Cyber Digital Highlights Price Target of $3.75 Per Share.Business Editors NEW YORK--(BUSINESS WIRE)--June 17, 2002 Investrend Analyst J. Damien Kolb Issued a BUY Recommendation on Cyber Digital Cyber Digital, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYBD), a leading manufacturer and software developer of wireless and landline digital voice and Internet systems, highlights 12-month price target of $3.75 per share and BUY rating initiated by Investrend Research. In an April 25, 2002 independent analyst report, Investrend analyst J. Damien Kolb wrote: "A price-to-sales ratio of 1.0x for CYBD implies an equity value of approximately $4.08 per share at fiscal year end 2003. With projected net income for fiscal year 2002 of approximately $0.31 per share, or $6.54 million, at a 10x price-to-earnings (P/E P/E See: Price/earnings ratio ) ratio, CYBD is currently valued with a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $65 million, or $3.11 per share. A forward price-to-free-cash-flow (P/FCF) multiple of 5x values CYBD at $4.00 per share. Recent venture capital financings of companies in the broadband data and voice communications space suggest a per share equity value for CYBD of approximately $3.78. Based upon such empirical data, coverage of CYBD is initiated with a BUY rating and a 12-month price target of $3.75 per share." Recently, Cyber Digital received several contracts and commitments from federal government, local state governments and a private telephone operator, in Nigeria. Cyber Digital expects to generate revenue of $79.6 million from the sale of 43,500 telephone lines from calendar year 2002 through 2003. Please visit www.cyberdigitalinc.com for a detailed analyst report from Investrend Research. About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switching systems Switching systems (communications) The assemblies of switching and control devices provided so that any station in a communications system may be connected as desired with any other station. for network operators worldwide. Cyber Digital is also a leading developer and provider of an array of ultra-high performance Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) infrastructure software and systems such as routers, gateways, firewalls and servers for next-generation local-loop digital broadband and virtual private network (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ) applications. This press release contains forward-looking statements, pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially. The risks and uncertainties are detailed from time to time in Cyber Digital's SEC reports and filings. |
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