| To: JanyBlueEyes who wrote (71) | 6/15/1998 10:05:00 PM | | From: JanyBlueEyes | | | |
News - Public offering
ST. LOUIS--(BUSINESS WIRE)--June 15, 1998--The Source Information Management Co. (NASDAQ:SORC) today announced that it has commenced a public offering of 2,000,000 shares of Common Stock, including 500,000 shares offered by certain shareholders of the company, at a price of $6.00 per share pursuant to a registration statement declared effective by the Securities and Exchange Commission on June 15, 1998.
Donald & Co. Securities Inc. is managing underwriter for the offering. The Source's Common Stock is quoted on the Nasdaq National Market under the symbol "SORC."
Net proceeds of approximately $7.9 million from the sale of shares of common stock will be used to expand The Source's Advance Pay Program, finance potential acquisitions, develop new or enhanced products and services, and provide working capital for general business purposes, including the continued upgrade of The Source's computer systems.
The Source provides information-gathering, consulting and other information-based services to operators of mass merchandise, grocery, convenience and pharmacy stores located throughout the United States and Eastern Canada....
This announcement is neither an offer to sell nor a solicitation of an offer to buy these securities. Any offer is made only by the Prospectus, copies of which can be obtained from Donald & Co. Securities Inc., 65 East 55th Street, New York, N.Y., 10022 and such other dealers as may lawfully offer these securities. |
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| To: JanyBlueEyes who wrote (72) | 6/16/1998 1:39:00 PM | | From: JanyBlueEyes | | | |
News - Earnings
ST. LOUIS, Mo.--(BUSINESS WIRE)--June 16, 1998--The Source
Information Management Company (Nasdaq-SORC) today announced its sixth
successive record quarter for revenue and net income.
Net income for the first quarter ended April 30, 1998 was
$726,647 a 17% increase over the previous record 4th quarter results
of $622,199 and a 184% increase over the comparable first quarter from
the past year. Revenue for the quarter was $3,595,202 an increase of
6% over the 4th quarter and a 42% increase over the corresponding
quarter from last year.
*T
Quarter Ended Apr. 30, 1998 Apr. 30, 1997
Revenues $3,595,202 $2,527,879
Net Income 726,647 256,127
Avg. Shares 8,499,070 5,823,777
Shr. Earns:
Net Income .09 .04
Condensed Summary Balance Sheet at April 30, 1998
Current Assets $21,505,951
Non-current Assets 4,228,736
-----------
Total Assets 25,734,687
Current Liabilities 3,116,385
Non-current Liabilities 9,385,283
Total Liabilities 12,501,668
Equity $13,233,019
*T
These results reflect the continuing development of various
improved service programs the Company provides for its retailer
clients. The Company has now completed its consolidation of all
acquisitions into its High Point operation and has successfully
expanded its Advance Pay and Front-End Management programs.
The Company introduced newly developed technology for its Front-End
Management program called SOURCEPRO in June of this year. Front-End
Management now has over 10,000 stores under contract, up from 2,000 stores
since October 1997. This technology enables retailers to see 3-D imaging
of checkout configurations and instantly calculate the potential earnings of
each configuration based on historical data.
The Source is a leading provider of periodical information and
related marketing services to hundreds of retail chains in the
grocery, convenience, mass merchandise, and pharmacy industries. Their
integrated software system is designed to efficiently and accurately
monitor sales of high volume consumer products primarily to optimize
sales incentive payments offered by manufacturers. |
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| To: JanyBlueEyes who wrote (73) | 6/17/1998 12:15:00 PM | | From: Tensane 1 | | | |
Jane,
Seems that this company continues to show that they are truly a growth company, accelerating their earnings, increasing their market share, increasing their markets, etc.
Couple of questions, this private offering, with their current asset to current liability ratio so good, why not generate cash from within, why do a secondary, and why the 500,000 sold by insiders on this deal? I could speculate that they have a target for acquisition, or they have a new product to roll out, and need cash to assist in rolling out the new product, but thought I'd ask your opinion.
No one can dispute their growth, but it has been my experience that it usually takes time for the market to accept a secondary offering unless the money is immediately utilized.
Kevin
P.S. It's a lot more fun discussing the business at hand, instead of defending your dignity, isn't it, it's been a tough couple of weeks. |
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| To: Tensane 1 who wrote (74) | 7/9/1998 12:05:00 AM | | From: Gurupup | | | |
I have tried to post on this site for 3 days, and it would not take.
