ORLANDO, Fla., Aug. 14, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, updated research on Global ePoint, Inc. (Nasdaq:GEPT).
Jim Altenbach, CFA, and Saeid Hamedanchi, CFA, RedChip Research Analysts, wrote in the report:
"We initiated coverage of Global ePoint, Inc. on December 30, 2005 with a Strong Buy rating. Shares initially rallied up to $4.30, and then in recent months traded down to current levels. There has been a delay in GEPT's execution that we expect to set them back no more than two to three quarters, after which we expect GEPT to meet our original projections. We maintain the 'Strong Buy' rating as GEPT is a growth opportunity, and at a price/sales ratio of f.50x (Q207), the shares are relatively cheap. We estimate EPS for 2007 of $.54, giving a forward P/E of f3.5x (fyeQ407). We project the long-term growth rate to be 75%."
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RedChip Independent Research Disclosure
RedChip Visibility, a division of RedChip Companies, Inc., and the Aurelius Consulting Group Inc. in a joint marketing agreement have been contracted by Global ePoint to increase investor awareness of GEPT to the small-cap equity community. These services may include investor conferences and digital and print distribution of GEPT investor related materials. RedChip Visibility and the Aurelius Consulting Group Inc. will receive $26,000 for these services. These services do not include writing research on GEPT or stipulate or imply either contractually or verbally that research coverage would be provided by RedChip Independent. GEPT was chosen for research coverage by RedChip Independent before it became a client of the Aurelius Consulting Group Inc. or RedChip Visibility.