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Top Image Systems Wins eFLOW(R) Digital Mailroom Project for Leading German Insurance Provider
TEL AVIV, Israel and COLOGNE, Germany, Feb 11, 2014 (GLOBE NEWSWIRE via COMTEX) -- Top Image Systems Ltd. TISA +0.82% a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider announced today that Top Image Systems has won a Digital Mailroom project at a leading German insurance firm. With 800 employees and 9 branches across Germany, this long-standing insurance firm has selected eFLOW(R) Digital Mailroom to automate and accelerate its business-critical document processing.
eFLOW will process some 800,000 insurance policies and related forms and documents per year, classifying them in more than 100 different categories. The company is particularly interested in leveraging eFLOW's web-based validation module, which will enable faster and easier software implementation and maintenance. In the next stage, the project may expand to include an e-portal for integrated email management.
The customer chose eFLOW Digital Mailroom following a successful workshop in which Top Image Systems demonstrated a high-quality proof of concept that met the customers' requirements. The company was looking for an effective system that would significantly reduce policy processing cycle time, costs and processing errors. At the same time, the company seeks to improve communications with business partners and responsiveness to customers.
"We are pleased to see further traction in the insurance sector for our popular eFLOW Digital Mailroom solution," remarked Egbert Fischer, Top Image Systems' General Manager Central Europe. "As document-centric businesses seek competitive advantages, they look for technologically innovative systems that can accelerate business processes and improve their responsiveness to their customers, and here is where Top Image Systems can best help them. We are confident that eFLOW Digital Mailroom will continue to grow its market share in Europe, both in the insurance industry as well as in other markets in which optimized document-centric business process automation is critical for operational excellence."
Top Image Systems, Ltd. Closes $15.0 Million Public Offering of Ordinary Shares Including Exercise in Full of Overallotment O...
Thursday 6 February 2014
Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA-L) a leading provider of enterprise content management software and mobile imaging technology, today announced the closing of an underwritten public offering of 3,162,500 ordinary shares at $4.75 per share for gross proceeds of $15.0 million. The aggregate amount of ordinary shares sold reflects the exercise in full by the underwriters of their option to purchase up to 412,500 additional ordinary shares to cover over-allotments.
Top Image Systems received net proceeds of approximately $13.7 million from the sale of ordinary shares, after deducting the underwriters' discounts and other estimated offering expenses. The net proceeds from the offering will be used for general corporate purposes, including potential acquisitions.
Canaccord Genuity Inc. acted as the sole book-running manager for the offering, and Roth Capital Partners and The Benchmark Company, LLC acted as co-managers.
The offering was made pursuant to an effective shelf registration statement on Form F-3 previously filed with the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus describing the terms of the offering were filed with the SEC. Any offer will be made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement. Before investing, you should read the prospectus supplement and the accompanying prospectus, and other documents that Top Image Systems has filed or will file with the SEC, for information about Top Image Systems and this offering.
Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by sending a request to the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, or by calling (617) 371-3900. The final prospectus supplement and accompanying prospectus also will be available on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Top Image Systems, Ltd. Prices $13.1 Million Public Offering of Ordinary Shares
Friday 31 January 2014
Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA-L), a leading provider of enterprise content management software and mobile imaging technology, priced an underwritten public offering of 2,750,000 ordinary shares at $4.75 per share for gross proceeds of $13.1 million. Top Image Systems has also granted the underwriters a 30-day option to purchase up to an additional 412,500 ordinary shares to cover over-allotments, if any. The offering is expected to close on February 5, 2014, subject to satisfaction of customary closing conditions.
Top Image Systems expects to receive net proceeds of approximately $11.9 million from the sale of ordinary shares, after deducting the underwriters' discounts and other estimated offering expenses. The company intends to use the net proceeds from the offering for general corporate purposes, including potential acquisitions.
Canaccord Genuity Inc. is acting as the sole book-running manager for the offering, and Roth Capital Partners and The Benchmark Company, LLC are acting as co-managers.
The offering is being made pursuant to effective shelf registration statements on Form F-3 previously filed with the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC. Any offer will be made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statements. Before investing, you should read the prospectus supplement and the accompanying prospectus, and other documents that Top Image Systems has filed or will file with the SEC, for information about Top Image Systems and this offering.
When available, copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by sending a request to the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, or by calling (617) 371-3900. The final prospectus supplement and accompanying prospectus also will be available on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Markman hearing in MITK v. TISA case 1/7/14 in Delaware. Could be pivital for TISA. If they win (look like they don't infringe given the court's claim constructions) then they will probably continue to grow. If they lose they could be extremely hampered. Might be careful here near term. JMO
TISA Izhak Nakar from Top Image Systems speaks with host Tobin Smith on why the company's data capture and management solutions are in a great strategic position to fill today's enterprise market needs.
http://www.equities.com/equities-tv?s=tisa#tabs-2
LOAD UP ON THIS BABY. TIMOTHY SYKES THE GURU HIMSELF AND ALL HIS SUBSCRIBERS ARE LOADING UP ON IT
Well looking back on it now that seems liked a very wise move Larry.
