ORLANDO, Fla., Jan. 25, 2007 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., announced today that it has issued a research update on Global ePoint, Inc. (Pink Sheets:GEPT).
Jim Altenbach, CFA, RedChip Research Analyst, wrote in the report:
"For GEPT, as noted, the revenues from Airworks would finally be contributing a substantial amount, possibly making the Company profitable, at a time when they really would need it. This point, we believe, is evidence that GEPT is a viable company, even if it has obstacles to overcome. As they seek financing, this point will help. RedChip expects 2007 and 2008 of $40M, and $70M. We estimate EPS for 2007 of f$.11 and SPS of $1.52. The forward P/S is f.33x (FY2007). The forward P/E is f4.6x (FY2007) for GEPT, a company that we still estimate to have long-run growth potential of 75% per year. 2Q07 is expected to show a small profit, with margins normalizing into 2008. We repeat our rating of Strong Buy and place a price target that has a similar opportunity for percentage gain. This new target for 2007 is $3.50, and for 2008 and beyond, $6.50 per share."
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RedChip Independent Research Disclosure
Any opinions expressed herein are subject to change. RedChip Companies Inc. is an affiliate of the Aurelius Consulting Group, Inc. GEPT is a client of RedChip Visibility, a division of RedChip companies. GEPT did not commission this research report; nor did they compensate RedChip Companies Inc., or the Aurelius Consulting Group, Inc. for the writing of this report.