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Post# of 173792
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2morrowsGains

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2morrowsGains

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Re: 2morrowsGains post# 7906

Wednesday, 03/30/2005 9:31:14 AM

Wednesday, March 30, 2005 9:31:14 AM

Post# of 173792
PLUS looks undervalued. Their book value should be over $15.5 (including Ariba's patent settlement money). Current share price is $11.33 w/ under 9M shares outstanding. They should have approx $5 per share in cash after settlement money. They announced an alliance relationship with Hitachi Consulting last week and today they announced that Pepsi has selected and has implemented ePlus' spend analysis services for their domestic operations.
ePlus' Share Buyback Program...
Four weeks ago, ePlus' BOD ok'ed up to $12.5M to buy back more ePlus stock!
They have until Nov 18 to do it. They have enough cash from the Ariba settlement to do it!
ePlus' initial share repurchase program started on September 20, 2001. As of December 31, 2004, the Company had repurchased 1,835,316 shares of its outstanding common stock. That's OVER 17% of total shares outstanding!!
And they're still buying back shares...
http://biz.yahoo.com/bw/050302/25061_1.html




The information posted by 2morrowsGains is opinion only and should not to be taken as investment advice.

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