Eg Solutions Share Discussion Threads

[cyberpost] 14/8/2009 14:35

UKHotViews from TechMarketView LLP

eg - setting an example

(By Anthony Miller - Thursday 13th August 2009 5:00pm).

I doubt our tag "Little British Battler" could be applied any more appropriately than to operations management software player, eg solutions. They've been around since 1988 and listed on AIM in June '05. The past three years have been a real battle, with revenues in steady decline from just under £6m in FY06 to £3.7m in the year to 31st Jan. '09 and losses in each. Yet meeting founding CEO, Elizabeth Gooch (eg - get it?) as I did today, you come away feeling that not only is the battle still there for the winning, but she aims to win it.

Why I particularly wanted to meet Gooch was to find out more about eg's 'offshore excursion'. Hers is a company with barely over 40 employees, yet is making very effective use of offshore resourcing, in South Africa for product development, and in India for finance and accounting. I will tell you exactly how in OffshoreViews soon, but let me whet your appetite with this snippet. eg reduced its finance and accounting staff costs by 70% and now has more timely and accurate management reports. They have also increased their product development headcount at roughly one-third of the cost had they hired onshore.

One other insight that might be useful for other AIM-listed LBB's. Gooch estimates that the cost of maintaining eg's listing is around £200k p.a. (see our previous comments on this in IndustryViews Quoted Sector). They recently did some deep soul-searching (i.e. strategic planning) and came away convinced that a public listing was still right for the company. I read this as much as a show of loyalty to patient investors (eg listed at 85p and currently trades at 32p) as a vote of confidence in the product and the market opportunity. We will also be using eg as one of our case studies on how small software companies are handling the transition from an 'on-premise' delivery model to SaaS. So much good stuff from such a small player!

UPDATE - Friday 14th August 8:00 am

eg issued a trading update this morning which brought the somewhat better news that its first half returned to profit (just!). We'll bring you more towards the end of September.

[cyberpost] 14/8/2009 08:53

Period end trading update (Eg Solutions)

eg solutions plc




PERIOD END TRADING UPDATE


eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the operations
management software company, is pleased to issue an update on trading for the
six months ended 31 July 2009.


The positive trends announced at the time of the Annual General Meeting on 16
June 2009 have continued for the remainder of the first half year.


The results for the half year are expected to be in line with expectations with
revenues of approximately GBP2.1 million (H1 2008: GBP2.3 million) and a turn
round from a loss of GBP0.8 million in the second half of last year to a profit
of approximately GBP0.05 million, unchanged from the first half of last year.


Net cash deposits as at 31 July 2009 were GBP0.6 million, up from GBP0.26
million at the last year end.


Despite difficult market conditions, the Company has been pleased to announce a
number of new contract wins in recent weeks, underpinning expectations for the
current year as a whole with over 80% of anticipated revenues for the year to 31
January 2010 already contracted.


Announcement of results for the six months ended 31 July 2009

The results for the six months ended 31 July 2009 are expected to be announced
on Wednesday 23 September 2009.

[julcester] 13/8/2009 08:06

Why is this in auction?

[cyberpost] 29/7/2009 08:57

RNS Number : 4585W
EG Solutions plc
29 July 2009

eg solutions plc

NEW CONTRACT WIN

eg solutions plc ('eg' or 'the Company'; LSE-AIM: EGS), the operations management software company, announced today that it has signed a further new sales contract valued at £230,000 for software and services with a major UK life and pensions company that is an existing client.

eg's operational management software will be rolled out to 400 additional staff in the operational teams to support improved capacity and work flow management and to provide consistent operational management information. This sale follows a successful implementation project during 2008 within the same Division.

As a result, the total number of users of eg's software within this client has now increased to over 1,600 with installations across four divisions.

Elizabeth Gooch, Chief Executive Officer, commented: 'This additional purchase of software and licences is an excellent example of the progressive roll-out of our solution within a major financial services business. Revenue will be recognised across both half periods in our current financial year.'

[cyberpost] 16/6/2009 08:08

Nice update....

[gerry138] 16/6/2009 07:20

A positive statement:
"At the start of our current financial year, the Company's pipeline of potential
sales was stronger than at any time for the previous two years. I am pleased to
report that this pipeline strength has continued"

Gerry

[gerry138] 16/6/2009 07:18

eg solutions plc


ANNUAL GENERAL MEETING STATEMENT




eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the operations
management software company, will be holding its Annual General Meeting at 10:30
am today. The non-executive Chairman, Rodney Baker-Bates will present the
following statement:


"At the start of our current financial year, the Company's pipeline of potential
sales was stronger than at any time for the previous two years. I am pleased to
report that this pipeline strength has continued. Despite the turbulence in the
financial sector during 2008, it is evident that there is now more composure in
our principal marketplace with a greater emphasis being placed on achieving
improved operational efficiency.


