BlueStone Capital Partners Announces Investment Opinion on Litronic, Inc.NEW YORK--(BUSINESS WIRE)--Aug. 17, 1999-- BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners, L.P. reiterates its STRONG BUY recommendation for Litronic, Inc. Senior Analyst Steven Jaworski at BlueStone Capital Partners, L.P. reiterates his STRONG BUY rating of Litronic, Inc. and 12-month price target of $15.50 after better than expected Q1 results. Litronic, Inc. is a growing provider of cryptographic-based information security solutions and an IT systems consultant/implementer. -- Q2 results were better than expected. LTNX reported revenues of $2.7 million, a pre-tax loss of $1.8 million and a loss per share of $0.31. These results include two weeks of contributions from Pulsar, which was acquired on June 15. Our "as reported" estimate was for $1.5 million in revenues and a pre-tax loss $2.1 million. -- The company is about to announce a strategic relationship with GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) CyberTrust, the Federal government's certificate authority, and a major defense contractor Noun 1. defense contractor - a contractor concerned with the development and manufacture of systems of defense armed forces, armed services, military, military machine, war machine - the military forces of a nation; "their military is the largest in the region"; . This coupled with the introduction of the Maestro (1) (Maestro NT) An earlier name for scheduling software for Windows NT from Tivoli Systems, Inc. When IBM acquired Tivoli in 1996, the program was renamed IBM Tivoli Workload Scheduler. software application plus the Forte 32-bit "smart card" should allow LTNX to garner a sizable share of the government's network security business. -- Market place expected to see significant growth. The encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. and public key infrastructure (PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of ) markets are forecasted to grow at CAGRs of 59% and 124%, respectively, into the foreseeable future and are expected to represent a $3 billion opportunity by 2002. -- Maintaining estimates. We expect the company to report losses of $1.00 in FY99 and $0.55 in FY2000 and be profitable thereafter. -- Reiterating our STRONG BUY and price target of $15.50. At current price levels, LTNX represents a compelling investment for growth oriented investors. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to emerging growth and medium size companies worldwide. BlueStone Capital assists Clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
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