I knew you wouldn't let me down.
Good Job!!!!!!!!!
Aiming4-Oh, that blind squirrel.
Better late than never, Mnfats
Looks like I should have inquired a month ago. CTCH has made a nice move in the last 30 days, now close to 52 week high.
BTW: No picture of a blind squirrel? You're losing your touch. LOL
Thanks, Mnfats. Sometimes even a blind squirrel
(like me) gets it right
Looks like you made a good move, but this current price seems inviting.
I'll check in on CTCH.
Thanks
I am out of TISA since quite some time, and do not
follow it up too closely. I definitely prefer
CTCH #board-4188
Dubi-Are you still in this one? The share price is starting to look interesting. I see they're still losing money, but may be on the right track.
Any insights?
Top Image Systems and J&B Software Inc. Win Three New Government, Transportation and Media Projects in the USA
Monday September 24, 3:00 am ET
Average Deal Size for the TIS Components Exceeds $300K
TEL AVIV, Israel, Sept. 24, 2007 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (NasdaqCM:TISA - News) (TASE:TISA) (``TIS''), a leading innovator of intelligent document recognition, and J&B Software, Inc., a premier provider of enterprise-wide payment system solutions and integration services, announced today that together they recently won three (3) major projects in the USA.
TIS and J&B Software Inc. announced their strategic partnership in March 2007. In the short time since this arrangement was finalized, the two companies have succeeded in aligning their joint sales activity by winning three (3) major deals and responding to several additional opportunities that are expected to close in Q4/2007.
Under the partnership agreement, J&B Software Inc. has agreed to offer eFLOW, TIS's flagship document capture solution, to its large client base as well as any new client activity in the transaction processing and financial services industries.
The first three (3) clients resulting from the new partnership are in the government, transportation and media industry market segments. The average deal size for the TIS components exceeds $300K. In these projects, TIS and J&B utilize various technologies and products based on the eFLOW platform, including Freedom for efficient semi-structured document processing and Smart for robust document classification systems in addition to J&B's core processing technologies.
These implemented solutions include classifying and extracting data from government application forms; connecting to lockbox and processing account receivable documents; and processing invoices and remittance skirts with a list of invoices to balance against accounting systems and update payments.
``We are extremely pleased with the close cooperation and strong relationship between J&B and TIS and the fact that our efforts are already bearing fruit,'' said Dr. Ido Schechter, CEO of Top Image Systems. ``The combination of J&B's strong presence in the market, its vast experience in providing a powerful Transaction Management System (TMS) solution, and TIS's technological state-of-the-art input information solution provides our clients with the ultimate solution for complex and large data capture projects. Our joint clients will now enjoy a significant reduction in manual data entry associated with data extraction and the ability to combine full page data capture with financial applications. We continue to work closely with our partner J&B to increase our presence in the market which will provide for more joint opportunities in the future.''
``As evidenced by the rapid completion of these deals, the market obviously appreciates the strength of our combined solution and sees its potential for better managing information transactions and reducing related costs,'' said Robert Bartlett, President and COO of J&B Software Inc. ``The synergy of TIS's technology and J&B products and solutions has created a strong start to the success of our partnership. Proposals outstanding continue to increase and we fully expect to start several new projects by year end.''
About J&B Software, Inc.
J&B Software revolutionized the image based payment processing industry. Today J&B provides market leading automated payments, electronic transaction processing and management systems to over 165 industry leading organizations, including regional and money center banks, insurance companies and mutual funds, credit card and student loan processors, telecom, utilities, government, nonprofit and commercial organizations.
The company's reputation for excellence is built on a foundation of industry expertise coupled with an extensive library of core applications and product modules and a firm commitment to optimizing the use of open architecture software and hardware platforms. J&B's Hub and Spoke(tm) architecture consolidates management, core technology and business applications, that results in reduced complexity, better use of skills and a way to ``futureproof'' legacy and backend applications at lower overall costs. J&B Software's application suite includes solutions for remote image capture, ARC and check 21/image exchange, remote data entry, as well as core applications for wholesale and retail lockbox, full-page forms processing, transaction archive, and online customer query.
J&B Software is a privately held company with more than 25 years of experience. J&B and its 400 plus employees are committed to improving its customers' operational effectiveness and profitability. For more information, visit the company Web site at http://www.JBsoftware.com or call (215) 641-1500.
http://biz.yahoo.com/pz/070924/127209.html
Top Image Systems Wins 7 New Projects in Germany
Tuesday April 17, 2:00 am ET
EUR 1.5 Million Expected in 2007 Revenues From Seven New Projects
TEL AVIV, ISRAEL--(MARKET WIRE)--Apr 17, 2007 -- Top Image Systems Ltd. (NasdaqCM:TISA - News), the leading innovator of data capture solutions, announced today that seven new German customers have chosen the eFLOW platform to automate and improve the efficiency of their information input processes.
