Number 35 will come online on Tuesday. It is actually a company I like a lot, VSNT. This is a small software company that has been on and off MFI lists for the past 2 years. They are there because they reported earnings last week (which were good) but they were a little lukewarm about the future. This caused the stock to drop from $29.22 to $25.53 on Friday. Here is what their CEO said:
``We are very satisfied with the results in our third fiscal quarter, which established another record quarterly net income milestone for the Company,'' said Jochen Witte, CEO of Versant Corporation. ``However, due to the strengthening of the U.S. dollar and the difficult economic environment in the U.S. and Europe, achieving our future goals will become more challenging.''
Not terrible, but I suppose "challenging" is not a favorite word of investors. I am happy to add them to my list, I expect them to be competitive. They have about $24m in cash, for a $95 million company that has been growing quite steadily over at least the past two years, And they have a built in income stream from royalties. Here is my calc of their ratios:
|+||Operating Income After Depreciation||9.93|
|-||Minority Interest - Income Account||-|
|=||Income for Calculation||9.93|
|Market Cap Yahoo||95,100|
|+||Market Cap Calc||95.10|
|+||Debt in Current Liabilities||-|
|Cash and Short-Term Investments||27.41|
|+||Property Plant and Equipment - Net||0.79|
|+||Other Current Assests||0.80|
|-||Current Liabilities - Other||6.61|
They essentially require no capital. Seems like a quality company with quality management.