ORLANDO, Fla., April 8, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies Inc., today announced it has issued a 1Q FY 2008 research update for Onstream Media Corp. (Nasdaq:ONSM), an online services provider of live and on-demand web communications platforms.
Sumanpreet Kaur, MBS, RedChip Research Analyst, reported:
"ONSM reported sequential revenue growth for the third consecutive quarter while revenue doubled on a year-over-year basis. Key drivers behind this substantial growth were an increase in webcasting division sales and revenue contributions resulting from the April 2007 Infinite Conferencing Inc. merger. Given the Company's well-diversified portfolio and a large recurring revenue stream from a growing client base, ONSM management expects 40% revenue growth in FY08. We believe this target is achievable, as it is supported by continued organic growth and as ONSM starts to reap the full benefits of the Infinite Conferencing acquisition."
"However, we change our rating to 'Speculative Buy' from 'Buy' as we believe that the current volatility in the stock's prices leaves it better suited for investors seeking higher risk and return; we reiterate our 12-month price target of $3.20," Kaur concluded.
To receive a complimentary copy of the RedChip Visibility research report for Onstream Media Corp., please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=97&from=04082008news
About RedChip Companies Inc.
RedChip Companies is an international small-cap research and financial public relations firm with offices in Beijing and Orlando and affiliates in New York and San Diego. Dedicated to "Discovering Tomorrow's Blue Chips Today,"(tm) RedChip delivers concrete, measurable results for its clients through its extensive international market expertise as well as its comprehensive platform of products and services, including RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences held throughout the United States, RedChip TV(tm) and RedChip Radio(tm). To learn more about RedChip's products and services visit: http://www.redchip.com/visibility/productsandservices.asp
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DISCLOSURE:
Information contained in this research report is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. None of the profiles issued by RedChip Companies Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Onstream Media Corp. paid RedChip Visibility, a division of RedChip Companies Inc., in services equivalent to $36,000 for RedChip Visibility Program, which included the preparation of this equity research report. To the fullest extent permissible under applicable law, RedChip Companies Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information. To the fullest extent permitted by law, RedChip Companies Inc. will not be liable to you or anyone else under any tort, contract, negligence, strict negligence, strict liability, products liability, or other theory with respect to this presentation of information.