"2006 was an exceptional year for TIS in Germany, in operational as well as financial aspects, with the highest level of revenues generated in the history of the company, in Germany alone," commented Dr. Ido Schechter, CEO of Top Image Systems. "Towards the end of the year, our team succeeded in securing several exciting deals that involved our invoice processing solutions, including the tight integration with SAP systems, and our advanced solution for digital mailroom. Our solutions were purchased by large, satisfied, existing customers as well as many new customers."
The experience accumulated through a great number of projects across the world, and especially in Germany, has allowed TIS to upgrade and fine-tune its solution for accounts payable and receivable as well as for automated mailroom. As a result, TIS has a unique state-of-the-art automatic processing solution for invoices and purchase orders that demonstrates tight integration with SAP and includes a complete approval workflow. This solution can be deployed and integrated in any enterprise accounting environment.
Among the new customers that acquired TIS solutions for invoice and purchase orders processing are companies such as:
SITA Deutschland GmbH, one of the leading private waste management enterprises in Germany and a subsidiary of the French energy-, water-, and waste-management Enterprise SUEZ.
WAZ Media Group, one of the most significant European media groups. With printing plants in 17 locations across Europe, WAZ publicises 38 newspapers, 108 trade publications, 133 advertising journals, and about 250 customer magazines. Their flagship product is the Westdeutsche Allgemeine Zeitung, the leading regional newspaper in Germany.
The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds, and the secondary life insurance market, as well as asset creation plans.
SCHOTT, a technology-driven international group that manufactures and supplies household appliance industry, pharmaceutical packaging, optics and opto-electronics, information technology, consumer electronics, lighting, automotive engineering, and solar energy.
EnBW Energie Baden-Württemberg AG, the third largest energy company in Germany. EnBW focuses on the electricity and gas segments as well as energy and environmental services.
Gruenenthal, a global leading research, development, and production pharmaceutical company.
And The LAPP Group is an international manufacturer and market leader of branded articles in the area of cable technology.
"TIS took a strategic decision to strengthen its presence in Germany, the cradle of the data capture technology, and to focus on flexible, standard solutions for automated mailrooms as well as invoice and purchase orders processing, often in SAP-based environment. Our eFLOW is a robust platform that includes all of these solutions, thus flexibility and modularity are easily achieved," said Gideon Shmuel, VP Sales and Marketing of Top Image Systems. "To extend the Company's focus on the German market, at the beginning of 2007, we opened an office in Munich. Through the year, we plan to further strengthen our German team. We greatly appreciate this market and intend to continuously develop and improve our solutions for the local market, especially those for the healthcare and insurance segments."
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper, or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators, value added resellers, as well as strategic partners. Visit the company's website www.TopImageSystems.com for more information.
http://biz.yahoo.com/iw/070417/0239201.html
TISA TIS to Acquire Capture Project Ltd., a Leading Provider of Document Capture and Knowledge Management Solutions in the UK
Transaction Positions TIS as UK Market Leader; Strengthens Position in European Input Management Market
TEL AVIV, ISRAEL -- (MARKET WIRE) -- April 11, 2007 -- Top Image Systems Ltd. (NASDAQ: TISA) (TELAVIV: TISA), the leading innovator of data capture solutions, announced today that it has signed a definitive agreement to acquire all of Capture Projects Ltd. ("CPL") shares, a leading provider of document management solutions in the UK, for a consideration of £1.8 Million, and potential performance-based consideration.
CPL is a long established independent consultancy, specializing in the provision of data capture solutions to the UK marketplace. With 2006 revenues of approximately £2.5 Millions (based on UK accounting standards), CPL is a market leader in the provision of electronic mailroom solutions. It has a customer base which includes many leading UK financial services and insurance companies. In the past, CPL has been named Kofax European reseller of the year, Sunday Times Microsoft Techtrack 100 (2005 and 2006) and Deloitte Fast 50 company.
The acquisition will significantly increase TIS' presence in the UK as well as in the European market in general, doubling the size of its operation in the market. This acquisition will also provide TIS with exposure to new markets currently not serviced by either business while extending its offerings to both new and existing customers.
TIS will leverage CPL's skilled and experienced workforce to further enable the strategic transition from a product developer into a total global solutions provider.
In order to ensure the smooth transition of the high-level service provided by CPL to its current customers, CPL will continue working as an independent unit under TIS throughout 2007. It will then be gradually integrated into TIS operations in the UK.
CPL's managing director and founder, Mr. Roger Stocker, will join TIS' management team. Mr. Stocker is a seasoned, experienced professional with thorough technical expertise. He commented on the signing of the agreement: "This is a strategic move that makes perfect sense for all our stakeholders, clients and employees alike. Together we will be in a stronger position to provide a unique value proposition to meet our clients' requirements and improve our stature in our marketplace."
