Patsystems Share Discussion Threads

[hybrasil] 28/4/2011 12:47

very quiet thread

[bg23] 28/4/2011 11:20

i note the mention in the ft in respect of the HKMEx going live next month - apparently Pats provide the exchange front end amongst other bits n pieces

more infrastructure in the far east - lovely.

[bg23] 21/4/2011 10:25

well its really going gangbusters on here !

i am told, but can find no corroborating info tha the 'exchange' that the company has signed and confirmed at the agm is a chinese commodity exchange

if thats true, it might open up the whole market as the chinese have in excess of 25 different futures and commodity exchanges within their borders.

it would be nice to see the company ''emerging in the emerging'' so to say

[bg23] 10/2/2011 17:27

on stockopedia - edison analyst report




i seem to have a shareholding in the cheapest company in the sector - and it got cheaper today !

[bg23] 10/2/2011 17:07

Hello Maddox,

long time no hear. i trust you are well.

annual results seem to be for a company that hasn't progressed at all - yet this is not how i understand things, and they confirmed that client signings expected pre year end have been made.

i saw the ceo on cnbc talking about the resuts and read the various releases, interviews. He seems to have pre anounced an exchange deal as well as the possibility of a merger/takeover that will grow the recurring revenue !?

i haven't yet read the updated edison report, but did see a comment somewhere where they have it down as a value play !

i think the ceo has lost a bit of ground recently - and what to make of the re-appointment of stuart douglas mann ? if we don't see any director buying and clear guidance i might have to contact ION and suggest they hurry up and put us out of our mysery!

that said, googling the company news stories on results day, i did come across an analyst comment that along the lines of 'the company was moving on too many fronts... etc' and they had the cheek to say that more focussed companies like Ffastfill might be a better investment ?

if that perception is common thinking i'm going to massively increase my stake in pats as they will probably get taken over within weeks !

good luck,

bg23

[trackerjack] 09/2/2011 18:04

An article on Growth Company Investor by the Editor Miles Nolan

[nellie1973] 08/2/2011 16:46

Broker notes out

[maddox] 08/2/2011 14:56

Hi bg23,

The results look pretty mundane and the market reaction is unsurprising despite the increase in divi. The interesting feature is the strategic shift towards an ASP proposition. IMHO this could significantly accelerate sales and grow their addressable market.

Regards, Maddox

[bg23] 08/2/2011 10:37

the company seems to have lost any following on here?

results out this morning - don't appear to be any surprises after company had downgraded outlook and gotten analysts into line.

just seen an interview on dow jones news with webber. says the company spent £750k last year and will spend £500k this year on new data hosting centres which in turn might have bought the cash balances on account lower than analysts expected ! he does say they have signed up users for the data centres and also a new exchange which will be anounced in due course - so things seem to be moving ahead

highlights follow:

PATSYSTEMS PLC

RESULTS FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2010

Financial Highlights

-- Total revenue GBP22.1 million (2009: GBP22.1 million)

-- Adjusted pre-tax profit at GBP3.8 million (2009: GBP3.9 million)*

-- Cash and cash equivalents increased to GBP9.3 million (2009: GBP8.9 million)

-- Proposed full year dividend increased 29% to 0.55p per share (2009: 0.425p per share)

*adjusted for share option costs, marking to market of derivatives used to hedge cash flows and amortisation of intangibles other than internally developed software

Operational Highlights

-- Continued expansion into new growth markets with sales success for exchange offering in Argentina and Vietnam

-- Hosting centres established in Chicago, Hong Kong, Tokyo, Singapore and Sydney to deliver a fully-managed Application Service Provider ("ASP") to existing and new customers

-- Business' global ASP offering promoted as Patsystems XConnect making anticipated contribution to trading systems revenue growth in 2011

-- Bursa Malaysia Derivatives selected Patsystems as the provider of its new order management system

Richard Last, Chairman, of Patsystems, commented:

"2010 was a year with a mixed performance across the business. We saw some notable sales successes, such as the new customers for our exchange system offering, tempered against deferred sales opportunities for our risk product and marginal growth within our trading systems business.

The Group continues to demonstrate continued cash generation and profit resilience and we expect this to continue in 2011 and beyond. The continued payment and growth in the level of the dividend is an important statement by the Board of our continued confidence in the growth prospects for the business.

Patsystems commences 2011 with an encouraging sales pipeline that will provide opportunity to expand our geographical presence and grow the revenues for each of our product offerings."

[dealit] 03/2/2011 19:27

Bought some more today see pts as a 3p mark up upto and including results.

