ORLANDO, Fla., April 11, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., has issued a 4Q 2007 research update for INX Inc. (Nasdaq:INXI), a network infrastructure professional services firm providing IP communications solutions in the United States.
Neha Bhargava, MBA, RedChip Research Analyst, reported:
"INXI reported results for 4Q07 that were largely in line with our expectations, even while the United States experienced an economic slowdown and lower consumer spending. Product order bookings, although lower in December 2007, are expected to improve as they spill over to 1Q08."
"We believe recent Cisco certifications are further evidence of Cisco's confidence in the capabilities of INXI, which places INXI on a strong and secured platform to generate higher revenues and increase its national footprint and competency in the long run," Bhargava continued.
"However, we are lowering our guidance and target price based on the recent management guidance and expected economic and technology spending weakness in the U.S. in early 2008. Accordingly, we are changing our rating to 'Hold' from our previous 'Buy' rating," he concluded.
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