Highlighted Links
Top Image Systems LTD.
information for investors
"The acquisition of CPL is an important move for us, perfectly in line with our strategy to become a leader in the European market," commented Dr. Ido Schechter, CEO of TIS. "It is a fantastic expansion opportunity for our business and offers substantial opportunities for the UK marketplace. The new in-house expertise will complement our solutions and further enable us to provide our customers with the highest level of professional services, in addition to our state-of-the-art technology. This acquisition gives us a strong competitive advantage, a unique market position, and true added value to our customers, partners and shareholders."
Dr. Schechter continued: "The combined Company will be backed by a very capable and experienced management team which will really drive the business forward. We have well-developed plans to deliver profitable organic and acquisition growth.
"TIS' acquisition makes a significant difference to the business and the ability to grow revenue and profit, both in terms of new markets that immediately become available and our increased strength in servicing these markets through our own technology."
About Capture Projects Ltd
Capture Projects (CPL) is recognized as a leading independent consultancy, offering Business Outcome Improvement solutions and services through Information and Document Management. Based near Leeds with offices in Bristol, CPL provides independent advice to organisations seeking to create, evaluate or alter their document information management systems to improve business outcome processes. In addition their independent advice allows them the freedom to select and implement the most appropriate technology available in the market today. Notable developments from CPL recently include an NHS Compliance Management Framework that enables healthcare service providers to meet the ongoing demand of compliance reporting and SharePoint Index Accelerator, an enhanced search functionality tool that helps users get greater benefit from Microsoft SharePoint and LiberateDM, an affordable, attainable document management solution based on Microsoft SharePoint. In addition, the CPL is a Top 100 Sunday Times Microsoft Tech Track and Deloitte Technology Fast 50 company. www.captureprojects.com
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators, value added resellers as well as strategic partners. Visit the company's website www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), the Company's ability to successfully integrate TIS Japan, litigation (including litigation over intellectual property rights), general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Top Image Systems Ltd.:
Sari Fadlun
Investor Relations
+972 544 330104
Email Contact
CPL:
Kevin Baxter
Sales & Marketing Director
T: +44 1937 547271
M: +44 7709 330298
Email Contact
Roger Stocker
Managing Director
T: +44 8707 515215
M: +44 7803 36152
SOURCE: Top Image Systems Ltd.
Top Image Systems Reports Record Fourth Quarter and Full Year 2006 Results
Wednesday February 14, 2:30 am ET
Company Crosses $20 million Revenue Mark Surpassing $1 million in Non GAAP Net Profit
TEL AVIV, Israel, Feb. 14, 2007 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (NasdaqCM:TISA - News) (TASE:TISA) (``TIS''), the leading innovator of data capture solutions, today announced its financial results for the fourth quarter and full year 2006.
Fourth Quarter and Full Year 2006 Highlights
* Record quarterly revenue with growth of 17% over last year
* Annual revenues up 20% crossing $20 million mark
* Seventh sequential profitable quarter, and record annual
Non GAAP net income of $1 million
* Over 100 new deals signed during the year with 70 new customers
* Strong geographic expansion in APAC, USA, Japan, Germany and the UK
Fourth Quarter Results
Revenues for the fourth quarter of 2006 increased 17% reaching $5.5 million, compared to $4.7 million in the fourth quarter of 2005, and up 5% from $5.3 million as recorded in the prior quarter. 37% of fourth quarter revenues were generated from services and 63% from products.
Non GAAP net income for the fourth quarter increased 45% totaling $284 thousand, compared to $196 thousand in the fourth quarter of 2005. Non GAAP basic net earnings per share in the fourth quarter totaled $0.032 compared with $0.022 in the fourth quarter of 2005. Non GAAP fully diluted net earnings per share in the fourth quarter totaled $0.031 compared with $0.022 in the fourth quarter of 2005. Non GAAP net income excludes stock option compensation expenses of $124 thousand and $44 thousand in the fourth quarter of 2006 and fourth quarter of 2005, respectively. A reconciliation between net income on a GAAP basis and Non GAAP net income is included after the Non GAAP Statement of Operations contained in this press release.
GAAP net income for the fourth quarter increased 5% totaling $160 thousand, compared to $152 thousand in the fourth quarter of 2005. Basic net earnings per share in the fourth quarter of 2006 totaled $0.018 compared with $0.017 in the fourth quarter of 2005. Fully diluted net earnings per share in the fourth quarter of 2006 and in the fourth quarter of 2005 totaled $0.017.
Full Year 2006 Results
Revenues for the year ended December 31, 2006 increased 20% reaching $20.2 million, from $16.8 million in 2005. Operating profit for the year totaled $521 thousand compared with an operating loss of $285 thousand in 2005.
