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Ness Technologies Awarded Offshore Contract by Dorado Corporation
http://biz.yahoo.com/prnews/051216/ukf010.html?.v=27
Ness Technologies Awarded Offshore Contract by Dorado Corporation
Friday December 16, 7:01 am ET
HACKENSACK, New Jersey, December 16 /PRNewswire-FirstCall/ -- Ness Technologies Inc. (NASDAQ: NSTC - News), a global provider of information technology solutions and services, today announced that it has been awarded an offshore contract by Dorado Corporation, the leader in network-based software and services for the multi-trillion dollar United States home lending industry. Under the terms of the two-year contract, Ness Technologies will establish an R&D center at Ness Technologies' Managed Labs facilities in Mumbai, India.
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The new center, called the Dorado Extended Development Center (EDC), complements Dorado's existing R&D resources located at the company's headquarters in San Mateo, California. The Ness team will assist Dorado Corporation with its product solution engineering group and future initiatives.
Ness Managed Strategic Services has two offshore centers in India, in Mumbai and Bangalore. Ness' Bangalore Center houses software R&D Labs for Independent Software Vendors (ISVs). Ness' Mumbai Center specializes in applications development, maintenance and support (ADM/S) and serves information technology (IT) and information systems (IS) organizations.
"In order to deliver our ambitious roadmap, we need to grow our capacity to translate rich intellectual property and content into generally available software," said Prashant Karnik, senior vice president, Product Solutions Group, Dorado Corporation. "Being a leading software vendor demands the ability to deliver quality products on time within a cost model adapted to our industry. By leveraging Ness' experience, talented personnel, and proven quality standards, we are poised to expand our position as a leading technology provider to the fast growing home lending market."
"Ness Technologies will leverage its rich experience of product lifecycle management and mature offshore process capabilities to help Dorado expand its solution development capacity and shorten its delivery cycles," said Shashank Samant, President, Ness Managed Strategic Services. "We are delighted to welcome a leading player like Dorado to our ISV ecosystem and look forward to building a strong and mutually beneficial partnership."
The Software Labs (Extended Development Centers - EDCs) at Ness' Bangalore and Mumbai Center manage and execute the software development and consulting work for engineering, maintenance and sustenance (Continuous Product Engineering - CPE); multi-platform and functional testing and certification; professional services or solutions organizations (customer funded developments); consulting and system-integration on client projects; support (level 2 and 3); tech-pubs and training organizations of the client ISVs.
About Dorado Corporation
Dorado Corporation delivers an on-demand network of applications and services to the home lending point of sale. Dorado's innovative network-based solutions are utilized by numerous top- and emerging-tier lenders and today enable more than 200,000 lending professionals to increase efficiency and productivity at the point of sale. The solutions also drive cross-sell/up-sell opportunities by increasing workflow flexibility and simplifying technology integrations for leading lenders such as Chase Manhattan Mortgage Corp, Citi, Countrywide Home Loans, and Washington Mutual. www.dorado.com.
Oscar Gruss starts Ness with Buy rating
11.12.05 | 11:14 By Omri Cohen
Oscar Gruss on Friday started coverage of Ness Technologies (Nasdaq: NSTC) with a Buy rating.
Analyst Ehud Eisenstein's 12-month price target for Ness is $13, which is 30% above its level on Nasdaq.
Ness is Israel's biggest information technology house. It also boasts strong presence in India and in eastern Europe. Eisenstein believes it's an attractive investment opportunity, bringing exposure to the sector of outsourced computer services.
He predicts Ness will present 25.7% revenue growth in 2005 to $382.7 million, and that profit will increase 51.4% year over year to $21.8 million, or 63 cents per share on a pro forma basis.
For 2006 Eisenstein projects 18.5% revenue growth to $453.6 million, and a 43.6% increase in earnings to $31.3 million, or 85 cents per share (pro forma).
The upswing in the Israeli economy should support 10% revenue growth for Ness, while overseas operations will provide 30% of the company's upper-line growth.
Ness is the leader in computerization services in Israel, an industry Eisenstein calculates to be worth $1.3 billion a year.
"Ness holds 15% of the Israeli market, which supplies 54% of its revenues. Despite the fierce competition, its status as sole provider of SAP systems in Israel differentiates it from the rivals," he explains.
He also praises its overseas operations, which focus on two main fast-growing markets: the U.S. and India. It is also active in the east European sphere.
He foresees Ness will continue to buy companies in India, and is likely to start operating in computer outsourcing in China.
http://www.haaretz.com/hasen/spages/656337.html
Dubi
Case for a Higher Stock Price and Valuation
Here is a case for a higher stock price and valation. Price now at $10
See the link below - Clearstation great site
http://clearstation.etrade.com/cgi-bin/fundamentals?Event=earnings&Symbol=NSTC&n /a
EPS
9/04 $.14
12/04 $.16
3/05 $.14
6/05 $.13
9/05 $.17
12/05 Est $.17 Low $.18 Mean $.20 High
Year Ending 12/05 $.62 Mean
3/06 Est $.20 Mean
Year Ending 12/06 $.86
Company P/E 18
Industry Sector P/E 31
Ness's P/E will increase to the Industry Sector P/E when they produce a track record of meeting or exceeding increasing EPS guidance. The Street does NOT like surprises - especially negative ones.
Price Expectation?
$.62 Yr ending EPS 2005 x 18 P/E = $11.16 Price
$.86 Yr ending EPS 2006 x 18 P/E - $15.50 Price
And what if The Street starts to bring the valuation to a higher level? You do the math...
GLTA
Bylo
Ness Technologies Wins $5 Million Contract With Strauss-Elite to Establish SAP-Based ERP System
HACKENSACK, New Jersey, November 23, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of IT solutions and services, today announced that it has been awarded a contract by Strauss-Elite, one of Israel's largest food manufacturers, to establish a comprehensive SAP-based enterprise-wide ERP system. The project is estimated to be worth a total of approximately $5 million over two years.
Strauss-Elite was formed in 2004 through the merger of Elite Industries and Strauss Dairies. The new SAP-based unified system will replace the existing separate SAP ERP systems. The new system will serve approximately 1,500 people.
Deloitte's consulting services will serve as a subcontractor to Ness Technologies and will provide the necessary knowledge, based on Deloitte's experience in merging IT systems and processes in the food industry.
The new IT system, which will be jointly implemented by Strauss-Elite and Ness Technologies, will be based on mySAP Business Suite - the world's most comprehensive family of adaptive business solutions, providing best-of-breed functionality, complete integration, industry-specific capabilities, unlimited scalability, and easy collaboration over the Internet. The project includes the implementation and integration of the system.
"The new project represents an important milestone in the merger of Strauss and Elite, which began in March 2004, reflecting our vision to create one company with unified processes," said Giora Bar-Dea, CEO of Strauss-Elite. "The new project is a further step in our outstanding cooperation and value added partnership with Ness Technologies, which has proved to be a top-level IT solutions and services provider."
"Strauss and Elite were among the pioneers in the implementation of SAP Solutions in Israel," said Raviv Zoller, President and CEO of Ness Technologies. "The new SAP-based system will enable the merged company to use the same tools and speak the same language. In addition, it will streamline supply chain, sales, procurement and collection processes, as well as customer support."
"Deloitte has developed a solution for the food and beverage industry in cooperation with SAP, with an investment of $40 million," said Michal Simler, Partner, Head of Management Consulting Services, Deloitte-Israel. "Deloitte brings to the project's its accrued worldwide knowledge and experience in systems unification and master data management. During the project, the suitability of Deloitte's solution will be evaluated according to the project's needs."
Elite and Strauss implemented an enterprise-wide SAP ERP system in Strauss in 1998. In 2004 the two companies merged into one large enterprise and decided to consolidate their information systems and to implement mySAP Business Suite which will encompass the entire business and operational processes at Strauss-Elite.