"Although decision times within our customers remain longer than we would like,
the Company has made solid progress in converting its sales pipeline prospects
into firm orders. A number of new contracts have been announced in recent
months including an order valued at a minimum of GBP1.6 million from one the
largest bancassurance groups in the Nordic region. This reflects a continuing
demand for 'spend to save' IT products within our core financial services market
both in the UK and overseas.


"This stream of new business underpins expectations for the current year with
some 72% of anticipated revenues for the year to 31 January 2010 already
contracted.


"We are pleased to report that cash flow has been positive during the opening
months of the current year; net cash deposits as at 12 June 2009 were GBP0.6
million, up from GBP0.26 million at the last year-end."


Ends

[finmac] 13/6/2009 23:46

Keepup the good work
Regards
Finmac

[cyberpost] 09/6/2009 10:44

AGM is on the 16th, so there should be an updated trading statement issued then.

[julcester] 09/6/2009 07:59

Nice one guys. Building the company back up slowly (well, not that slow!), but surely.

[gerry138] 09/6/2009 07:12

MMEDIATE RELEASE


9 June 2009




eg solutions plc


NEW CONTRACT WIN WITH NATIONWIDE REGIONAL BRANDS


eg solutions plc ('eg' or 'the Company'; LSE-AIM: EGS), the operations management software company, announced today that it has signed a further new sales contract with Nationwide Regional Brands.


eg's operational management software and methodology will be rolled out to the recently acquired elements of Dunfermline Building Society. This sale is in addition to the project to supply software and services to Nationwide's Cheshire and Derbyshire Regional Brand businesses, announced in January 2009.


Elizabeth Gooch, Chief Executive Officer, commented: 'This additional purchase of software and licences will help Nationwide Regional Brands improve operational efficiency as they continue their expansion. Revenue will be recognised across both half periods in our current financial year.'


Ends

[julcester] 29/5/2009 18:26

Nice one Gerry.

[gerry138] 29/5/2009 16:46

That 4000 that shows as a sell today was actually a top up for me.
Gerry

[rbcrbc] 13/5/2009 21:21

Bones, you should check out SC. if you want some nice upward movement in another micro cap:

[bones698] 13/5/2009 21:01

was hoping to see a pullback here after so long, cyber sell some and tank the share price please, i promise i will bring it staright back up lol

[sik68] 01/5/2009 19:03

I am still in here, too!!!
I checking it once per year!!!

[rbcrbc] 24/4/2009 10:49

Nice one - one of these every month from now on please ;-)

[cyberpost] 24/4/2009 07:19

Cheers jules. Fantastic news. £1.6m contract..... market cap just under £4m.

[julcester] 24/4/2009 07:15

Great news :o)

[julcester] 24/4/2009 07:14

eg solutions plc



NEW CONTRACT WIN



eg solutions plc ('eg solutions' or 'the Company'; LSE-AIM: EGS), the operations management software company, is pleased to announce that it has won a significant contract for a project with a new customer - one of the largest bancassurance groups in the Nordic region. This contract will have a minimum value of £1.6 million with just over half of the revenue to be recognised in the current year and the balance spread evenly over the following four years.


This initial project in the customer's claims department will implement eg's operational management software and methodology within the life assurance and pensions company of the group to increase efficiency and reduce costs. The project will commence immediately.


Elizabeth Gooch, Chief Executive Officer, commented:


'This contract win is a significant development for eg as it represents our continued international expansion within our targeted overseas markets. It also demonstrates the applicability of our products in improving operational management in customer service operations anywhere in the world.


'In recent announcements we have noted that our pipeline of potential sales was stronger than at any time in the past 24 months. This contract win shows that we are making progress in converting that pipeline into new sales contracts.'


Ends

[cyberpost] 24/4/2009 07:12

Just received an email alert that they've issued an RNS this morning

"Significant New Contract "

There is also an "A" next to the stock quote.... but I think ADVFN RNS news feed is playing up so can't find the news release.

[h101] 17/4/2009 12:44

Thanks. I'll re-assess EGS on its next set of half year results.

[cyberpost] 17/4/2009 09:26

H101, not face to face, I had the opportunity but couldn't go. I have talked to them regularly (and still do). The CEO is top notch. She's a class act. She knows the industry inside out (she created the business and is from an IT background) - she set out restructuring around 2 years ago, to make the company lean and mean - she has delivered on that promise. Now with minimal costs, any cash flow will hit the bottom line and disproportionately increase profits.

Regarding "creative accounting" - you really can't miss the debt on a companies books. It's in the balance sheet. Comsiserations once again on your experience with IFNC.

[h101] 17/4/2009 09:21

Yes - a good rule of thumb. When there is debt it needs to be easily serviced or backed by cash/hard assets. Even so, creative accounting can pull the wool over the shareholders' eyes.

When you say you know the management - is this face to face, in a public meeting, telephone call or interpretation of investor material?

I ask because it is important. Nothing beats a one on one, looking into the eyes assessment.

[cyberpost] 16/4/2009 13:33

One of the key things I now look for when investing is that the company has zero or very little debt. Anything debt ridden I ignore.