Fugu
9 years ago
SofTech Announces Significant Contract Win
LOWELL, Mass.--(BUSINESS WIRE)-- SofTech, Inc. (OTCQB:SOFT), a leading provider of enterprise technology solutions and consultancy services, announced today that it has received a major contract from Finmeccanica-AgustaWestland, one of the leading rotorcraft manufacturers worldwide. AgustaWestland is a subsidiary of Finmeccanica, a company that generated more than Euro 14.6 billion of revenue in its prior fiscal year.
This significant contract award is the result of a two-year effort which included a successful pilot program that was developed by SofTech and AgustaWestland utilizing best in class technologies and expertise to improve Advanced Configuration Management methodology on AgustaWestland’s existing processes for managing common parts across product platforms. SofTech implemented a solution utilizing Aras Innovator plus technologies from T-Systems and Kisters, together with their professional services teams. This solution highlighted the potential to dramatically improve AgustaWestland’s design to delivery process; with this award, SofTech will build out the full solution.
The AgustaWestland Family concept features inherent growth capability with each product within the Family set to benefit from the latest innovations installed into the other models. AgustaWestland will capitalize on this new philosophy and commonalities for new developments. AgustaWestland will apply the same approach to new commercial products as it expands the Family range in the future. This implementation will support the AgustaWestland Family initiative, while continuing the use of their legacy systems, with greatly improving efficiency. A successful completion of this phase of the contract will likely result in a much larger rollout of the solution at AgustaWestland over time.
Joe Mullaney, president of SofTech, said, “As we implement this methodology at AgustaWestland we will begin to promote it to other enterprises that have been looking into modern solutions to more effectively manage their bill of materials. The inflexibility and architecture of some legacy systems used throughout the aerospace and automotive industries contribute to the problem we are solving for AgustaWestland. We expect that this will be a significant growth opportunity for SofTech.”
About SofTech
SofTech solutions are proven to optimize performance and deliver measurable business results. Our professional services group leverages business and technical expertise to develop value-driven, creative solutions resulting in long-standing client relationships.
Over 100,000 users benefit from SofTech solutions, including ACCO Brands Corporation, Esterline CMC Electronics, Goodrich, Honeywell and the U.S. Army. Headquartered in Lowell, Massachusetts, SofTech (www.softech.com) has locations and distribution partners in North America, Europe, and Asia.
SofTech is a registered trademark of SofTech, Inc. All other products or company references are the property of their respective holders.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160212005688r1&sid=acqr7&distro=nx&lang=en
View source version on businesswire.com: http://www.businesswire.com/news/home/20160212005688/en/
SofTech, Inc.
Sarah Garagliano, 978-513-2712
Product Marketing
sgaragliano@softech.com
Source: SofTech, Inc.
© Copyright Business Wire
Madkins
11 years ago
SofTech, Inc. (OTCQB: SOFT), a proven provider of Product
Lifecycle Management (PLM) solutions today announced its second quarter
fiscal year 2014 operating results. Revenue for the three months ended
November 30, 2013 was approximately $1.41 million as compared to
approximately $1.77 million for the same period in the prior fiscal
year. Net income (loss) for the current quarter was about ($44,000) or
($.05) per share compared to net income of $252,000 or $.25 per share
for the same period in the prior fiscal year. The sale of the Company’s
CADRA product line was completed on October 18, 2013, which accounted
for most of the revenue decline.
EBITDA for current quarter was about $3.37 million as compared to about
$369,000 for the same period in fiscal year 2013. The EBITDA in the
current quarter was generated from the sale of the aforementioned CADRA
product line.
As disclosed in the Form 10-Q filed with the Securities and Exchange
Commission and in our Form 8-K filed on December 11, 2013, subsequent to
the end of the fiscal quarter, the Company entered into an agreement
with its lender to amend its loan agreement pursuant to which a portion
of the cash generated from the CADRA product line sale was used to
reduce the principal of the loan by $1.7 million.
