01.03.2004
transtec accumulate
AC Research: kaufen
The analysts of AC Research continue to recommend that investors should accumulate the shares of transtec (ISIN DE0007241424/ WKN 724142), a system provider of Unix and Windows NT computers and storage solutions for professional customers in industry, retail, public services and research facilities.
transtec's management has published their results for the late financial year 2003. Accordingly, the company incurred a sales decline by 116.1 million to 81.6 million EUR, mostly due to the sale of the tec2b AG and the ongoing economic weakness. However, as a consequence of successful cost reduction measures, pre-tax earnings improved from -0.4 million to 0.2 million EUR at the same time. Following new legalisation in December of 2003, latent tax on accumulated losses was reduced by 3.4 million EUR. Thus taxed losses amounted to 3.2 million EUR. At the same time liquid means increased by 0.2 to 8 million EUR.
At current share price levels of 4.60 EUR, transtec's market ca pitalisation amounts to 17 million EUR. As far as the analysts are concerned, the stock seems rather modestly valued at these levels. At present, almost half of the company's market capitalisation is covered by liquid means. In addition, transtec made notable progress on the operative level. The significant increase in taxed losses was the consequence of a special tax item. In the course of a slightly improved market environment, a return to profitability seems feasible during the current fiscal year.
The analysts of AC Research continue to rate the shares of the transtec AG as "accumulate".
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transtec accumulate
AC Research: kaufen
The analysts of AC Research continue to recommend that investors should accumulate the shares of transtec (ISIN DE0007241424/ WKN 724142), a system provider of Unix and Windows NT computers and storage solutions for professional customers in industry, retail, public services and research facilities.
transtec's management has published their results for the late financial year 2003. Accordingly, the company incurred a sales decline by 116.1 million to 81.6 million EUR, mostly due to the sale of the tec2b AG and the ongoing economic weakness. However, as a consequence of successful cost reduction measures, pre-tax earnings improved from -0.4 million to 0.2 million EUR at the same time. Following new legalisation in December of 2003, latent tax on accumulated losses was reduced by 3.4 million EUR. Thus taxed losses amounted to 3.2 million EUR. At the same time liquid means increased by 0.2 to 8 million EUR.
At current share price levels of 4.60 EUR, transtec's market ca pitalisation amounts to 17 million EUR. As far as the analysts are concerned, the stock seems rather modestly valued at these levels. At present, almost half of the company's market capitalisation is covered by liquid means. In addition, transtec made notable progress on the operative level. The significant increase in taxed losses was the consequence of a special tax item. In the course of a slightly improved market environment, a return to profitability seems feasible during the current fiscal year.
The analysts of AC Research continue to rate the shares of the transtec AG as "accumulate".
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