[deeppockets] 11/1/2011 12:37

Price starting to tick upo before results?

[woodcot] 22/12/2010 23:07

Thanks interceptor2, you're probable closer to mark than my comments.

SP seems to have steadied and it was interesting to see 2 non-executive directors buying even if they are relatively small quantities.

Not sure what they will come out with on 8th of Feb but I'm not expecting bad news.

Think they're a good bet long term however apart from a bid from ION I can't see any real progress in the short term.

Thanks for the information Rockafella.

Regards
W

[rockafella2] 21/12/2010 22:24

New note -

[hybrasil] 21/12/2010 12:09

its probably worth a punt for a quick 10% .

[interceptor2] 15/12/2010 08:55

I'm not sure about a 180 degree U turn, because they said in the last update they expect to meet last years adjusted profit of £3.9m.

Now they expect to achieve current market expectations. But since the last update Edison have remained unchanged at 2.4p for 2010, but Numis have downgraded EPS to 1.3p.

So what in PTS opinion is the current forecast?

Maybe between the two. 1.7p???

Regards..........

[woodcot] 15/12/2010 08:18

Well, that's an interest statement...it's seems like a 180 degree U turn from their last statement.

Playing games, wonder what is really going on now?

[woodcot] 01/12/2010 11:38

Well, so much for my last post saying there is very little down side! I'll keep my mouth shut now.

Don't know which way to look at PTS now, may be a long shot but this may trigger a bid from ION at a lower level...or just wishful thinking?

I've only got a small holding of 34k shares but if the tide looks as if it's about to change, I may buy a few more, but at this stage I think only a bid off ION will see a change in our favour.

Hope I'm wrong!!!

[glasshalfull] 25/11/2010 23:37

Yep, agree ic2. I was implying a weak profit warning in my previous post. I can see it drifting further and reckon it could be an excellent buy down the line.

Here's HB's comment on the news.

Patsystems (PTS, 27.75p, £51.76m)

Patsystems (PTS, 27.75p, £51.76m) The group has warned that strong pipeline of potential for its Risk Informer product reported at the time of the interims has failed to translate in time to boost the second half. As a result the group now expects the adjusted profit to be in-line with that reported in 2009 – some £3.9m which would imply EPS around 2p – though that could increase to some £5.7m PBT next year with EPS of some 4p – so putting the group on 13.9x Yr1 PER falling to 7x next year. While the group is vulnerable to further delays – we see the rating a still broadly appropriate so rate the group a HOLD. (Julian Tolley)


Regards,
GHF

[interceptor2] 25/11/2010 18:44

I think the RNS could be classified as a weak profit warning, I will stay on the sidelines for now just to be safe. I know what you mean about better opportunities elsewhere, and had earmarked PTS as next inline to sell if I brought into a stronger company.

Still, we have RGS to look forward to tomorrow.

Regards........

[interceptor2] 25/11/2010 14:50

Trading update



12:30 - Strange time to issue an update.

Summary is inline to make Adjusted profits reported in last full year.

Sound like a profit warning to me.

Sold out straight away

Regards.......

[woodcot] 25/11/2010 12:40

Just some thoughts on PTS

The stock since I moved in early this year has remained relatively quiet, trading in a narrow band, of course it could argued very little downside.

PTS has had a steady stream of positive news over the year. ION Trading is sitting just under the 30% and I believe at some stage they will make a bid. However I don't know how the turmoil with the Irish financial system has effect ION capacity to make an offer or for that matter if it has affected their ability to make a meaningful bid.

We have seen interest from other institutions over the year but it's all gone quiet now. I remain positive that we are sitting on a good investment but not sure what the upside will be in 2011 without a bid from ION.

I will stay with PTS until they announce their final results in March/April next year and make a decision at that time which way I will move. My holding is relatively small however if I can see something positive on the horizon I will stay in and look to purchase a few more.

Anyway I can't see much downside and that's not a bad thing.

Looks like spoke to soon, just has I posted they drop a 0.5p

[bg23] 04/11/2010 10:39

surprised we ended a smidge lower yesterday, although thats been picked up pretty smartly today.

the stock is almost starting to look like a real one , over the last couple of weeks we have seen a significant increase in the number of trades, obviously a lot of smaller traders involved, but also there seems to be a bit of position sorting.

good news on yesterdays contract announcement, although as per normal, i can't find any reference to it in the press.

[interceptor2] 03/11/2010 07:44

Another positive contract win this week, which shows how PTS are operating worldwide now. Having been strong in Asia recently, they now have a foothold in South America which should generate additional new contracts in time.

Regards.........