ISR research
With over 200 companies listed in the technology sector, it is a constant struggle for smaller companies to get their voice heard by investors. I S Research is here to help.
Our clients
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Communisis Plc
ISR estimates | ISR researchCommunisis is a technology-led support services group providing software, data processing and print production services for direct marketing and transactional applications.
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Daisy Group plc
ISR estimates | ISR researchDaisy is a provider of unified communications services to UK businesses
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Gresham Computing Plc
ISR estimates | ISR researchGresham Computing supplies software and IT services for storage, systems management and banking.
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IDOX Plc
ISR estimates | ISR researchIDOX supplies document management and land & property software to the local government sector in the UK.
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Intelligent Environments Group Plc
ISR estimates | ISR researchIntelligent Environments provides software to enable on-line application and processing of financial products
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K3 Business Technology Group Plc
ISR estimates | ISR researchK3 provides business management software to customers in the Retail and Manufacturing sectors.
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Maxima Holdings Plc
ISR estimates | ISR researchMaxima provides software solutions and managed services to mid market companies in the UK.
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Monitise Plc
ISR estimates | ISR researchMonitise provides consumer-focussed mobile banking and payments services.
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Norcon plc
ISR estimates | ISR researchNorcon provides communications and IT project management and outsourcing consultancy services to telecom operators and government agencies.
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Parity Group Plc
ISR estimates | ISR researchParity provides IT services and is one of the UK's leading IT contract staff agencies. Parity has a particular strength in the public sector market.
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Workplace Systems International
ISR estimates | ISR researchWorkplace provides workforce management solutions primarily for the retail and hospitality markets in Europe and the US.
Recent company analysis
Waiting for the next move
Gresham Computing Plc | Download | Published on 31/08/2010For the first time in a long time, Gresham has delivered a set of results which were in line (in fact slightly ahead) of our expectations. Following a change of CEO, the business now seems to have stabilised and investors are now waiting to for the next strategic move. The Software division is generating a healthy return and the balance sheet is in much better shape. However, the Clareti businesses, which have promised so much and delivered so little over the last few years, remain break even at best. The challenge now will be to balance further investment in real time solutions, where growth opportunities exist, whilst protecting the hard-won cash position. In the mean time, the shares have stabilised at what we see as a fair level ahead of any fresh strategic initiatives.
Now generating significant transaction revenues
Monitise Plc | Download | Published on 27/08/2010Monitise’s full year results, which were well flagged at the recent fund raising, show strong transaction-led growth in revenues to £6m for the full year (£4.3m in the second half) and adjusted operating losses at £14.3m. The release provides more information on the progress of live US and UK operations towards break even. The company is now executing on the mobile money vision, whilst the £42m net cash on the balance sheet should help it maintain its early mover advantage as it invests in new ventures and in product R&D. We have maintained our forecasts, which were revised after the July fund raising. The shares have risen 32% since we initiated coverage in February 2010 and at 21.75p are close to our valuation of 23p, suggesting they are up with events, though the recent strengthening of the relationship with Visa shows Monitise’s strong strategic value.
Interims signal returning confidence
Communisis Plc | Download | Published on 26/08/2010Interim results from Communisis released this morning are in line with expectations and we have made no significant changes to our estimates. Perhaps the more notable aspect to these results is that they are accompanied by a crisp and confident statement on strategy. For us, this clearly signifies returning confidence. The shares have started to reflect this renewed confidence; a process that we expect to continue. Interestingly, having been through a painful downgrade cycle, we are now starting to feel that the risk to estimates is returning to the upside.
Monitise now generating significant transaction revenues
Monitise Plc | Published on 25/08/2010Mobile money provider Monitise’s full year results, which were well flagged at the recent fund raising, show strong transaction-led growth in revenues to £6m for the full year (£4.3m in the second half) and adjusted operating losses at £14.3m. The release provides more information on the progress of live US and UK operations towards break even. The company is now executing on the mobile money vision, whilst the £42m net cash on the balance sheet should help it maintain its early mover advantage as it invests in new ventures and in product R&D.
Norcon experiences slight revenue weakness
Norcon plc | Published on 13/08/2010Norcon, the telecoms consultancy and systems integrator, has announced that first half revenues have been slightly weaker than expected, due to delayed contract timings, with revenues 5% below management expectations. However, the company remains upbeat about prospects, given a strong order book, and looming industry spend on LTE. We spoke briefly to CFO Marne Martin this morning, who was upbeat despite the slight revenue under-performance. The company is experiencing solid ongoing work from existing clients, at continued good margins, but is seeing longer than expected conversion of new prospects to sales. However, with most mobile operators worldwide now either in the processing of planning for LTE, or starting to evaluate strategies, and a few actually rolling out networks, the prospects for Norcon remain solid. The company remains on the lookout for M&A opportunities, and Marne noted that the M&A environment is becoming more attractive for buyers. Due to the slight revenue shortfall, we will revisit our forecasts in the next few days.