About Strauss-Elite
A publicly-traded family-owned company, Strauss-Elite possess many of Israel's best-loved food brands. These include dairy products, coffee, confectionery, ice cream, salads, salty snacks, baked goods and more, which are available in practically every point of sale in Israel. Building on its 70-year legacy, Strauss-Elite follows its founders' tradition, vision and values, in terms of contributing to the community, in order to make a genuine difference in Israeli society. The company operates in 11 countries and is fast becoming a significant roast & ground coffee player in the international arena. Strauss-Elite distributes some of its chilled products through Sabra, its US-based company and the third-largest Mediterranean dip producer and distributor in the United States. For more information about Strauss-Elite, visit www.strauss-elite.co.il
About Ness Technologies Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,700 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
Shachar Efal Named President of Ness Israel - a Newly Formed Business Unit
Monday November 21, 7:01 am ET
http://biz.yahoo.com/prnews/051121/ukm006.html?.v=36
HACKENSACK, New Jersey and TEL-AVIV, Israel, November 21 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT solutions and services, today announced the formation of Ness Israel , a newly formed business unit, and the appointment of Shachar Efal as President of Ness Israel effective November 20, 2005
The formation of Ness Israel reflects Ness Technologies' commitment to increasing operating efficiency, reducing costs and improving flexibility to meet changing client and market needs. Under the new structure Ness merged its Israeli based IT Services and Managed Services groups to form Ness Israel. Ness Israel is now structured in line with the other business operations of Ness Technologies, which are organized around major geographical regions, including Ness Europe, Ness Asia Pacific and Ness USA. Ness' Systems Group, headed by Michael Zinderman, which focuses on the defense and telecom markets, will continue to operate as an independent group, despite its location in Israel, due to its unique global client base.
Ness Israel' formation includes the consolidation of Israeli business units and functions, including outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training.
"The formation of Ness Israel and Shachar's appointment underscore the momentum that we are building throughout the Company. The streamlining of our Israeli operations further demonstrates Ness' commitment to growing our market share, increasing operational efficiencies and driving long-term profitability," said Raviv Zoller, President and CEO of Ness Technologies. "Shachar's appointment, as well as the appointment of other executives during the current round of appointments, is in line with our policy to promote outstanding executives. The current changes will enable me to increase my focus on Ness' global activities and growth."
"I am excited about the opportunity to serve Ness Technologies as president of Ness Israel and look forward to working with our wonderful Israeli team and network of partners," said Shachar Efal. "We will continue to do our utmost to deliver the highest quality and most innovative IT solutions and services to our customers."
Shachar Efal joined Ness Technologies in 1999 as president of the Company's Integration and Networking Group. Since January 2004, Efal has served as president of the Managed Services Group in Israel.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,700 employees, Ness maintains operations in 15 countries across North America, Europe and Asia, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
Increased Guidance
Guidance
For the fourth quarter 2005 Ness expects to generate revenues in the range of $101 million to $104 million and diluted net earnings per share in the range of $0.17 to $0.20.
The Company is increasing its 2005 annual revenue guidance to a range of $381 million to $384 million, from its previously stated range of $376 million to $381 million, based on the increased revenue contribution expected from Ness Slovakia as result of the Delta acquisition which closed on October 3, 2005.
Full year 2005 diluted net earnings per share guidance remains in the range of $0.63 to $0.66.
Profitability
"We continue to grow our bottom line profitability at a faster pace than our solid top line growth rate. This trend reflects the significant operating leverage we are yielding from our strategic business model on a global basis," stated Ytzhak Edelman, Executive Vice President and Chief Financial Officer, Ness Technologies, Inc. "The initiatives we announced last quarter to reduce our financial expenses are yielding positive and measurable results. We remain dedicated to further reducing our financial expenses and to maintaining a lower level of foreign exchange exposure related to our global operating structure. Overall, we remain focused on further increasing our operating and bottom line profitability."
Ness Technologies Announces Record Third Quarter 2005 Financial Results
Tuesday November 8, 5:31 am ET
Net Income Rises 63% and Operating Income Rises 42% Year-Over-Year on a 27% Increase in Revenues
HACKENSACK, New Jersey, November 8 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT services and solutions, today announced financial results for the third quarter ended September 30, 2005.
Third Quarter 2005 Highlights:
- Revenues reached a record $97.7 million, up 27% year-over-year.
- Operating income increased to a record $7.7 million, up 42%
year-over-year.
- Net income increased to a record $6.0 million, up 63% year-over-year.
- Backlog increased to $439 million, up 24% year-over year.
- Global workforce increased by 295 sequentially to 5,725.
"The strength of our third quarter financial performance reflects our success in implementing our strategy of building a leadership position in targeted business verticals and penetrating key geographic markets, as we continue to grow our global diversified customer base," stated Raviv Zoller, President and Chief Executive Officer of Ness Technologies. "Our record quarterly revenue, as well as operating and net income provide clear evidence of our ability to capitalize on the growing demand for our services while increasing billable headcount and keeping a tight control on expenses."
Ness' third quarter 2005 revenues totaled $97.7 million, an increase of $20.5 million or 27%, compared to $77.2 million in the third quarter of 2004.
Third quarter 2005 operating income increased to $7.7 million, an increase of $2.3 million or 42%, compared to $5.4 million in the third quarter of 2004.
Third quarter 2005 net income increased to $6.0 million, an increase of $2.3 million or 63%, compared to $3.7 million in the third quarter of 2004. Diluted net earnings per share for the third quarter of 2005 were $0.17 compared to $0.14 in the third quarter of 2004. The year-over-year diluted net earnings per share comparison was impacted by the change in share count since the third quarter of 2004, when Ness completed its initial public offering.
Backlog as of September 30, 2005 increased to $439 million, up 24% compared to $354 million as of September 30, 2004.
"We continue to grow our bottom line profitability at a faster pace than our solid top line growth rate. This trend reflects the significant operating leverage we are yielding from our strategic business model on a global basis," stated Ytzhak Edelman, Executive Vice President and Chief Financial Officer, Ness Technologies, Inc. "The initiatives we announced last quarter to reduce our financial expenses are yielding positive and measurable results. We remain dedicated to further reducing our financial expenses and to maintaining a lower level of foreign exchange exposure related to our global operating structure. Overall, we remain focused on further increasing our operating and bottom line profitability."
Guidance
For the fourth quarter 2005 Ness expects to generate revenues in the range of $101 million to $104 million and diluted net earnings per share in the range of $0.17 to $0.20.
The Company is increasing its 2005 annual revenue guidance to a range of $381 million to $384 million, from its previously stated range of $376 million to $381 million, based on the increased revenue contribution expected from Ness Slovakia as result of the Delta acquisition which closed on October 3, 2005.
Full year 2005 diluted net earnings per share guidance remains in the range of $0.63 to $0.66.
Nice Gap up today - Earnings Tommorrow
I think we are in for a pleasant surprise. Hopefully we can start a trend of guidance meets or exceeds. Outstanding shares 35M - the stock will move very nicely based on the low float. I see a move over $10 to $11. The move from there is determined by the company's future guidance.
GLTA
FIBI outsources IT service to EDS, Ness for NIS 570m
The First International Bank of Israel expects to save NIS 208 million on what is Israel’s largest outsourcing transaction.
Ofer Levi 31 Oct 05 11:43
First International Bank of Israel (TASE: FTIN1;FTIN5) announced at the end of last week that it had completed Israel’s largest outsourcing deal. The bank will outsource its central, departmental, and personal computer activity and its communications equipment procurement to Electronic Data Systems (EDS) Israel and Ness Technologies (Nasdaq: NSTC) in an eight-year NIS 570 million project ($120 million including VAT).
EDS Israel will be chief contractor in the project, and will have two thirds of the tender, amounting to $80 million. EDS Israel and Ness overcame IBM Israel and Matrix IT (TASE: MTRX) in the tender. The contract is expected to increase EDS Israel’s revenue by 15% in 2006.
First International Bank said that outsourcing would save an average of NIS 26 million a year, making a total of NIS 208 over the period of the contract.
