Does anyone have any views on this share. I t was a play of the week in Shares mag on Thursday. They are into software, like Panda anti virus etc and according to shares are adding 12000 new customers a month. They are making profits and plan a dividend in 2006. The current price is around 7.5p and looks an interesting play.

Any thoughts?

kked,

I agree with you about the pop up panda.

I found that I had to reinstall the program every week as the automatic update would not function and downloading manually from pandasoftware.es was very slow.

Apart from those two problems, and the fact that their representatives here could not resolve the problem and a bug got in, it seems very good but I feel safer with Norton.

It is very red again at present?
The nms are surprisingly 25k buy 100k sell.

Subsequently now changed to 10k sell.

Placing 6,000,000 shares at 6.75p

http://www.uk-wire.com/cgi-bin/articles/200506281243231518O.html?

Thats still only another 420k so nothing to really worry about.

Compared to the other Anti-Virus / Firewall software out there... unless Panda beef's up marketing they are only going to snap up the oldies who don't know too much and think the Panda is 'cute' . Performance and security wise their software is inferior to other leaders in this field.

I did use Zone Alarm on one computer at home, and when I bougth another computer which I now have Norton Internet Security, I nearly cancelled my order for N.I.S. to have Zone Alarm on, but I am now glad that I did not, as N.I.S. appears to be the business. In the past after having problems with viruses and unauthorise access to my computer some kind of computer security in todays world is essential. Do you want to pay 25 subscription per year or whatever to get your hard disk fixed and the lost of your computer over that period while it is being fixed. I am not an expert on Panda Security so I cant comment. But as I understand with Formjet they are aiming at a market for people with less money to spend on software for Panda and especially Ability Office, and especially with the latter they may succeed in winning a lot of orders, especially when one considers MS prices.

Could be time to look at this one again.

I am still holding onto this "lame duck" what are your thoughts then Moneyman ?

Whatever your thoughts are/were - keep it up 18% up will do nicely.
Make that 30% at 3.45pm

Directors were forecasting - wrongly now as it would appear - earnings per share of 1.6p, so does anyone know what the revised - realistic forecast - is that we can now expect?

After being 7.5p and down to 2p only last week we have seen a 50% rise, but where from here - up or down, can the current share price be substantiated, or is it cheap?

guru - are you saying the revised EPS is 1.6p. If so where did you find that and it would appear to be 4 times better than previously forecast. Do you also agree a PE of 7.8 and NAV at 1.50p ? Should these figures be confirmed then yes it does look cheap still. I recently bought more to give me an average at 5.7p and that looks on the cards given the past two days of trading - good luck

1.85M trade gone through. Is this what dropped it ?

Now thats an interesting RNS. Good to see a trust fund finding value in FMJ at this level. I expect they think the house has been cleaned and it can only get better from here.

http://business.guardian.co.uk/story/0,,1717515,00.html

Software group Formjet led gains among the smaller companies, adding more than 35% in value with a 0.62p pence gain to 2.37p after news Weighbridge Trust has purchased 5.25m shares in the group, representing just over 6% of the issued share capital.

Tell us something we dont already know.

Bought at 1.95p and will dump tomorrow, feel for those sucked into
the pump from advfn ramp threads such as the ghastly "ups" thread,
i suggest dont chase this stock one bit because like me others are
using the ramp to sell except i'm not ramping it.

Oh dear ! Did you also hold EVS ?

Picking up momentum now.

Daniel Stewart has issued a SELL note today :

Morning flash Formjet
24 April 2006 FMJ.L 2.75p SELL

Formjet, the distributor of software products to the UK corporate and consumer markets, has announced final results in line with expectations that were reduced in February to reflect higher one-off, exceptional costs and increased provisions (0.3m) occasioned by the closure of Cambridge based operations and the relocation of all Group business units to Crawley, West Sussex.

2005 was a very difficult year for Formjet with the departure of a number of key personnel due to ill-health, delays from its main product provider and weakness in retail IT spending. Formjet significantly expanded its cost base during the period and sales targets proved overly optimistic andforecasts were repeatedly reduced during the year. The company also suffered from a level of bad debt.

Sales at Panda Software UK, Formjets largest division, were flat a function of product delays and increased competition with the entry of Microsoft and others into the security sector and increased price competition. Although gross margins increased to 65.9% from 63.7%, Formjet suffered from increased sales salaries, recruitment costs, bad debts and group overhead. According to management, the initial contribution from SouthCoast Distributions, acquired in July, was disappointing and the targets for Ability were set far too high.

Formjet has addressed the staffing issue with the appointment of Tony Lee an experienced Finance Director and Simon Hallworth as Sales Director. The company also reports sales growth from Panda Software and SouthCoast in Q1 FY06 and believes it has sufficient resources for its 2006 programme. Net cash at period end was 0.2m.

Although the company has taken remedial steps we believe that competition in Formjets chosen markets (security and desktop productivity software) has rapidly intensified and will continue to intensify. On the basis of our current forecasts, Formjet is trading on a FY06 PER of 16.6x. We believe this fails to reflect the competitive situation and maintain our SELL recommendation.

Estimates :
Year End : 12/06 E
Turnover () : 4.6m
EBIDTA () : 0.2m
DS&C PBT* () : 0.2
Tax % : 0
DS&C EPS* (p): 0.2
DPS + (p): 0
EV/EBITDA (x) : 11.3
PER : 16.6
yeild : 0


* pre goodwill amortisation and exceptional charges.

A positive AGM statement from Formjet** helped shares continue their recent recovery, adding 0.125p higher to 2.5p. The group confirmed that it continued to performed in line with budget in the first quarter of 2006. Meanwhile, Formjet said that it was currently investigating some "interesting commercial opportunities".

KD.

Tesco to sell FoRmjet products!!!!!!!!