SARASOTA, Fla., May 17, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Investors may want to keep an eye on Astea International Inc. (Nasdaq:ATEA), Arel Communications and Software (Nasdaq:ARLC) and Biophan Technologies, Inc. (OTCBB:BIPH).
Astea International Inc. (Nasdaq:ATEA), a global provider of service management solutions, on May 12 released financial results for the first quarter of 2004. For the quarter ended March 31, 2004, Astea reported revenues of $5.9 million compared to revenues of $4.0 million for the quarter ended March 31, 2003, a 48% increase. Net profit for the quarter was $1.5 million or $0.51 per share, compared to a net loss of $467,000 or $0.16 per share for the same period in 2003. ATEA saw some heavier than usual volume Friday of 4,262,852 to end at $9.95, UP 3.21 (47.63%).
Arel Communications and Software (Nasdaq:ARLC) announced May 14th that the Company will announce first quarter results before the market open on May 20, 2004. On May 13th, Arel announced that its largest shareholder, Clayton L. Mathile, a strategic growth investor based in Dayton, Ohio, will increase his stake in the company by an approximate amount of up to 12%. ARLC saw volume Friday of 1,859,175 to end at $2.86, UP .72 (33.64%).
Monday's Stock Focus Alert:
Biophan Technologies, Inc. (OTCBB:BIPH) announced Friday after the closing bell that "it has acquired a majority interest in TE-Bio, LLC, a company developing a breakthrough, long-life power source for use in implanted medical devices, such as pacemakers, defibrillators, neurostimulators and drug pumps. The technology is based on a patented innovation in the utilization of thermoelectric materials, using nanoscale-based, thin-film materials to convert thermal energy produced naturally by the human body into electrical energy." BIPH trades at around $1.05 a share.
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