When the project begins, 100 employees of MATAF (First International Bank's IT subsidiary) will transfer to EDS Israel.
First International Bank is the first Israeli bank to outsource its computer activity. If the measure is successful, other Israeli banks are expected to transfer some of their computer activity to external suppliers.
Published by Globes [online] - www.globes.co.il - on October 31, 2005
http://www.globes.co.il/serveen/globes/docview.asp?did=1000023757&fid=942
Dubi
Ness Energy President Furthering Efforts in Israel; Interviewed for Documentary
10/28/2005 2:17:10 PM
WILLOW PARK, Texas and NETANYA, Israel, Oct 28, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ness Energy announced today that its President and CEO, Sha Stephens, is in Israel furthering efforts toward the realization of The Vision of Ness Energy.
Mr. Stephens has been in the country of Israel for more than a week meeting with Government officials, the oil and gas community, shareholders of Modi'in Partnership, and various other parties with which Ness is involved. Stephens reports, "All in all the series of meetings has gone very well. The enthusiasm we have met regarding further pursuit of drilling for oil in Israel has been outstanding."
Prior to his departure, Mr. Stephens was approached by London's Channel 4 TV, a major television station, regarding a possible interview. Mr. Stephens was interviewed for more than 10 hours for what will be part of a 2 hour documentary. Filming took place over three days in Jerusalem and Arad, where Ness owns wells which are ready for rework, as well as the Dead Sea site that Ness founder Hayseed Stephens attempted to drill back in the mid 1980's. Mr. Stephens said, "It was an honor for London TV to have an interest in our plans, dreams and The Vision of Ness Energy. The program will focus on the prophetic side of The Vision. I was able to convey to them that not only do we have the scripture my dad was led to the country with, we now have science to support the scripture. Dad always said that the Dead Sea, in particular the southwest end of the Dead Sea is where science and the bible shake hands, and we are going to prove that."
Also, while there, Israeli TV channel 22 interviewed Mr. Stephens. Stephens commented, "I firmly believe that the time is growing very near for The Vision to be realized. God is working to bring free publicity to the company, something we have never had. This will increase exposure for Ness and aid us as we continue to move forward."
About Ness -- The Vision
Ness Energy is an aggressive, emerging oil and gas company building on deals that make sense. Ness Energy operates interests in the Ft. Worth Basin and the Coastal Plains regions of Texas. Ness is also a very active player in the energy industry in Israel, carrying out The Vision of The Company. Ness Energy is building at a high-speed pace through Merger, Acquisitions, Drilling, Re-Work and Re-Entry.
Visit us on the web at http://www.nessenergy.com
SOURCE Ness Energy International, Inc.
Any connection?
Dubi
Ness Czech Among Top 10
http://biz.yahoo.com/prnews/051024/ukm008.html?.v=32
Ness Czech Ranked Among the Top 10 System Integrators in the Czech Republic
Monday October 24, 6:41 am ET
PRAGUE, Czech Republic, October 24 /PRNewswire-FirstCall/ -- Ness Technologies (NASDAQ: NSTC - News), a global provider of IT solutions and services, today announced that its subsidiary Ness Czech has been ranked as one of the Czech top 10 system integrators in 2005. This is the sixth time that Ness Czech has been included in the ranking on the prestigious TOP 10 list.
The annual contest, which is considered the most prestigious IT contest in the Czech Republic, identifies the top 10 players in the Czech IT market, maps the Czech system integration market, and enables the nominees to address experts as well as the general public with their views on system integration.
The contest is organized by leading Czech organizations including the Czech System Integration Society, the Czech Association of CIOs and leading companies.
"To be named as one of the Czech Republic's top system integrators for the sixth time is further recognition of Ness' achievements, hard work and dedication of its talented employees," said Milan Sames, Managing Director of Ness Czech. "It is recognition of the quality of our work, based on the many years of experience in system integration and serves as an incentive to continue delivering leading-edge services to our clients."
The jury members included 190 leading IT professionals, and their judgement was based on several criteria. The most critical criteria were professionalism of services, customer satisfaction, and innovativeness of services. In addition, each candidate submitted two sample projects to the contest. Ness Czech submitted IT outsourcing and system integration projects at VITKOVICE, a major Czech metallurgical and machine engineering company, and at the Czech subsidiary of the Austrian Bank Waldviertler Sparkasse von 1842. The judgement was based on information from the entrants as well as the respective clients.
In addition to Ness, the TOP 10 2005 list also included LogicaCMG, Hewlett-Packard, Siemens Business Services, AutoCont CZ, DELTAX Systems, E.ON IS Czech Republic, ICZ, IDS Scheer CR and PVT.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,600 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world.
Ness Technologies Named to Software Magazine's 23rd Annual Software 500
Monday October 10, 7:00 am ET
Software Magazine Ranks Ness Technologies as one of the World's Largest Software Companies
HACKENSACK, New Jersey, October 10 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT solutions and services, today announced its inclusion on the Software 500, Software Magazine's list of the world's foremost software and services providers, published as an online catalog on www.Softwaremag.com.
Ness Technologies was ranked 120. Ness Technologies' 2004 total revenues were $305 million, representing an increase of close to 35% year-over-year. Revenues for the first half of 2005 were $183 million.
"It is a great honor for Ness Technologies to be recognized by Software Magazine as one of the world's largest software companies, and it validates our successful global growth strategy," said Raviv Zoller, President and CEO of Ness Technologies. "This is recognition of the commitment of our customers and partners, and the hard work and dedication of our talented employees. We are well positioned for continued leadership in the IT services market worldwide."
"The overall health of the software and services industries has improved, with revenue for the 2005 software 500 at $383.3 billion worldwide for 2004, an increase of 16.5% over the previous year. The industry continues to be dynamic, with nearly 100 new companies on the 2005 Software 500 list," says John P. Desmond, editor of Software Magazine and Softwaremag.com. "Employee head count was up 13.7% and was strongest in the segments of collaboration/project management, system integration services and IT consulting, and the supply chain/manufacturing software segment."
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. The list includes both private and public companies; 28% of the 2004 Software 500 companies are private. The Software 500 is searchable by primary business sector on www.Softwaremag.com, free to all site registrants. "The online Software 500 is a valuable resource for CIOs, senior IT managers and IT staff for researching their vendor partner options. It is a quick reference of vendor viability," Desmond says.
The ranking is based on total worldwide software and service revenue for 2004. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at www.Softwaremag.com, as well as from public documents.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,500 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
About King Content Co. and Software 500 Marketing Perspectives Conference & Expo
King Content Co., owner of Software Magazine, this year is launching the Software 500 Marketing Perspectives Conference & Expo, being held Oct. 11-12, 2005 at the Hyatt Regency Cambridge in Cambridge, Mass. The SMP event will bring together high technology product managers, marketing and public relations professionals for a two-day conference program. Increase your personal success and make peer-to-peer personal connections with in-depth technical discussions by attending the event. For more information and to register, go to www.smpevent.com
http://biz.yahoo.com/prnews/051010/ukm006.html?.v=30
Dubi
Ness Technologies Sets Reporting Date for Third Quarter 2005 Financial Results
Thursday October 6, 9:06 am ET
HACKENSACK, New Jersey, October 6 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT services and solutions, today announced the Company will release financial results for the third quarter 2005, ended September 30, 2005, before the open of trading on Tuesday, November 8, 2005.
Ness Technologies President and Chief Executive Officer Raviv Zoller and Executive Vice President and Chief Financial Officer Ytzhak Edelman will conduct a conference call to discuss the third quarter 2005 results, which will be simultaneously webcast at 9:00 A.M. Eastern Time / 6:00 A.M. Pacific Time on Tuesday, November 8, 2005.
To access the Ness Technologies third quarter 2005 earnings conference call participants in North America should dial 1-800-399-0427 and international participants should dial 1-706-634-5453. A live webcast of the conference call will also be available on the investor relations page of the Ness Technologies corporate web site at www.ness.com. Please visit the web site at least 15 minutes early to register for the teleconference webcast and download any necessary audio software. A replay of the call will be available on the web site approximately two hours after the conference call is completed.
