Modified | DDT |>| FRI.NOV,971114,15:10-5 | CoSy/Home ; CoSy/Current © Coherent Systems Inc .

NYSBC(NAS:EPIX)9711

  ============================: THU.NOV,971106 :============================
|( 9711051606,BobA )| EPI Proprietary Bankruptcy Software . Record growth BR
 > 1E6 in `96 | 5 BR models : Ch 7 liquidation . 13 reorganized & discounted
 payback . 11 corp reorg . 9 municipalities . 12 farmers .
 | Their client BR trustee |
 New ability to mng Ch11 Deposits . License software thru depository bank -
 take fee based on agregate deposits . Internet BR link . Strong support @
 Ch7 convention 9708 . Work w Nations Bank - largest Fed bank . 4th largest
 overall . Web based svc connecting BR users . 1st large scal use of INet in
 their sector .
 Gaing mkt dominance thru data collection .
 Ch13 is 1st Win95/NT product on mkt . Sucessful initial installs .
 Always have delivered prod on time .
 3 Phase busn plan : for debtors : petition mngt . for creditors : claims
 recovery systs . Doc Imaging systs . all countrys have similar BR laws .
 Plan to dominate BR mkt . Then move into similar claims - restitution
 systems .  5 yr plan : $50M rev .
|17:7| Tom :  3 Qs of .3+ growth to 6.3M$
  '%' N 1.86 2.02 2.22 |>| 1.86 1.09 1.1  | r * 4 |>| 11.97 1.39 1.46
  E%S | `96 .11 1.2 increase | Qs | +/ .04 .04 .06 |>| 0.14 | already on 2x
  shares .
 Gross Profit `96 .476 |  Qs | .514 .52.5 .526 |
 OpCashFlow (EBITDA) | 9 mo 960930 | 1.07 E6 | .23 of rev
   97 | 1.66 | .273 of rev  | .52 $ % share | expect whole yr .72$
 When did road show : proj .5 increase |
 Went public to accelerate growth . X- Xerox . looking @ growing shareholder
  value .
 Fahnstock  Recomendation :
|17:17| ?s : fees come from EndUser Trustee receives @ no direct cost . They
 get portion of interest . Payments received montly , collect wi 30 days .
 100M$ they mak 1.25 , 1.5M . now in 3-400M of  3B$ tot mkt .
 Money tends to stay up to 7 yrs . | Trustee must use their bank .
 Nations Fed Gov Banking div .
 Competitors : ch7 : Chase | Union Bank , SF CA |
 Internet Security ? - not passing critical info over net .
 Lucander : Software obsolesence risk .
 Abe : R&D cost , Acqs ? Acqs Y a few . R&D .5M last yr .
 ? How make human ? make more efficient . BR now becoming Busn Xactn .
 price : EPIQ - 8
 E%S growing 1.0 |
 Overhead ?
|FRI.NOV,971107,10:50| Afterwards to young guy : Programming Language ? He : won`t say for competetive reasons . I : I believe there is nothing more powerful than APL family languages so I find the notion of the underlying language being a proprietary advantage is silly .

Going further , At APL97 some very sophisticated actuarial applications for the insurance industry were presented which run in price to $200k .

For the .0125 of just one big bankruptcy ( $ 100M ) they implyed they receive , you could create a very worthy competitor . Generally , to me , they seemed too smug .


\/ \/ \/ Feedback \/ \/ \/

If you would like to be notified when this page is updated , enter your e-mail address here :
Comments ?
Or : Email : bob@cosy.com
IF you find this interesting , chk : CoSy/Home
CoSy/Home ; CoSy/Current