Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

[CELL]Interesting potential for a longer term hold. >> BRIGHTPOINT UPPED TO 'BUY' AT DEUTSCHE BANK<< Company does about $1.4 bil in revenues. Earnings out last night. 10% sequential increase in revenues. Share price was driven down a floorless convertible but that has been mostly resolved now. A small 1% net profit could bring $1.75 to the bottom line as that after a reverse split there are only 8 million shares outstanding. Of course there are some issues to deal with to get to just that 1% but they seem to making great strides in getting there. Debt has been worked down as the debt to equity ration is now near .35.
Book value is $13.35 a share and the stock currently sells for $2.50. Currently has $3.47 a share in cash. Sure they are in the cell phone business but cell phones are a mainstay in our lives and look to remain so for a number of years. As the market matures, a distribution network will be more in demand to control inventories. CELL is one of the largest distributors.
A break out would be just above $2.80 or so.
Just an idea. I have a long position for longer term speculation.

Joe