About Ness Technologies
Ness Technologies, Inc. (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,500 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness visit www.ness.com.
http://biz.yahoo.com/prnews/051006/ukth014.html?.v=18
Dubi
I keep updating in spite of not owning any.
Bylo,
>>markets are VERY efficient<<
Surely NOT always.
>> local and IMO did not change <<
By itself any small deal does not affect
fundamentals, but it is the principle
that counts.
>>I am bullish on the prospects<<
Ok, your money, your risk, your reward.
>>they monitor the message boards to get feedback on shareholder sentiment<<
I doubt it(but do not let me discourage you, as an
investor you have to check on the company you own)
>>Best of luck<<
Same-same,
Dubi
Dubi
With all due respect the markets are VERY efficient and news and events are built into the price of a security.
You said: "I could have benefited from the situation, as a Hebrew speaker I could have an edge"
The events that were published in Hebrew were local and IMO did not change the overall EPS and guidance for the company from a big picture standpoint. I continue to agree with you they do not fully comprehend the majority of their stock ownership is held by english speaking public and they should communciate effectively in English with all events.
The company's promotion, marketing and promotion is an area for improvement.
Bottom line with volume over 800K shares yesterday I am bullish on the prospects. I will address my concerns with the company as well. I hope they monitor the message boards to get feedback on shareholder sentiment.
Best of luck
Bylo
Bylo,
Info should be properly issued to all at the same time,
in the official language(in NSTC case, English as stock
is trading in the Naz).
Relevant info should as well be duly submitted to SEC
as well asap.Is this properly done? I wonder.
Please understand my point(s).I could have benefited from
the situation, as a Hebrew speaker i could have an edge,
but this is not what i am looking for.
It is not the lack of exposure and awareness, rather a
very crucial point in managing a public company.
It seems to me that NSTC has not yet adopted the notion
they are NOT a private company any longer.
Once again, i do not wish to seem like a hurt ex investor.
I urge you to pursue this issue, if you want to sleep better.
Furthermore, i chose not to make an issue of it in Yahoo.
I am simply out even though i estimate NSTC has great potential businesswise.
Perhaps it is no coincidence that current price is considerably less than IPO price?
Conduct your DD and if you feel comfortable with this
investment, so be it.I for sure did not feel comfy.
GLTY,
Dubi
Dubi
Great point which I agree with. When you communicate in Hebrew only vs issing a PR in english also you very much limit your exposoure and awareness. The company may say this was local news only and not large enough to warrant a press release. Another example is the quarterly conference call where the company could use a more well spoken spokesperson IMHO. Bottom line they have a very good story to tell and they could do a better job getting the word out.
Be well
Bylo
Bylo,
In two separate cases i found news/contracts in Hebrew,
and not in a official PR as it should.
All my attempts to have a reasonable reply or to have
this matter fixed, failed.
Whenever a company acts this way, i feel extremely uneasy.
Risk in the stock market is a given i am willing to take,
but an item of this nature, no sir!
I will not turn basher, and i urge you to try pursuing
this issue further if you do not want an unpleasant surprise.
Of course i wish you good fortune.This is my last word on
this issue.
Regards,
Dubi
Anyone!
Great move today price over $10 - does anyone know what is happening.
Quarter is ending tomorrow - great quarter?
There is speculation of a buyout - any credence to that rumor?
Thank you
Dubi
Kind of surprised you were not able to get through. I am in the States and spoke to Daphna Golden in IR a couple of times at length on the phone and she replied to my emails timely as well.
Bottom line you measure investments whether money is made or not. I think this stock is about to pop - time will tell.
Take Care
Bylo
Bylo,
>>I will remain patient<<
By all means Bylo, the company is splendid, no doubts
about it, but if all my attempts to communicate with
them fail, i bail out.
It is not all about money.
GLTY, and hopefully your targets are met.
BTW, i have no hard feelings, i did make some money on
it.Luckily i averaged down on time.
Dubi
Dubi
Wish you well - I do agree the company's IR/PR could be improved and they do not promote the company as well I would like but....
Bottom line if the company performs from a financial perspective and continues to profitably grow revenue - meet or exceed EPS guidance the stock will rise based on the low # of shares outstanding.
I will remain patient with this one - especially to wait for the Q3 results. If targets are met the stock will move with it.
Good luck
Bylo
A company with no IR/PR is NOT for me,
Over & Outta here!
Good luck to the remaining fellas.
Dubi
Giuliani visits Israel
Former NYC Mayor Rudolph W. Giuliani will attend a Ness Technologies conference.
Globes’ correspondent 21 Sep 05 16:37
Former NYC Mayor Rudolph W. Giuliani is visiting Israel today as a guest of Ness Technologies (Nasdaq: NSTC), Israel’s leading information services company. He will attend the company’s Leadership Through Information Technology conference, where he will deliver the keynote address.
Giuliani is the author of the bestseller, “Leadership”.
Published by Globes [online] - www.globes.co.il - on September 21, 2005
Dubi
Not for the FIRST time,
http://post.messages.yahoo.com/bbs?.mm=FN&action=m&board=1609068559&tid=nstc&sid=160...
This time, i will NOT let go.
I have a say as a shareholder, and will act agressively
to make this point very clear.
Yesterday, i made the same point with OTIV, a different
company, but a very similar situation.
http://www.investorshub.com/boards/read_msg.asp?message_id=7802178
Dubi
>>Companies include: Ness Technologies (NSTC),<<
India's Gaining Market Share a key topic of The Wall Street Transcript IT Services Report
Wednesday September 14, 8:43 am ET
67 WALL STREET, New York--September 14, 2005--The Wall Street Transcript has just published its IT Services report, offering a timely review of the sector to serious investors and industry executives. This 38-page feature contains expert analysis from three leading research analysts, plus industry commentary through in-depth interviews with top management from 7 firms. An "Off-The-Record" review of management by management is also included. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Long-term growth metrics, India's market share, Indian Strategy of US firms, Technology education, Offshore solutions, Government IT growth, Global markets, M&A trends, Outsourcing & consulting markets, Investor attitudes, Stock recommendations, Stocks to avoid.
Companies include: Accenture (ACN), BearingPoint (BE), Infosys Technologies (INFY), Satyam Computer Services (SAY), Cognizant Technology Solutions (CTSH), Ness Technologies (NSTC), DiamondCluster (DTPI), CIBER (CBR), CACI (CAI), SRA International (SRX), Cognizant (CTSH), Covansys (CVNS), Kanbay (KBAY), SI International (SINT), MTC Technologies (MTCT), Anteon (ANT), ManTech (MANT), Lockheed Martin (LMT), Northrop Grumman (NOC), Wipro Limited (WIT), First Data (FDC), Fiserv (FISV), Global Payments (GPN), iPayment (IPMT), Alliance Data Systems (ADS), Zanett Inc (ZANE), Allin Corporation (ALLN), Syntel INC (SYNT), Answerthink INC (ANSR), SRA International INC. (SRX), Associated Network Solutions PLC. (ANS.L), Analysts Include: Jamie Friedman, Fulcrum Global Partners LLC, Sandra Notardonato, Robert W. Baird & Co., Moshe Katri, SG Cowen Securities Corp.
In the following brief excerpt from the 38 page report, Jamie Friedman discusses the ongoing market share gains of India in the IT Services sector, and the outlook for investors.
TWST: Looking at the services side, what's going on from a business perspective so far this year?
Mr. Friedman: You can segment the industry as follows. There are the pure commercial vendors that sell to the private sector. There are the public sector vendors that sell into the federal, state and local governments. There are the offshore vendors and then there are the captives or conglomerates that marry all three. In general, there have been fairly good growth indicators from all three sectors. We have average pricing in each sector improving maybe hundreds of basis points for the first time in a number of years. What the companies are struggling with still is the cost side, i.e., managing their margins.