So I am trying again. SORC is in Wall Street Journal today in Investment Dartboard:Pros handily beat darts. I don't know how to access Dow Jones News or Wall Street Journal, but it is a good article. Company is shooting the lights out fundamentally, and the recent secondary offering brought in many new heavy players, who see this as long term major idea. Not a small growth stock anymore, about to join the major leagues.
My price target is at least a double from here in 12 months, and maybe higher as earnings are going to explode, and new ventures are going to take them to a new level. |
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| To: Gurupup who wrote (75) | 7/9/1998 7:49:00 PM | | From: Tensane 1 | | | |
Skip,
Did you see the volume today? Remember when they were in the 20k range? I wasn't so sure that they were doing a good thing when they made the secondary, but it seems to give the stock more liquidity. They seem to have their act together.
Kevin |
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| To: Walk Softly who wrote (77) | 8/19/1998 8:46:00 PM | | From: IndyTom | | | |
Recent pullback a good buying opportunity in SORC. Latest I have heard from compay is that prepay program is very strong. Recently acquired Texas-based operation should contribute further. Possibility of UPC project starting to contribute by year-end. IMHO the growth engine looks solidly in place at SORC. 1-year tagret price $10-$12.
Go SORC,
Tom |
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| To: Walk Softly who wrote (79) | 9/3/1998 10:45:00 AM | | From: JanyBlueEyes | | | |
QUARTERLY RESULTS
The Source Information Management Company Announces Another Record Financial Performance
BusinessWire, Thursday, September 03, 1998 at 09:26
ST. LOUIS and HIGH POINT, N.C.--(BUSINESS WIRE)--Sept. 3, 1998--The Source Information
Management Company (NASDAQ:SORC) today announced its seventh successive record
quarter for net income.
Net income for the second quarter ended July 31, 1998, was $790,786, a 137% increase
over second quarter of 1997 net income of $333,472.
This also represents a 9% sequential increase over the first quarter of 1998, which was
a strong quarter, reflecting extraordinary magazine sales due to publications dealing
with the death of Princess Diana.
The Company also announced today that it has entered into a contractual
relationship to provide retail display allowance services to Eckerd
Corporation. Eckerd operates over 2,500 stores.
Quarter Ended July 31, 1998 July 31, 1997
Revenues $3,580,588 $2,940,137
Net Income 790,786 333,472
Avg. Shares 9,238,183 5,890,443
Shr. Earns:
Net Income - Basic .09 .04
- Diluted .09 .04
Six Months Ended
Revenues $7,175,790 $5,459,668
Net Income 1,517,415 589,598
Avg. Shares 8,865,692 5,857,698
Shr. Earns:
Net Income - Basic .18 .08
- Diluted .17 .08
Condensed Summary Balance Sheet at July 31, 1998
Current Assets $23,637,000
Non-current Assets 6,660,489
Total Assets 30,297,490
Current Liabilities 5,723,762
Non-current Liabilities 2,496,599
Total Liabilities 8,220,361
Equity $22,077,129
The information contained in this press release may include statements
regarding matters
which are not historical facts (including statements regarding the plans, beliefs or
expectations of the Company) which are forward-looking statements.......
The Source Information Management Company is a leading provider
of periodical information and related marketing services to the majority of retail chains
in the grocery, convenience, mass merchandise, and pharmacy industries.
Their integrated software system is designed to efficiently and accurately
monitor sales of thousands of high volume consumer products primarily to optimize
and collect sales incentive payments offered by manufacturers.
CONTACT: The Source Information Management Company, St. Louis
W. Brian Rodgers, 314/995-9040 |
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| To: JanyBlueEyes who wrote (80) | 9/3/1998 5:30:00 PM | | From: Tensane 1 | | | |
Jane,
Yet another great quarter for a very low key company that IMO is very well run and continues to show accelerating growth. Why is this company still selling in the mid 5's is beyond me. I'm sure that the overall market situation may have something to do with it. Great news on the Eckerd deal. I live in Florida and they are putting up new stores everywhere. Correct me if I'm wrong, but doesn't JC Penney now own Eckerd's now? You would think that JC Penney could become another potential customer. At present, I don't own any stock in SORC but still watch it, and like the company, I sold to buy more CCSI at the $14 level. Not looking like a good move, but I still feel CCSI will pay us in the long run, I'm still a believer.
Kevin |
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