Zanett Inc. (NASDAQ: ZANE) provides customized information systems. The company offers a wide variety of offerings categorized by function, industry and solution. Providing end to end e-business systems, business systems; application development; project management; business analysis; architecture design; package customization; testing and quality assurance, and implementation management; and implementation of enterprise resource planning, supply chain management, and customer relationship management systems as well as voice and data networking integration, the company has a wide variety of revenue stream and knowledge capital.
ZANE has 204 employees and a Market Cap of $20 million. Today, the company announced it had closed over $12.6 million in business from 37 different customers. Over the past year the Zanett Inc. has solidified $29.7 million in business. About a month ago, the company reported quarter one results noting an increase in revenue, a strong pipeline and reduced debt. Revenue increased 12% to $10.7 million in comparison to the fourth quarter of 2009 (9.6 million). $135 million was reported in the pipeline, unweighted and $800,000 of debt was paid.
ZANE is currently trading at $2.35 up 4.94 or 66% on a volume of 3,273,439 shares upon release of the quarterly results. In March the company was trading at $.26 but jumped drastically over three dollars on April 6th. That day, I had actually written about the jump in stock price, which you can find here.
On that day Zanett had announced the signing of a record $17.1 million dollars worth of contracts in the quarter comprised of 57 different customers with one contract valued at almost $4 million. Judging from past trends, the company jumps on contract sales. Historically, ZANE has had some issues with NASDAQ compliance of remaining over a dollar. As long as the company continues to sign contracts and close business there should not be any problem with staying above a dollar and reaching profitability.
To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1848/post/zanett-inc-up-70-with-297-million-in-confirmed-business-nasdaq-zane
Disclosure: no positions