TWST: Is the demand just reflective of a better general environment?
Mr. Friedman: SAP (SAP), which is maybe the largest application software vendor, increased their sales about 15% in the first half of calendar 2005, and that has called in a need for systems integration from the guys who actually put that stuff in place. The demand is reflective of modest improvement in IT purchasing at the level where you require systems integration. So although we have had PC sales that have been decent for a number of years, this is the first year since arguably the end of 2001 where we have seen acceleration on the enterprise side,
TWST: That means India continues to take market share?
Mr. Friedman: India continues to take market share from an investment point of view, which is what most Wall Street Transcript readers are interested in. American investors and American companies are participating in India. So just because it's sourced from India doesn't mean it's owned by India. The main companies are Accenture, which has spoken publicly about having 50,000 employees in India over some time frame of years, but that's a big number, in concert with IBM (IBM), General Electric (GE), Hewlett-Packard (HPQ), Oracle (ORCL), and Cognizant, which is a captive. It's a US-based company with their IT services offshore. At the same time, you have the Indian guys coming here. You have Infosys opening up a domestic consultancy in the US, and you have Satyam with a nearshore model that's in the US. So we have four guys here for six guys there. The borders are blurring for a global delivery model, but there are still a couple of constants like in any industry.
One, you look for purchasing power parity, which means that you go to the low-cost provider. Two, you have to have fungible IT talent. What that means is that you have to have IT talent that's educated, whether it's in the United States or in India, with a certain level of skill sets and business process knowledge. I would argue that the business process knowledge is still a little behind the curve in India, though it is much better than it used to be. So basically, you can get highly qualified, cheaper labor in India, which means that you, as a commercial vendor of IT services, need to have a presence in outsourcing.
TWST: When you talk to investors about this space, what's the prime concern or question?
Mr. Friedman: I've been covering this subject for two years, and if we talk to five investors about outsourcing, there will be two people who have been doing it less than I have, there will be two people who have been doing it more than I have, and there will be one person like me. The point is that there is quite a bit of new interest in outsourcing, but among the people who have been doing it for a while, the focus is not so much on the demand trends, which are good, it's more on the cost trends because the increased demand is causing wage inflation.
There are about 200,000 graduates from the Indian Institute each year. At that level, there is minimal wage inflation, but when you get into the third, fourth and fifth years of middle management where people actually have customer-facing relationships, that means they start to know their customers and tend to have some wage inflation at that sector. So the focus really for the last six months has been on operating margins because, although rates are rising modestly and revenue is rising nicely, costs are rising on the labor side as fast. So the companies are struggling to maintain their margins.
TWST: Given that, what are you telling investors to do in this space?
Mr. Friedman: You need to have exposure to India; you should be disciplined on multiples. The company that we like the most is Satyam, in part because it trades at half the multiple of the peers. It has a multiple of around 20 times next year's earnings, whereas some of the peers are in the 40s. It has probably the best chance at stable operating margins, and it has the largest SAP practice in India. So that combines to us to make an attractive investment.
TWST: Why the multiple disparity?
Mr. Friedman: The multiple is lower at Satyam because the growth rate is lower. Cognizant has the fastest growth rate at about 50%; Infosys is the next fastest at 40%, Satyam is about 35%. So they are growing slower. So on a p/e to growth basis, they trade at a similar ratio to Cognizant, but on a pure p/e basis, they trade 20 times where Cognizant trades 50 times. Our point would be, you are not going to get multiple expansions out of a 50 multiple company, but you could get multiple expansions out of a 20 multiple company.
TWST: Who are they serving?
Mr. Friedman: Satyam's largest customer is General Electric, but DuPont (DD) was a recently announced customer along with Ford Motor Company (F).
TWST: So they are playing with the big boys?
Mr. Friedman: They have big, big customers. A typical customer spends somewhere between $3 million and $30 million a year with them.
TWST: As one of the smaller players, can they compete with the big guys?
Mr. Friedman: They are not as small as you might think, first of all. They are $5 billion market cap. They are mid-cap, but they are bigger than some of the other ones that you might hear about like Kanbay International (KBAY) and Ness Technologies. They are not as big as Infosys, which is $20 billion, and not as big as Cognizant, which is $10 billion. They compete in part by having made a decision maybe three years ago to build as big an SAP practice as they could, and they really married that vendor. So what is good for SAP accrues to Satyam. In addition, they are not as concentrated in the tech hubs in India like Bangalore; they are more in Calcutta. So they don't see the type of wage competition that you might in other parts of India.
TWST: So they have a slight edge there?
Mr. Friedman: They have a slight edge there. Satyam is probably our best idea in India.
The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. This 38-page special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online .
http://biz.yahoo.com/twst/050914/zar800.html
Dubi
ByloCellhi,
Personally, i will start selling my mid 8 $ shares
at no less than 10.5, holding onto my initial higher
priced shares at least till they reach the IPO price
level.
A good solid company, and even todays current price
does nor really reflect its fair value.
Best,
Dubi
Dubi
Same to you good minds think alike - I too added in the mid 8's and now will reap the move up.
The 2nd quarter was not that bad - revenue target exceeded and a one time expense which forced them to miss guidance by $.01 or $.02.
I firmly believe the new CFO is taking control and the company's guidance going forward will be more conservative. The Street does not like negative surprises only positive ones...
A $370M profitable company with only 35M shares outstanding. I love this stock and think it will continue to move up. There is some major accumulation going on. The large brokerage house ie Merrill Lynch and others are getting their clients in this stock and soon the Strong Buy recommendation will be issued.
Take care
ByloCellhi,
Truth is i never understood the weakness, and just added,
averaging down.
Next price target is the IPO price.
GL,
Dubi
Dubi
The positive action continues - Over $10 today very nice move over the last 3 weeks. Some large accumulation - note some very successful mutual funds have positions in this stock. Fidelity Small Cap and Contrafund funds
TOP INSTITUTIONAL HOLDERS
Holder Shares % Out Value* Reported
FMR CORPORATION (FIDELITY MANAGEMENT & RESEARCH CORP) 2,907,885 8.48 $34,836,462 31-Mar-05
GALLEON MANAGEMENT L.P. 2,011,072 5.86 $24,092,642 31-Mar-05
AXA 1,692,981 4.94 $20,281,912 31-Mar-05
JLF ASSET MANAGEMENT, L.L.C. 1,489,154 4.34 $17,840,064 31-Mar-05
SCHRODER INVESTMENT MANAGEMENT GROUP 1,313,600 3.83 $15,736,928 31-Mar-05
CITADEL LIMITED PARTNERSHIP 919,535 2.68 $11,016,029 31-Mar-05
SELIGMAN J.W.&CO INCORPORATED 701,000 2.04 $8,397,980 31-Mar-05
Amvescap Plc 554,900 1.62 $6,647,702 31-Mar-05
PIER CAPITAL, LLC 517,130 1.51 $6,195,217 31-Mar-05
SAGAMORE HILL CAPITAL MANAGEMENT LP 300,100 .87 $3,595,198 31-Mar-05
TOP MUTUAL FUND HOLDERS
Holder Shares % Out Value* Reported
FIDELITY SMALL CAP STOCK FUND 1,231,032 3.59 $13,332,076 30-Apr-05
FIDELITY CONTRAFUND INC 1,197,212 3.49 $14,342,599 31-Mar-05
SELIGMAN COMMUNICATIONS AND INFORMATION FUND INC 579,700 1.69 $8,625,936 31-Dec-04
VARIABLE INSURANCE PRODUCTS FD II-CONTRAFUND PORTFOLIO 343,045 1.00 $4,109,679 31-Mar-05
ALLIANCE BERNSTEIN SMALL CAP GROWTH FUND 340,000 .99 $4,494,800 31-Oct-04
SALOMON BROTHERS SMALL CAP GROWTH FUND 307,500 .90 $4,575,600 31-Dec-04
FIDELITY SELECT PORTFOLIOS - SOFTWARE & COMPUTER SERVICE 225,000 .66 $2,956,500 28-Feb-05
ALLIANCE BERNSTEIN SMALL CAP GROWTH INSTITUTIONAL FUND 172,800 .50 $2,291,328 31-Jan-05
AXP Global Series-World Technologies Portfolio 169,700 .49 $2,250,222 31-Jan-05
FIDELITY ADVISOR NEW INSIGHTS FUND 115,700 .34 $1,386,086 31-Mar-05
Achhhhhhh finally some positive action.