Non GAAP net income for the year totaled $1,044 thousand, compared with a net loss of $417 thousand for 2005. Basic net earnings (loss) per share in 2006 totaled $0.118 compared with a net loss per share of $0.047 in 2005. Fully diluted net earnings per share in 2006 totaled $0.116 compared with a net loss per share of $0.047 in 2005 Non GAAP net income excludes stock option compensation expenses of $243 thousand and $44 thousand in years 2006 and 2005, respectively. A reconciliation between net income on a GAAP basis and Non GAAP net income is included after the Non GAAP Statement of Operations contained in this press release.
GAAP net income for the year totaled $801 thousand, compared with a net loss of $461 thousand for 2005. Basic net earnings per share in 2006 totaled $0.091 compared with a net loss per share of $0.053 in 2005. Fully diluted net earnings per share in 2006 totaled $0.089 compared with a net loss per share of $0.053 in 2005.
``We are delighted to close a strong year of growth, presenting record annual revenues and crossing the $20 million mark in revenues and the $1 million mark in net income on a Non GAAP basis,'' commented Dr. Ido Schechter, Chief Executive Officer of Top Image Systems. ``2006 was indeed an exceptional year for TIS. Our increased revenues, which followed strong contract wins, new customers and our greatly increased geographic footprint, contributed to our net profit and enhanced company value.''
Dr. Schechter continued: ``Over the last three years, TIS has grown and transformed from a product developer into a total global solutions provider, while laying the solid infrastructure that will allow us to continue to grow, enhance and develop the company in years to come. At the 2006 International Conference held in Berlin towards the end of last year we received strong support and recognition from our customers and partners as to the metamorphosis the company has undergone. This conference further confirmed that TIS has become a strong leading company with a solid customer base and highly advanced technology.''
``2006 was very much a year in which we laid the foundations for the future. In 2007, we are planning to bring the business to the next stage. We are actively pursuing complimentary and synergistic growth drivers for our business, which will increase the size and scale of our business, while bringing us increased activity in both the European and the Far Eastern market place. TIS now has a solid balance sheet and, most importantly, a dedicated group of employees focused and eager to contribute, develop and take the company to the next level,'' concluded Dr. Ido Schechter.
Guidance
The Company also issued preliminary guidance for 2007. Guidance is current as of today only and TIS undertakes no obligation to update its estimates. The Company expects to generate organic revenue growth of approximately 15% over the course of the year. At the same time, the Company is pursuing M&A opportunities which, if they materialize, will bring its revenues to the $30 million mark in 2007.
http://biz.yahoo.com/pz/070214/113709.html
( TISA ) - Office Depot Selects TIS's eFLOW as Incoming Orders Processing Solution
First System Was Successfully Installed in Germany and Will Be Rolled Out Across Europe
Top Image Systems Ltd. (NASDAQ: TISA), the leading innovator of data capture solutions, announced today that Office Depot, the leading global provider of office products and services, has chosen eFLOW to streamline its incoming fax orders.
Office Depot provides more office products and services to more customers in more countries than any other company. Office Depot sells products and services via the Mail-order Division, the Contract Division and the Retail Division with over 1,200 Office Depot stores in 22 countries worldwide. Office Depot is the world's number two online retailer and operates 56 Web sites in 14 countries worldwide.
As the first part of a much wider initiative to deliver productivity improvement while saving costs, Office Depot decided to replace the manual processing with an automated data entry process of the incoming fax orders.
At this initial stage, more than 5.000 handwritten orders arrive every day by fax to Office Depot's European Customer Care center in Venlo, The Netherlands, from many different locations. Those orders are automatically captured, verified and processed with eFLOW. Shortly after implementing eFLOW, a reduction of 60% in resources was achieved.
The system is to be rolled out to other European countries and handle orders in different languages. eFLOW system will then manage the distribution of all documents to the appropriate agents with the right language skills. At the third stage, additional document types and regions will be added to the process.
"At Office Depot we believe in constantly improving our performances and services, pushing ourselves to greater heights and never settle for less than being the best. Automating our incoming order process perfectly fits these values as it allows us to provide customers with better and quicker services while reducing our costs," said Alexander Jaross, Director Customer Service Germany, Austria & Switzerland. "We believe that eFLOW, with its superior recognition technologies, friendly interface and swift implementation, will allow us to enhance our proactive management of the processing environment."
"We are proud to respond successfully to the challenge Office Depot offered us, and look forward to working together in the implementation of the solution in additional Office Depot offices," said Gideon Shmuel, VP Sales and Marketing at TIS. "eFLOW will allow Office Depot to enhance its proactive management of the PO processing environment. It will drastically lower processing cycle time and costs and will provide an up-front visibility to the valuable information contained in each PO."
