZONE) -- The following is being issued by AmrheinFoleyGroup.
AmrheinFoleyGroup (AFG), an investment banking firm headquartered in Lake Forest, Calif., has initiated coverage and issued a Strong Buy Recommendation for aggressive growth investors on UniComp, Inc. (Nasdaq:UCMP), Marietta, Georgia. UniComp develops and markets innovative business software solutions for small and medium size companies that use Microsoft Windows, Microsoft NT, UNIX, or IBM's mid-range computers, the AS/400 and System 36.
According to the AFG report, UniComp is now beginning to reap the fruits of a corporate reorganization and major research and development campaign that have been underway for the last two fiscal years. The report states: "First quarter sales increased 39% to $9.3 million with per share earnings of $0.03 versus a loss of $0.08 for the same period last year." AFG expects the substantial breakout in sales and per share earnings growth to continue for at least the next two years.
The AFG report projects earnings per share for UniComp to increase to $0.25 in the fiscal year ended February 28, 2000 and to $0.58 in the next fiscal year.
The bullish outlook on the Company detailed in the report centers around two key products of UniComp: UniPay, which is a leader in providing a complete suite of secure electronic payment processing solutions for both traditional retail and e-commerce merchants; and Unibol, the leader in software for platform migration from proprietary systems (IBM OS/400 and MVS) to open platform systems (Microsoft Windows, Windows NT and UNIX) for the IBM mid-range computers, AS/400 and System 36.
The report states that UniPay along with two other UniComp products, UniPims and Mastermind, will be remarketed by Compuware (CPWR). UniPims is the Company's work force, labor-saving software tool for corporate managers in the manufacturing sector with payrolls of up to 10,000 employees. Mastermind is a complete, user-friendly systems management software package for the IBM AS 400.
Copies of the AFG report on UniComp, Inc. may be requested by calling 949-470-9581.
(The information contained herein is based on sources believed to be reliable but is not guaranteed by this company and is not comprehensive. It is not to be construed as an offer or the solicitation of an offer to sell or buy securities mentioned herein. The Company, its members, affiliates and employees may have long or short positions, which could be substantial, in securities discussed or recommended and may purchase, sell, or trade these securities from time to time in the open market or otherwise. In addition, this Company may from time to time perform investment banking, corporate finance, provide services for, and solicit investment banking, corporate finance, or other business from the issuers of such securities.)