I thought nothing, NOTHING would cause
this company get going.
Some sense finally.
Dubi
Ness Technologies awarded Hollywood Media IT contract
The outsourcing project will be handled by Ness' managed strategic services facility in Mumbai, India.
Globes correspondent 13 Sep 05 16:19
Information technology (IT) solutions and services provider Ness Technologies (Nasdaq: NSTC) today announced that it has been awarded an offshore contract by Hollywood Media Corp. (Nasdaq: HOLL). No value was disclosed.
Hollywood Media Corp. is a provider of news, information and ticketing covering the entertainment and media industries. Hollywood Media's data business includes CinemaSource, EventSource, ExhibitorAds and Baseline/StudioSystems. Hollywood Media's Broadway Ticketing business includes Broadway.com, 1-800-Broadway and Theatre Direct International. These services supply media outlets with specific information on entertainment events, such as movies, live theater and concerts, and sell tickets for Broadway shows. Hollywood Media's businesses also include an intellectual property business, as well as Hollywood.com and a minority interest in MovieTickets.com. In addition, Hollywood Media owns and operates the cable television network, Hollywood.com Television.
Under the terms of the multi-year contract, Ness Technologies will establish its team to perform information technology services for Hollywood Media at Ness' existing managed strategic services facility in Mumbai, India.
The Ness team will assist Hollywood Media Corp. with its software development requirements and initiatives. In addition, Ness will support the maintenance of Hollywood Media's IT platform, environment and applications, including providing back-end support for Hollywood Media’s various Internet properties.
Ness Managed Strategic Services has two offshore centers in India, in Mumbai and Bangalore. Ness' Mumbai Center specializes in applications development, maintenance and support (ADM/S) and serves IT and information systems (IS) organizations. Ness' Bangalore Center houses software R&D Labs for over 20 independent software vendors (ISVs).
Hollywood Media CEO Mitchell Rubenstein said, "Together we expect to improve Hollywood Media's information systems capabilities, including streamlining our IT operations and enhancing our technology to better serve our customers and accelerate our back-end processing. This is only the first step in our offshoring plans.”
Also today, Ness announced the appointment of Shashank Samant as president of Ness Managed Strategic Services. Shashank will be responsible for two of the company’s core groups, Life Sciences and Specialty Solutions Group (LSS), which provides custom application development and systems integration services to leading pharmaceutical and biotechnology companies; and Ness Managed Labs, which provides offshore development services to ISVs.
Published by Globes [online], Israel business news - www.globes.co.il - on Tuesday, September 13, 2005
Dubi
Ness Technologies Awarded Offshore Contract by Hollywood Media Corp.
Tuesday September 13, 6:07 am ET
HACKENSACK, New Jersey, September 13 /PRNewswire-FirstCall/ -- Ness Technologies Inc. (NASDAQ: NSTC - News), a global provider of information technology solutions and services, today announced that it has been awarded an offshore contract by Hollywood Media Corp. (NASDAQ: HOLL - News), a leading provider of news, information and ticketing covering the entertainment and media industries. Under the terms of the multi-year contract, Ness Technologies will establish its team to perform information technology services for Hollywood Media at Ness' existing Managed Strategic Services facility in Mumbai, India.
The Ness team will assist Hollywood Media Corp. with its software development requirements and initiatives. In addition, Ness will support the maintenance of Hollywood Media's information technology (IT) platform, environment and applications, including providing back-end support for Hollywood Media's various Internet properties.
Ness Managed Strategic Services has two offshore centers in India, in Mumbai and Bangalore. Ness' Mumbai Center specializes in applications development, maintenance and support (ADM/S) and serves information technology (IT) and information systems (IS) organizations. Ness' Bangalore Center houses software R&D Labs for over 20 Independent Software Vendors (ISVs).
"Our rapid growth has led us to retain an established company like Ness Technologies to help support and enhance our growth efforts while also allowing us to reduce some internal costs," said Mitchell Rubenstein, Hollywood Media's Chief Executive Officer. "Together we expect to improve Hollywood Media's information systems capabilities, including streamlining our IT operations and enhancing our technology to better serve our customers and accelerate our back-end processing. We anticipate a win-win scenario for both Hollywood Media and Ness Technologies, as well as our customers. This is only the first step in our offshoring plans."
"We understand that the entertainment and media industry demands continuous innovation while coping with cost constraints," said Shashank Samant, President of Ness Managed Strategic Services. "Ness' offshore proposition coupled with the innovation experience of Ness Managed Labs provides a strong combination, thus offering an effective edge to Hollywood Media in the IT/IS area. We are delighted that Hollywood Media has selected us to be their partner in achieving their innovation goals."
About Hollywood Media Corp.
Hollywood Media Corp. is a leading provider of news, information and ticketing covering the entertainment and media industries. On the strength of its history in developing comprehensive entertainment industry databases, as well as its major strategic partners and unique content, Hollywood Media has launched a network of media businesses. Hollywood Media's Data Business includes CinemaSource, EventSource, ExhibitorAds and Baseline/StudioSystems. Hollywood Media's Broadway Ticketing business includes Broadway.com, 1-800-Broadway and Theatre Direct International. These services supply media outlets with specific information on entertainment events, such as movies, live theater and concerts, and sell tickets for Broadway shows. Hollywood Media's businesses also include an intellectual property business, as well as Hollywood.com and a minority interest in MovieTickets.com. In addition, Hollywood Media owns and operates the cable television network, Hollywood.com Television.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,000 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
http://biz.yahoo.com/prnews/050913/uktu009.html?.v=27
Dubi
Shashank Samant Named President of Ness Managed Strategic Services
Tuesday September 13, 5:45 am ET
HACKENSACK, New Jersey, September 13 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT solutions and services has announced the appointment of Shashank Samant as President of Ness Managed Strategic Services effective August 9, 2005. The appointment reflects Ness Technologies' growth strategy.
In his new role, Shashank will be responsible for two of the company's core groups, The Life Sciences and Specialty Solutions Group (LSS) - which provides custom application development and systems integration services to leading pharmaceutical and biotechnology companies, and Ness Managed Labs - which provides offshore development services to Independent Software Vendors (ISVs).
Shashank Samant joined the company in 2000 and founded the Managed Labs Business unit which currently assists ISVs in the development of next generation products in India.
"Shashank's outstanding leadership skills and immense knowledge has helped Ness Technologies position itself in the league of world class offshore companies," said Raviv Zoller, President and CEO of Ness Technologies. "In his new role, Shashank will help the company expand its business opportunities in North America."
"I am honored with this extended scope of challenge and look forward to steering the talented and dedicated staff in each of the US groups," said Shashank Samant.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public and private-sector customers. With over 5,000 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com
http://biz.yahoo.com/prnews/050913/uktu006.html?.v=28
Dubi
Ness wins $10m. IDF contract
By AVI KRAWITZ
IT solutions provider Ness Technologies has won a $10 million IDF contract to develop and implement its next generation central command-and-control system, the company said Thursday.
Tel Aviv-based Ness said it will develop the system in cooperation with the IDF.
The system, which will provide a unified, integrated situation picture, will be employed by the IDF high command, including the various directorates, regional commands and branches.
"We see this as an important industry milestone in military projects," Aviv Zoller, president and CEO of Ness Technologies said. "This central and large-scale project of Israel Defense Forces is one of the most prestigious projects in this field."
