Value Microcaps Motherboard

[michael t]

hweb2 re: CKSW

I can add this to the growing list of stocks that I underestimated the upside potential.

If I remember correctly last q they reported the book to bill and not the backlog. This quarter they reported the backlog but not the book to bill, so it is a little difficult to determine the trend in the business.

Deferred revenues did decline sequentially from 8.3m to 6.4m, and I'm guessing that the book to bill may have been below 1.

Based on their guidance of exceeding the revenues for the 2nd half of 2008, they should be able to report at least 15m in revenues for the next two quarters. That should result in at least .40 in eps for 2009.

The stock definitely looks fairly valued above $7.