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators, value added resellers as well as strategic partners. Visit the company's website www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), the Company's ability to successfully integrate TIS Japan, litigation (including litigation over intellectual property rights), general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Market Wire (January 16, 2007 - 1:30 AM EST)
News by QuoteMedia
www.quotemedia.com
( TISA ) was UP Pre/Mkt here ... ... !!!
TISA Top Image Systems Issues $14 Million in Convertible Debentures
TIS Will Close $14 Million of Convertible Debentures to Israeli Investors
TEL AVIV, ISRAEL -- (MARKET WIRE) -- December 20, 2006 -- Top Image Systems, Ltd. (NASDAQ: TISA) (TELAVIV: TISA), a leading innovator of intelligent document recognition, announced today it has published a prospectus for an offering of approximately $14 million by way of convertible debentures on the Tel Aviv Stock Exchange. The debenture terms include an offering of 112,500 units of 528 New Israeli Shekel par value each. The convertible debentures will be linked to the US Dollar rate and carry an annual interest rate in the range of Libor +0.5% to Libor -0.5%, which will be determined in the final public closing. The debentures will be repaid in 4 annual installments starting from the year 2009.
The debentures may be converted into ordinary shares of Top Image Systems in a ratio of 20.3 New Israeli Shekel each. Top Image Systems also has the right to force conversion when and if its share fair market value shall reach 25.5 New Israeli Shekels. However, this will not be before October 2009.
Dr. Ido Schechter, Chief Executive Officer of Top Image Systems, commented: "At the beginning of December, TIS dual-listed its shares for trading on the Tel Aviv Stock Exchange. It was a natural step for the company. The Israeli market fits TIS's size and nature, and our listing has provided an opportunity for increasing Israeli investor interest in the share. We believe this step has provided us with opportunity to increase liquidity and will improve the share's value for investors both in Tel Aviv Stock Exchange and in NASDAQ."
Dr. Schechter continued: "The proceeds from this offering will enable our Company to continue implementing our strategic plan and accelerate TIS's growth in order to achieve our goal of $30 million in annual revenues in 2007. We shall dedicate a large portion of this funding to strengthening the Company's leading position through attractive and synergistic acquisitions, both in the Far East and Europe. We look forward to a successful relationship with our new investors."
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS' eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators and value-added resellers, as well as strategic partners. For more information on TIS, visit the company's web site at: www.TopImageSystems.com.
Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), the Company's ability to successfully integrate TIS Japan, litigation (including litigation over intellectual property rights), general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Adi Bar-Lev
Investor and Public Relations Manager
Top Image Systems, Ltd.
+972 3 7679114
Email Contact
SOURCE: Top Image Systems, Ltd.
Tue: Don't crow too soon
Top Image Systems is a small-cap share I like, but CEO Ido Schechter still has a lot to prove.
Shlomo Greenberg
It seems that the more obscure the future of the market becomes, the more attempts there are to repeat the Pointer Telocation Systems Ltd. (Nasdaq:PNTR) story. After starting the session on November 10 at $5.2, Pointer reached $23.2 by November 27 (after climbing to $25 a day earlier), a handsome gain that came as a surprise even, so he claimed, to the company chairman Yossi Ben Shalom.
During the eight trading days from November 10 through 21, when the stock started to climb, 13,900 Pointer shares changed hands on Nasdaq, a rate of 1,740 shares a day. From November 22 up to the end of last week, more than 10 million shares changed hands in seven trading days, meaning a rate of 1.5 million shares a day, around 90 times the previous rate. Is there any logic to this? I can understand those people who bought the stock when it was at $5 but why people also bought it when it was priced at $23 or $25 on the basis of the same facts that everyone knew about when it was still at $5 is beyond me.
It may well be that Pointer’s announcement of its listing on the Tel Aviv Stock Exchange (TASE) contributed to all this. It has nothing to do with economic values, but a dual listing always goes down well. The reports about Pointer on the Bellwether and Thesubway.com news sites (the latter belongs to The Wall Street Journal and reports on small companies), could also have triggered additional waves of buyers, but as the old timers used to say, “When ignorance drives a stock, keep well away.” Either way, the rush for stocks will soon begin, once a way has been found (and it always is) to make it routine.
What does this mean? If one stock can be catapulted 500% and higher within 15 trading days, why can’t the same thing apply to others too? Of course it can, you only to have find a way. This was tried last week with Top Image Systems Ltd. (Nasdaq: TISA; TASE:TISA), one of the small-cap stocks I like more, because of the tremendous potential of the niche that it operates in. Top Image published its third quarter report at the beginning of November, and once again it posted good results that show the company’s continuing positive development. Last week, Top Image announced that it would be listed on the TASE. This amounted to much bigger news than its third quarter results, and the stock soared in response.