Michael Zinderman, president of Telecom and Systems Group at Ness, added that the challenge of this project will be to create an updated and integrated situation picture for the IDF decision makers.
"The system is planned generically, so it will be suitable for a wide variety of additional national security purposes," Zinderman said.
Ness has operations in 15 countries across North America, Europe and Asia, but most of its business is in Israel.
In July, the company received the 2005 Israel Defense Prize for its development of a visual intelligence system used by the defense establishment in fighting terror.
The company had a successful initial public offering on the Nasdaq in October, raising $140 million.
The share remained unchanged at $8.90 in afternoon trading in New York.
http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1126145970601
Dubi
Ness Technologies Wins Contract Valued at Over $10 Million to Develop Israel Defense Forces' Next Generation Central Command and Control System
Thursday September 8, 9:26 am ET
HACKENSACK, New Jersey, September 8 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT solutions and services, today announced that it has won a contract valued at over $10 million to develop and implement Israel Defense Forces' (IDF) next generation central command and control system. Ness will develop the system in cooperation with the IDF.
The advanced command and control system will be employed by the IDF high command, including the various directorates, regional commands and branches. The unique system will provide a unified, integrated situation picture.
"This central and large-scale project of Israel Defense Forces is one of the most prestigious projects in this field," said Raviv Zoller, President and CEO of Ness Technologies. "Due to our extensive cumulative experience in command and control systems, in the military and civilian markets in Israel and worldwide, we see it as an important industry milestone in military projects. The professional challenge is to develop and implement a command and control super-system which will be central to the ongoing activity and decision making process of the IDF high command in the coming years."
"This contract win reflects Ness' ability to meet the operational and technological challenge of creating a unified and integrated central system, in cooperation with the IDF," said Michael Zinderman, President, Telecom & Systems Group, Ness Technologies. "The challenge of this project is the creation of an updated and integrated situation picture for the decision makers. The system is planned generically, so it will be suitable for a wide variety of additional national security purposes."
The IDF contract win follows many other command and control, intelligence and communications projects developed and implemented by Ness for military and homeland security clients in Israel and worldwide. The new contract further positions Ness as the leading provider, in Israel, of strategic command and control systems.
In July 2005, Ness Technologies received the 2005 Israel Defense Prize for developing a leading edge visual intelligence system. The prize was awarded by the President of Israel to a team from Ness Technologies, ELOP - a subsidiary of Elbit Systems, the Israel Air Force and the Israel Ministry of Defense. The system was developed over the past several years, and is currently being used by Israel's defense establishment. The visual intelligence system is extremely advanced, and possesses unique capabilities in fighting the war on terror. It is operated by the air force, and serves additional defense forces.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,000 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
http://biz.yahoo.com/prnews/050908/ukth018.html?.v=11
Dubi
More info FYI
Target $12-15. Bottoming after disappointing earnings guidance last quarter. MACD bottoming, stochastic oversold. Some comments from a recent Briefing.com analysis:
The co is expected to grow EPS next year by 30% to $0.91 for a very reasonable p/e of 11.4x. The co is profitable and is expected to post sales of $446 mln next year, up 19% yoy. Also, the stock trades at less than 1x 2005 sales. The co recently hired Ytzhak Edelman as CFO. He was the CFO at Cellcom, Israel's largest cellular operator. This could be seen as a sign of the co's desire to get the stock back on track. The balance sheet is in good shape with $109 mln in cash and a very reasonable LT debt-to-cap ratio of 11%. CIBC recently initiated the stock with an Outperform and $15 tgt, noting that the co is seeing strong demand for its India-based managed lab service, in which it sets up, staffs, and manages R&D departments for software vendors. The firm also notes that the co has entered Europe via M&A and is leveraging its relationships with alliance partners like SAP, MSFT, and BEAS to replicate its Israeli big fish status in several East European countries. Also, Piper Jaffray last month upgraded the stock to Outperform with a $14 tgt. The firm noted that mgmt suggested on its last earnings call that rev growth for the remainder of CY05 would likely be back-end-loaded.
NSTC is a global provider of IT services and business solutions such as outsourcing, system integration & devel., software & consulting & training.
Clearstation Chart
http://clearstation.etrade.com/cgi-bin/details?Symbol=nstc&Refer=http://clearstation.etrade.com/
Today's close above the 30 day EMA on strong volume
Increase in price and volume volume last few days
Date Open High Low Close Volume Adj Close*
25-Aug-05 8.57 8.78 8.56 8.71 397,000 8.71
24-Aug-05 8.41 8.51 8.35 8.51 256,300 8.51
23-Aug-05 8.44 8.44 8.32 8.39 43,900 8.39
22-Aug-05 8.35 8.45 8.30 8.38 79,400 8.38
Very good trends
Gap up today!
This stock is very much oversold IMHO. I do not understand the lack of following in this stock - low float as well.
Revenue
12/31/02 $166M
12/31/03 $226M
12/31/04 $305M
Expected by 12/31/05 $380M
And highly profitable
Take care
Base has been met - Price going UP
Time to take a position or average down. The company will be more conservative in guidance going forward and will over deliver in future quarters. Revenue growth and expenses in better control...
Looking forward to the next 6 mos - check the chart the upward movement has started
Take care
New star ranking.
http://biz.yahoo.com/a/r/n/nstc.html
Dubi
< the words of warning >
Actually more a word of caution, balance and proportion.
Dubi
Thank you, I appreciate the words of warning. My % investment fluctuates based on how I perceive the risk/reward at the moment, and right now, based on my observational experience with COR I feel it is an excellent time to purchase and expect a return to the mid $2's in the near term.
I look forward to that happening because then I'll sell some COR and reinvest in whichever "good" company(s) are down at the moment (e.g. NSTC today), and from all of the boards you maintain on iHub you've provided a lot of interesting companies to follow.
I do sincerely appreciate your warning and I do my best to stay very sensitive to any amount of risk creeping into COR, and I'll sell quickly (and have in the past) when I perceive any danger signals.
PARS is always on my mind, and an even more scary example was ELN which had an approved drug on the market which had blockbuster potential, and we know the sad story of what happened to Tysabri and the investors who bet heavily on ELN and thought they had a very safe investment.
Thanks again, and good luck to you as well... Aiming4.
<my farm is invested in Cortex >
Remember PARS syndrome ???
(enough said)
Dubi
(Nothing against COR, in fact i own some)
Thanks for your thoughts, my farm is invested in Cortex but I might sell a few pumpkins to pick up some NSTC.
I'm pretty partial to beaten down stocks that offer potentially high returns in a fairly small time frame, and so far I like EVSNF and SPCBF the most of your stocks that I follow to have that potential.
NSTC definitely entered the "beaten down" category today though.
I'll keep a close eye on NSTC, slow reacting investors might still be selling over the next couple of days to cut their losses and drive it down a little further and make it an even greater bargain.
Thanks again... Aiming4.
Basically a good company, NSTC was severly 'punished'
due to its lowering of guidance.
IMHO, too severely, therefore suggesting an interesting
entry point.
Not your farm though.
Dubi
Extremely high volume today, does anyone see this as a particularly attractive entry point?... Aiming4.
Market Pulse: Ness Technologies second-quarter net up, adjusts guidance
Wednesday August 10, 7:30 am ET
By Sarah Turner
LONDON (MarketWatch) -- Ness Technologies Inc said second-quarter net income rose to $4 million, or 11 cents a share, from $2.9 million, or 12 cents a share, a year ago, after the company expensed an $0.8 million stock compensation expense during the period. Revenue rose 28% to $94 million while the backlog at June 30 rose to $418 million, up 22%. For the third quarter Ness said it expects to generate revenues in the range of $95 million to $96 million and net earnings of between 17 cents to 18 cents a share. The company increased its 2005 revenue guidance to between $376 million to $381 million based on expected revenues of Ness Romania and lowered its 2005 earnings guidance to 63 cents to 66 cents a share to reflect unexpected financial expenses as well as the short-term impact of ramping significant new contracts.
http://biz.yahoo.com/cbsmb/050810/593c8e46d76e4f87afad9bf8453f3223.html?.v=1
Dubi
Ness Technologies Announces Record Revenues for Second Quarter 2005, Up 28% Year-Over-Year
Net Income Increased to $4 Million, Up 37% Year-Over-Year
8/10/2005 7:17:43 AM
HACKENSACK, New Jersey, August 10, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ness Technologies, Inc. (NSTC), a global provider of IT services and solutions, today announced financial results for the quarter ended June 30, 2005.
