(Anyone lucky enough to buy my 2003 share of the year enjoyed a roller-coaster. At one time Holllis Eden on Nasdaq reached 5 bagger status before falling back. i recommended selling at 2.25 bagger time but hey not bad!)
I don't expect this year's one to be quite so dramatic but here's hoping! I think it could easily be a bagger+ though!
Gladstone is a relatively little known software stock with solutions for internet and broadband that appears to be ahead of its competition. The market cap is 5.8 million but the total assets are 8 million. Anyone sneaking out results in Xmas week might well cause suspicion but GLD's were really good. It has turned a 1 million+ loss into a small profit and there is a lot more to come as the company has now a strong customer base. It looks like they are on the acquisition trail as a close reading of recent statements shows a Director taking a more active role in the search but they could easily become a target themselves. They have cut costs too and a very confident board paint a rosy but not rose-tinted picture of the outlook. A reorgnisation of the share capital will reduce the shareholder base from 8000 to nearer 2000. A sensible move as some paid several pounds a share in the dotcom days and they are now to be offered a return wothout costs on their investment.
At 12.75p they are in a narrow trading range which has lasted most of 2003 but when or if they breakout a substantial upside move is on the cards.
Undervalued. Buy.

Well done Hawick - an excellent spot. NB price doubled in May following upbeat trading statement.

Total assets are 8m as you say but most of that is goodwill.

I hold a few - upbeat statements from Chairman & CEO & maybe an acquisition on the way.

Well congratulations to Hawick for a very good tip. The breakout has now started following strong interims. Price up to 16p at 11am

well done - more to come. imo

Hi All. Thanks for kind comments! Rather :o .

I think that it will take 12-18 months to see the real value here and i am thrilled by today's results and outlook. Here are my reasons: Results this morning from GLD are superb. Post tax profit of 232,000 may not sound earth shattering but the accompanying outlook statement certainly, as expected, is! Talk of increasing 'long term recurring revenues' and 'international market expansion' should enable the company to meet its last remaining challenge and increase turnover significantly to go with the profits increases already starting to come through.

They also report a strong order book.

2004 looks like an exciting year. Given that BDI and MNS trade on approx double the market caps of this one and have similar (IMHO slightly less persuasive) profiles, GLD remains a very strong buy. The chart is breaking to a 52 week high, golden crosses and moving averages point the right way.

Lastly and perhaps most persuasively the introduction of chip and pin technology, for which GLD's product is the internet industry leader, should guarantee further growth. A market cap up to 6.5 million this morning is most undemanding. I always said this was a 12-18 month (at least) share and my price target is 31p in that period, giving a market cap of around 13 million.

Powerful Buy.

Agreed Hawick. If we are looking at EPS this year of around 2.2p then on a multiple of 15 (?reasonable) that equates to a share price of 33p - so I am pretty close to you Hawick.

However of course this is a small and relatively obscure company so that we can expect the price to fall away when there is lack of newsflow. I would see that as a buying opportunity (on the assumption of no profit warnings etc).

I wouldn't expect to see 30p until after the final results - back end .of 2004 at the earliest. All DYOR.

I reckon we will see 30p this year & will hold till we do so.
Market leading software companies with International growth prospects are hard to find at this price.

Seeing how few posters there are on this topic, it is little surprise that the share has such a low value in the marker. If one looks at other companies in the sector, it seems to me that this should at this moment be trading at or about 20-22p and that is not taking into account growth prospects.

I feel the companies own website lets it down to some extent. Mind you that said, far better spending time on customers and building this exciting business that has returned from the ashes and is now debt free and cash positive. With cash just rolling in now and growth under way the prospects are outstanding for this leading supplier of MRM software.

Website is undergoing a transformation & their broker has tipped them as a buy.

Cheers Orion, any more on the broker tip, is there a link atall? Thanks, Jim.

Have a look at the AFN site & gg will mail it to you.

Who are their brokers?

Who are their brokers?

Brewin Dolphin are brokers.

Ben Merrett the CEO will be on AFN's Intercast giving a live Interview
at 2 o'clock Monday the 29th if you want to listen in.

Well so far so good - well done Hawick! Serious breakout in the last couple of days way out of the 12 month trading range. The trading update was tremendously positive.

Well so far so good - well done Hawick! Serious breakout in the last couple of days way out of the 12 month trading range. The trading update was tremendously positive.

Cheers beaufort! Yes the real breakout is above 16.5p from where it could really run very quickly up. And we are right on that now. The chart shows higher lows since early February and clearly the initial uptrend is now pretty firmly established. Hope people are holding. As I said this was very much one I tipped on the grounds of 2004 and beyond being a time of growth for the business. Not a short term punt.

Despite the recent corrections in the Aim index and technology in general this one has kept getting stronger, which is gratifying!

hawick - nice steady one for 2004 with no sleeplesss nights!!
New website looks good too with regular updates, we will see 25p+ this year! :-)

http://www.gladstonemrm.com/gladstoneinternet/default.aspx

Half time whistle, so far so very nice!!

Now it's really motoring. The IC tip has made all the difference.