NEI and Astute Networks Teaming Up
NEI (NENG), provider of server applicance products for storage, security and communications software vendors, and Astute Networks(ASUR), provider of bladed storage solutions, jointly announced the industry's first stateless AdvancedTCA server solution. This stateless solution is created by combining Asure's Caspain R1100 Edge Storage Blade with NEI's A-1300 high-availability ATCA platform.
The first demonstration of this combination took place at the NXTcomm 2008 meeting in Las Vegas June 17. . . In the meantime, NEI plans to repurchase $5 million of its stock, paying for it from a $1.8 million cash balance.
Both of these companies are Bowser Report recommendations. NEI, when it was called Network Engines, was the Company of the Month in Mar'08 at $1.48; Asure in Nov'07 at $1.37. Both are down in price since then. Incidentially, ASUR is backed by five venture capital firms
The Female Health Co. Given $1.5 million Order for Condoms from India
This Chicago-based firm, which trades on the AMEX, with the symbol "FHC," plays an important role in the international fight against HIV/AIDS. Through efforts of the World Health Organization, the United Nations and other high-profile health agencies, female condoms are available in over 100 countries. Since 2002, FHC's revenues have climbed from $9 milllion to almost $20 million. And, in the latest quarterly report, revenue was up 20% compared to the same period last year. At the same time, in these recent three months, net income zoomed 267% to $1,165,936. Management, as of March 31, had bought 430,000 shares as part of a one-million-share repurchase program authorized in January 2007.
XFONE Successfully Completes Major Acquisition
In February, XFN completed its purchase of NTS Communtications, a privately-held provider of integrated voice, data and video solutions, headquartered in Lubbock, TX. As of 2/26/08, if it were assumed that NTS had been part of XFONE for the entire year, sales would have been $111,246,775 instead of $37,914,037. (NOTE: In the June Bowser Report, the pro forma figure for the year was incorrectly listed as $11,246,775.)
Earlier this year, the Israeli unit of XFN acquired a majority stake (for $12.8 million) in Tadiran Telecom Communication Services, which sells switchboards and telecom equipment. Tadiran's annual sales are in the $25 million range. . . . Red Chip Independent (800/733-2447 has just initiated research coverage on XFN.