I cannot understand at all why such gains are triggered every time an Israeli company listed overseas announces that it will be also listed on the TASE. Are there that many investors who believe that Tel Aviv has the ability to lift shares? Note that on the day it announced its dual listing, Top Image’s volume increased almost 30 times to nearly one million shares, compared with 57,000 only on the day it unveiled its third quarter results. Does this mean that investors believe that a listing on the TASE will give the stock the extra magic that other investors felt it lacked? Last Thursday, the company announced that it would be holding a conference for customers in Berlin, its third so far, and the number of participants has increased with every conference. Is this not more important than a mere listing on the TASE? Of course it is.
In the interviews he gave yesterday, Top Image CEO Ido Schechter was quite rightly full of excitement about the customer conference in Berlin. But I have one word of advice to him. Don’t crow too soon. Having annual sales of $100 million is a worthy goal, but it is a really tough challenge for a company whose sales currently stand at $20 million. I most certainly believe that with a bit of luck and its current management team, Top Image will reach a lot more than $100 million, but it would do well to learn from the likes of NICE Systems chairman Haim Shani or (outgoing) Teva Pharmaceutical Industries CEO Israel Makov - get there first, and make your promises afterwards.
Published by Globes [online], Israel business news - www.globes.co.il - on December 5, 2006
“We aim to lead our market”
Top Image Systems will raise $10m in Tel Aviv this week.
Shiri Habib 4 Dec 06 16:01
“We’ve just come back from a conference in Berlin, where we saw 200 of our customers. We looked like a $100 million company and we aim to actually become one,” said Top Image Systems Ltd. (Nasdaq: TISA; TASE:TISA) CEO Ido Schechter yesterday at a conference held at the Tel Aviv Stock Exchange (TASE) to mark the company’s dual listing. The first stage towards realizing this goal will come in 2007, when Top Image expects to record $30 million revenue, compared with $20 million in 2006. “We will reach $24 million revenue through organic growth, with a further $6 million from an acquisition that we plan to make,” said Schechter.
To finance the acquisition, Top Image will raise $10 million this Thursday in a bond issue on the TASE. The underwriters for the issue will be Tamir Fishman Asset Management Ltd. and IBI Investment House Ltd. (TASE:IBI). “The issue will support our merger and acquisition plan, and will also increase our liquidity,” said Schechter. Top Image had $9.9 million in cash at the end of the third quarter. Schechter would not disclose any details on the expected acquisition but stressed that the company to be acquired would be a profitable one. “We know how to lose money on our own,” he said jokingly.
Top Image was founded in 1991 by Itzhak Nakar, who currently serves as chairman. The company specializes in enterprise software solutions for managing and validating content entering organizations from various sources. Its customers include FedEx Corporation, Alcoa and Deutsche Bank. Top Image currently employs 110 people, 40 of them in Israel. “We are an Israeli company. Our home and roots are here,” said Schechter. “We are the classic candidate for dual listing - fairly small for Nasdaq, but an excellent size for the Israeli market.” Top Image currently has a market cap of $33 million, and it posted a net profit of $641,000 in January-September.
“We may not be in a sexy market such as telecommunications, but our market is big and it is expanding,” said Schechter. “It is now worth an estimated $1 billion, and it is growing at an annual rate of 15-18%.” He notes that a year ago, US storage giant EMC Corp. (NYSE: EMC) acquired Top Image’s rival Captiva, and the market has been left without a leader ever since.
Two other companies, Kofax (a division of DICOM Group plc (LSE: DCM.L), and Readsoft AB, operate in a similar field to that of Top Image and have annual sales of $40-45 million, double that of Top Image. Schechter insisted, however, that the company’s goal is to become the market leader. “The market is desperate for a leader, so we want to be aggressive over the next two years, and make two or three acquisitions. We aim to take the lead in the Far East, and perhaps merge, later on, with another company and enter the US market too. It won’t happen tomorrow but we have patience.” He added that most of the market was now concentrated in the US, although Top Image does not have substantial activity there. It does, however, lead the market in Japan, where its activity accounts for 20% of its revenue.
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2006
Top Image Systems to Dual-List on The Tel Aviv Stock Exchange
via COMTEX
November 29, 2006
TEL AVIV, ISRAEL, Nov 29, 2006 (MARKET WIRE via COMTEX News Network) --
Top Image Systems Ltd. (NASDAQ: TISA) (the "Company") today announced that it has received approval to dual-list its ordinary shares for trading on the Tel Aviv Stock Exchange. The Company's shares are scheduled to begin trading on the Tel Aviv Stock Exchange on December 3, 2006 and will continue to be listed concurrently on the Nasdaq Capital Market.
Copies of the Company's registration document are available to the public at the Company's offices at 2 Habarzel Street, Ramat Hachayal, Tel Aviv, Israel, during normal business hours, at the library of the Tel Aviv Stock Exchange and on the website of the Israel Securities Authority at: www.magna.isa.gov.il.
TISA woke up.
finally.
TISA now 40X average volume:
http://www.investorshub.com/boards/read_msg_ig.asp?message_id=15078288
Top Image to be dual-listed
The company apparently wants to list on the TASE in order to raise capital through an issue of convertible bonds.