Second Quarter 2005 Highlights:
- Revenues reached a record $94 million, up 28% year-over-year.
- Net income increased to $4 million, up 37% year-over-year, after
expensing a $0.8 million (after tax) non-recurring non-cash stock
compensation expense.
- Backlog increased to $418 million, up 22% year-over year.
- Global workforce increased by 260 sequentially to 5,430.
- Ness Romania, formerly known as Radix Company SA, financial results
consolidated for the first time.
"The second quarter of 2005 was very eventful for Ness as we continued to execute on our strategic plan of expanding our global platform for delivering IT services and solutions," said Raviv Zoller, President and Chief Executive Officer of Ness Technologies. "We are making significant progress towards our financial goals while strategically investing in the continued growth of our business. During the second quarter we consolidated Ness Romania, formerly Radix SA for the first time, thus growing our Eastern European footprint."
Second quarter 2005 revenues reached $94.2 million, an increase of $20.3 million or 28% from $73.9 million in the second quarter of 2004.
Gross margin at 28% declined sequentially due to historical second quarter seasonality related to holidays, resulting in fewer billing days in Israel. Based on the location of the end customer, non-Israeli revenues in the second quarter 2005 were 49% of total revenues, up from 43% in the first quarter.
Second quarter 2005 operating and net income include non-cash stock based award compensation expense of $1.3 million related to redeemable option awards for which the Company is required by GAAP to recognize in this quarter based upon the likelihood that redemption rights will be exercised, based on the Company's stock price, which net of applicable income taxes had the effect of reducing net income by $0.8 million. The Company expects that no additional expenses will be recorded in conjunction with such redeemable options.
Second quarter 2005 operating income, totaled $4.9 million, representing an increase of $0.6 million or 13% compared to the $4.3 million reported in the second quarter of 2004.
Second quarter 2005 net income, totaled $4.0 million, representing an increase of $1.1 million or 37% compared to the $2.9 million reported in the second quarter of 2004.
Diluted net earnings per share for the second quarter 2005 were $0.11 compared to $0.12 in the second quarter 2004. Excluding the non-cash stock compensation expense, diluted net earnings per share for the second quarter 2005 were $0.14.
Backlog as of June 30, 2005 increased to $418 million, up 22% compared to $342 million as of June 30, 2004.
As of June 30, 2005, Ness' cash and cash equivalent position was $92 million, as compared to $44 million as of June 30, 2004 and $109 million as of March 31, 2005. The sequential decrease was a result of investments in acquisitions the Company made in Eastern Europe, and delays in payments caused by the late approval of the budget of the government of Israel.
"Ness had a very solid quarter of year-over-year financial performance, with record revenues and growing profitability. Our backlog remains strong and continues to provide a solid foundation for our future growth prospects. We have taken steps to further reduce our financial expenses and to maintain a lower level of foreign exchange exposure. Overall, our core business remains solid and we stand confident in our expectations that these efforts to improve financial efficiencies will achieve the desired results," said Ytzhak Edelman, Executive Vice President and Chief Financial Officer.
Guidance
For the third quarter 2005 Ness expects to generate revenues in the range of $95 million to $96 million and diluted net earnings per share of $0.17 to $0.18.
The Company is increasing its 2005 annual revenue guidance of $370 million to $375 million to the range of $376 million to $381 million based on expected revenues of Ness Romania. Full year 2005 diluted net earnings per share guidance has been revised from a range of $0.70 to $0.75 to a range of $0.63 to $0.66, reflecting the unexpected negative impact of financial expenses as well as, the short-term impact of ramping significant new contracts in the Company's fourth quarter 2005.
The aforementioned earnings per share guidance excludes impact of the non-cash expense related to redeemable options in accordance with the relevant GAAP guidelines.
Conference Call Details
Ness Technologies President and Chief Executive Officer Raviv Zoller and Executive Vice President and Chief Financial Officer Ytzhak Edelman will conduct a conference call to discuss the second quarter 2005 results, which will be simultaneously webcast at 9:00 A.M. Eastern Time/6:00 A.M. Pacific Time on Wednesday, August 10, 2005
To access the Ness Technologies second quarter 2005 earnings conference call, participants in North America should dial 1-800-399-0427 and international participants should dial 1-706-634-5453. A live webcast of the conference call will be available on the investor relations page of the Ness Technologies corporate web site at http://www.ness.com. Please visit the web site at least 15 minutes early to register for the teleconference webcast and download any necessary audio software. A replay of the call will be available on the web site approximately two hours after the conference call is completed.
About Ness Technologies
Ness Technologies (NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With approximately 5,500 employees, Ness maintains operations in 15 countries across North America, Europe and Asia Pacific, and more than 100 alliances and partnerships around the world. For more information about Ness, visit http://www.ness.com.
Dubi
Nice, very nice - as expected of them.
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Ness Technologies, Inc. and its subsidiaries provide information technology (IT) and end-to-end business solutions worldwide. Its portfolio of solutions and services include outsourcing, system integration and application development, software and consulting, and quality assurance and training. The company’s outsourcing services include offshore application development and maintenance; IT outsourcing services, both onsite and off-site; and managed labs for independent software vendors. Its system integration and application development services include enterprise resource planning and customer relationship management solutions; enterprise application integration solutions; command and control and real-time systems; geographic information systems; telecommunications systems; knowledge management; and business intelligence and data warehousing solutions. Ness Technologies also offers turnkey solutions, as well as a range of quality assurance, testing, user interface engineering, and training and assimilation services. The company provides these services to government and defense, financial services, life sciences and healthcare, telecommunications, and utilities industries. It has strategic alliances with BEA Systems, Documentum, EMC, IBM, Mercury Interactive, Microsoft, SAP, and Unisys. Ness Technologies was incorporated in 1999 and is based in Telaviv, Israel.
Ness Technologies Inc
Ness Tower
Atidim High-Tech Industrial Park
Tel-Aviv, 61580
Phone: 972 3 766 6800
Fax: 972 3 766 6809
Web Site: http://www.ness.com
Israel Economy:
http://www.investorshub.com/boards/board.asp?board_id=3606
This is the iHub Message Board about Ness Technologies, Inc (NasdaqNM: NSTC), where you can discuss the future prospects of the company and share information about it with others. This board is not connected in any way with the company, and any messages are solely the opinion and responsibility of the poster.
http://mktvideo.nasdaq.com/MarketSiteOpenCloseVideos/200811/mc_112108.wmv
Sachi Gerlitz, President and CEO of Ness Technologies, Inc., presides over the Closing Bell to celebrate the company's 4-year listing anniversary on The NASDAQ Stock Market.
About Ness Technologies, Inc. [NSTC]:
Ness Technologies (Nasdaq:NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. The Ness portfolio of solutions and services consists of software product development, including both offshore and near-shore outsourcing, system integration, application development and consulting, and software distribution. With over 8,300 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide.
For more information about Ness Technologies, visit www.ness.com.
Organizations interested in obtaining NASDAQ-listed company bell ringing ceremony photographs for press purposes, must first receive approval from the listed company before requesting photographs from NASDAQ. Please provide the company contact information from whom you received approval to Jolene Libretto at jolene.libretto@nasdaq.com. Kindly credit © 2008, The NASDAQ OMX Group, Inc. Reprinted with permission.
For all other photography inquiries, please contact NASDAQ’s photographer, Rob Tannenbaum at rob.tannenbaum@nasdaq.com.
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