NEW YORK, September 2, 2003 (PRIMEZONE) -- Investrend analyst Ryan Fuhrmann, CFA, is reiterating his 'Speculative Buy' and has now established a target valuation of $0.60 on Stockgroup Information Systems Inc., (OTCBB:SWEB) (TSX Venture:SWB). Fuhrmann also increased the 2004 revenue estimate by "$1.1 million to $5.1 million due to fruition of AP Financial Tool Launch in June '03", and estimates positive GAAP EPS of $.01 in '04 and positive free cash flow.
The distribution of financial information via multiple technological platforms is highly scalable; the Associated Press partnership is worth reiterating due to the AP's clout and reputation in the news and financial content industries. The partnership has already led to new clients and revenue and could move Stockgroup to another level in terms of revenue and scalability beyond fixed costs.
Stockgroup's quarterly revenue increased 69% from Q2 '02 and 15% sequentially from Q1 '03. The successful completion of the second half of share offering raised total proceeds of $1.4 million and settled working capital concerns. If revenue grows near 50% for the remainder of '03 as it did in the first half, revenue targets will be met.
The full report, including important disclosures and disclaimers, is available at http://www.investrendresearch.com, at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.
Ryan C. Fuhrmann, CFA covered the Health Care industry as a member of the MBA Investment Fund, LLC, at the University of Texas McCombs School of Business. He currently follows energy and technology companies as a valuation consultant. He previously covered the biotechnology industry for Houston-based money management firm Dyer, Robertson & Lamme. Prior to this he was a portfolio manager in Chicago at Northern Trust Company. Mr. Fuhrmann is a Chartered Financial Analyst, member of the Association for Investment Management and Research (AIMR) and the Dallas Financial Analyst Society (DSFA).
Investrend Research has been a leading independent equity research publishing and distribution program since 1996, with more than 65 AIMR-qualified professional analysts posting more than 450 reports to date. Anyone, including a company, investor relations practitioner, financial institution or interested private investor, may enroll a company for coverage. Enrollment fees vary, up to $1,950 per month for full, continuous coverage, which is being paid by the company. Analysts are paid in advance for their initial reports by Investrend to insure independence. Full details of the company's policies and guidelines are posted on the website at http://www.investrendresearch.com
Anyone interested in receiving alerts regarding Stockgroup Information Systems research should email info@investrend.com with "SWEB" in the subject line.