Replies to post #7668 on The Golden Lounge

[Jim Bishop]

FORG got whacked but good today, watching for bounce.

Reuters Company News
Forgent posts profit on a one-time patent revenue

Wednesday September 18, 4:33 pm ET


AUSTIN, Texas, Sept 18 (Reuters) - Forgent Networks (NasdaqNM:FORG - News), a videoconferencing software and services company, on Wednesday swung to a quarterly profit, helped by a one-time gain from a patent revenue.

Forgent's revenue jumped to $21.6 million from $6.5 million a year earlier, from a one-time $16.2 million patent revenue from its still-image compression technology. Excluding the patent, Forgent's revenue would have been down about 16 percent from a year earlier.

News on weak sales sent the company's shares plummeted $1.71, or about 40 percent, to close at $2.60 on Nasdaq. Volume was 1.6 million, more than 10 times the stock's average volume.

In the fiscal fourth-quarter ended July 31, the Austin, Texas-based company earned $2.5 million, or 10 cents a share, reversing a loss of $7.9 million, or 32 cents a share, a year earlier. Excluding a loss from discontinued operations, Forgent earned $3.1 million or 12 cents a share, compared with a loss of $2.7 million, or 11 cents a share, in the year-ago period.

Looking forward, Forgent forecast software revenue will increase at 30 percent to 40 percent for all 4 quarters of 2003, while service revenue will be flat to declining.

[Jim Bishop]

ShellStockReview.com ALERT: MICG, IENP, ASIC

REVERSE MERGER: our profile list stock MICG (0.22 x 0.24) issued a press release announcing that it has completed the merger of Innovative Safety Technologies, LLC. IST is a Portland, Oregon company that identifies, develops, and markets safety and security oriented products and services. IST's initial product offering was the No Tug Plug(TM) Electrical Outlet Cover, an innovative safety product that keeps electrical cords in place and protects children and pets from electrical shock. IST has recently launched Internet Observation Systems, a new service that provides high resolution remote viewing via the internet and digital video recording capabilities. For more information, see http://www.notugplug.com.

WATCH LIST: our profile list stock IENP (0.035 x 0.055) filed a 10K stating "pending discussions:" Integrated is presently involved in preliminary negotiations with the owners of a company. While management of the Target Company has expressed a desire to move toward a business combination transaction through the execution of a definitive agreement, there is no assurance that the pending discussions will result in the successful conclusion of a business combination or that the common stock of the Issuer will ever have any value.

**SPECIAL ALERT** - CASH DISTRIBUTION: excluded from our profile list, ASIC (.24 x 0.29) filed an 8K stating it has sold its remaining hardware and software maintenance contracts for $262,656 and plans to sell its remaining assets, property and equipment and intellectual property, discharge its liabilities and distribute the net proceeds to stockholders. Per their 03/31/02 10Q SEC filing, they have 3,963,940 shares outstanding, $2,338,851 in cash, and $491,837 in total liabilities.

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