Shiri Habib 23 Nov 06 17:04
Top Image Systems Ltd. (Nasdaq: TISA) plans to dual list on the Tel Aviv Stock Exchange (TASE). The company develops digital information recognition systems and technologies and automated document identification and processing solutions from different sources.
Top Image’s share has risen 21% since January, to give it a market cap of $31 million, making it eligible for dual listing. The company apparently wants to list on the TASE in order to raise capital through an issue of convertible bonds immediately afterwards.
Top Image declined to comment on the report.
Published by Globes [online], Israel business news - www.globes.co.il - on November 23, 2006
Hi Larry,
No posts of yours recently, what's up, no transactions ?
Regards,
Dubi
Covered 1/5 ( ACOR ) $14.94 from $15.42 >
+ $171.83 Intraday
11/07/2006 12:45:13 Sold Short 400 ACOR @ 15.42 6,157.82 ---
11/07/2006 15:16:06 Bought to Cover 400 ACOR @ 14.94 -5,985.99
Covered 1/5 ( ACOR ) $15.71 from $16.69 >
+ $763.61
10/20/2006 11:45:09 Sold Short 800 ACOR @ 16.69 13,341.60 ---
11/07/2006 11:09:17 Bought to Cover 800 ACOR @ 15.71 -12,577.99
To The Board >
to avoid any Margin-Call, I elliminated 3-positions ( ALVR ) ( AFFX ) ( BCSI ) totaling close to $900 bucks ..... snif ...
Out 1/2 ( NBIX ) $8.00 from $7.67 >
+ $244.14 @ E'Trade ( left twice as much on the table )
11/07/06 Sold -800 of NBIX @ $8.00 6,390.13
11/03/06 Bought 800 of NBIX @ $7.67 (Order #798) -6,145.99
OT re- SLJB - Can't PM but you are right on . This one is one for the books.
it is funny. but still posting elsewhere.
Pre/Mkt - Out 1/5 ( PLAY ) $12.00 from $11.02 >
+ $223.69 @ E'Trade
11/01/06 Sold -250 of PLAY @ $12.00 2,988.66
10/17/06 Bought 250 of PLAY @ $11.02 (Order #772) -2,764.97
Pre/Mkt, Out 1/5 ( PLAY ) $12.00 from $11.04 >
+ $219.92 @ Ameritrade
10/17/2006 13:57:34 Bought 250 PLAY @ 11.04 -2,769.99 ---
11/01/2006 08:21:47 Sold 50 PLAY @ 12 599.98 ---
11/01/2006 08:21:47 Sold 200 PLAY @ 12 2,389.93
one week until earnings.
TISA long-term rising wedge breakout signals upside.
All Out ( YHOO ) $25.47 from $24.20 & $25.44 >
+ $131.60
09/19/2006 15:19:37 Bought 100 YHOO @ 25.44 -2,553.99 ---
10/16/2006 15:43:00 Bought 125 YHOO @ 24.2 -3,034.99 ---
10/27/2006 10:41:46 Sold 225 YHOO @ 25.47 5,720.58
All Out ( RNVS ) $3.77 from $3.58 >
+ $53.97 @ E'Trade
10/26/06 Sold -400 of RNVS @ $3.77 1,497.96
10/26/06 Bought 400 of RNVS @ $3.58 -1,443.99
All Out ( RNVS ) $3.78 from $3.27 >
+ $183.97 @ Ameritrade
10/26/2006 08:37:47 Bought 400 RNVS @ 3.27 -1,317.99 ---
10/26/2006 10:31:04 Sold 400 RNVS @ 3.78 1,501.96
All Out ( TOL ) $30.61 from %29.54 >
+ $139.62 @ E'Trade
10/26/06 Sold -150 of TOL @ $30.61 4,580.61
10/13/06 Bought 150 of TOL @ $29.54 (Order #764) -4,440.99
All Out ( RDYN ) $5.29 from $4.50 >
+ $254.71 Intraday
10/23/06 Sold -350 of RDYN @ $5.29 1,841.45
10/23/06 Bought 350 of RDYN @ $4.50 -1,586.74
Out 1/2 ( EVVV ) $18.3736 from $17.69 >
+ $116.62
10/16/2006 15:38:55 Bought 200 EVVV @ 17.69 -3,547.99 ---
10/17/2006 14:46:30 Sold 200 EVVV @ 18.3736 3,664.61
One day, when J.Cramer discovers the company,
it might boost pps closer to where it belongs.
Dubi
Oh I'm doing well on it. Bought first postion at 1.41.
Just been in a state of suspended animation for the past couple of years.
But, I think breakout time is finally here.
Products are gaining traction in Europe.
How long is "FOREVER" ?
If you bought in at Dec 2001,
you would be doing 6-7 fold
on your money
Dubi
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