Big Developments are occurring within VRSO, the time to buy this stock is NOW.
The old CEO has stepped down to allow for a dynamic and experienced new Chief to take VRSO to the next level. The new CEO has vast experience running major communication companies, and can help VRSO reach its true potential.
Insiders keep buying more shares on the open market, and insiders have been granted options with strike prices from 0.50 to $3.00 + . This tells us they know that things are getting much better, and that the stock price will soon reflect the much improved environment within the company.
VRSO continues to make alliances including their most recent one with Blackberry and various other major companies opening up new markets sectors and providing for more products and better service for their growing customer base.
Revenue is Growing with each quarter - From 8-K July 25, 2005
“Total revenue for the second quarter of 2005 of $8.5 million represented a 29% increase over both the first quarter of 2005 and the second quarter of 2004, during each of which the company had sales of $6.6 million. The increase in sales over the prior periods was primarily due to sales of new technologies introduced recently, including the JTA I-Master application suite and the Netperformer GSM and Netperformer Universal Redundancy solutions, and due to the improved performance of the company’s reorganized salesforce.
Gross profit from continuing operations for the second quarter of 2005 was $3.8 million, or 44% of sales, compared to $2.9 million, or 43% of sales, for the first quarter of 2005 and $2.9 million, or 44% of sales, for the second quarter of 2004.”
“The recent introduction of new technologies had a significant impact on revenue this quarter and has laid the foundation for our recovery plan,” said Lewis Jaffe, Verso’s President and Chief Operating Officer. “Specifically, the acceptance of the I-Master suite has exceeded our expectations, as the market moves toward applications and open architecture. Also, as evidenced by our growing number of trials and the trials which are now turning into revenue, the introduction of our Netperformer GSM has positioned us to capture market share. With the revamping of the salesforce, we now have a sales team in place that is executing well. We are continuing our sales and product development focus on immediate opportunities, but keeping an eye out to ensure we continue to meet customer demand. We believe that these initiatives, along with improving economies in the markets in which we have a strong presence, will pave the way for continued growth.”
“We are pleased that the efforts we have undertaken over the last two quarters to introduce high growth technologies, restructure our sales force and redirect our marketing efforts are beginning to be reflected in our sales and operating results,” said Steve Odom, Verso’s Chairman and Chief Executive Officer. “We continue to focus our research and development efforts to introduce new products with high growth potential, such as our I-Master suite, Netperformer GSM and Netperformer Universal Redundancy, and the recent completion of the development of our softswitch solution for the North American market.”
Verso is a leading provider of next generation communication solutions for carriers and service providers that want to lower their communication infrastructure costs and enhance service capabilities without sacrificing reliability, scalability and quality of service. With an extensive solutions portfolio that extends from the core to the edge of a network, Verso enables customers to leverage legacy technology investments towards converged networks that are faster and more cost-effective to deploy and easier and more flexible to manage. Verso solutions are currently deployed in thousands of customer networks in over 120 countries. For more information, contact Verso at www.verso.com or call 678.589.3500.