“The current management team purchased a controlling equity interest in
the business in March 2011 when the Company was facing what appeared to
be insurmountable issues on multiple fronts,” said Joe Mullaney,
SofTech’s CEO. “The sale of the CADRA product line during the current
quarter and the resulting improved liquidity represents a transformative
event for the shareholders. The management team is committed to
continuing its efforts to carefully and systematically explore
alternatives for maximizing shareholder value,” he added.
Mullaney continued: “Since March 2011 we have completed the following
actions that we believe have enhanced shareholder value:
Sold the AMT product line in May 2011;
Sold the CADRA product line in October 2013;
Sold five patents in the PLM space to Acacia Research Group and
retained a 30% interest in future recoveries in two transactions in
early fiscal 2013;
Filed or acquired four new patent applications;
Developed and launched the Connector technology platform that provides
a bi-directional bridge between third party CAD and PLM technologies;
Entered into partnership agreements with Aras and SpaceClaim;
Increased our market opportunity for our professional services
resulting in profitable revenue growth for our Consulting business
group; and
Repurchased approximately 16% of our outstanding shares.
The above actions have significantly increased our liquidity, reduced
our debt and our financial risk. We have a fantastic customer base,
solid recurring revenue, future cash flow from the CADRA product line
both as a reseller and from contingent royalty payments, new products
coming on-line and tax assets with a value in excess of $20 million. We
will continue to strive to unlock the value of these assets for the
benefit of our shareholders.”
The Company also announced that it entered into a five-year office lease
for about 9,100 square feet for its new corporate headquarters at 650
Suffolk Street, Lowell, MA. The office is part of the historic
Wannalancit Mills, a 19th century textile mill located
alongside the Northern Canal in Lowell. “The 14 foot ceilings, high
windows and brick-and-beam design were very appealing,” said Bob
Anthonyson, Vice President, Business Development. “The close proximity
to downtown Lowell and the University of Massachusetts Lowell Campus are
added benefits that we hope to take advantage of in the future,” he
added.
FINANCIAL STATEMENTS
The Statements of Operations for the three and six-month periods ended
November 30, 2013 compared to the same period in the prior fiscal year
are presented below. A reconciliation of Net income (loss) to EBITDA, a
non-GAAP financial measure, is also provided.
Statements of Operations(in thousands, except % and per share data)For the three months endedNov. 30,Nov. 30,Change20132012$%
Product revenue
$
376
$
478
$
(102
)
-21.3
%
Service revenue
1,038
1,194
(156
)
-13.1
%
Royalties on sale of patents
-
100
(100
)
-100.0
%
Total revenue
1,414
1,772
(358
)
-20.2
%
Cost of sales
292
347
(55
)
-15.9
%
Gross margin
1,122
1,425
(303
)
-21.3
%
Gross margin %
79.3
%
80.4
%
R
tripil7z
11 years ago
$SOFT $3.90
Another email update .in this email there is a mention of news in a sale that's 3 times more the MARKETCAP !!!!!!!!!!!!!!!!!!!!!!
Another SOFT email (*)
An Innovative Tech Company That Recently Sold Their
CADRA Product Line For AnAggregated
Consideration Up To $3.95 Million
***100% Short-Term BUY SIGNALS***
"According to barchart.com"
New Potential High Flier: SOFT
KEY METRICS
SOFT - OTCBB...............@4.00
52-Week Range..............@0.70 - 4.00
Shares Outstanding.......875,135
Market Value..................$1,750,270
Dear Reader,
ATTENTION: Before we go into this profile I want to remind EVERYONE One Very Important FACT... We are the Big Dogs Bringing you SOFT. Other small fries might tag along and claim credit for this profile. Lets put it this way I am Tiger Woods and they're still playing miniature golf...
So if the consultants who monitor this industry, are gullible enough to believe that a small fry newsletter can bring you a pick as Massive as SOFT could be, its time to pick up your skirt, grab your balls, get your facts straight and lets make some money
SOFT has a Market-Cap of $1.75M, However they will receive up to $3.95M for the sale of one of their product lines!
Does this even make sense?
You are now laying your eyes on a company that received double what their market valuation is on just ONE SALE!
"For the first time since 1998, the Company's cash position exceeds its outstanding bank debt," - John Mullaney, SofTech's (SOFT) CEO. "Our significantly improved financial position will allow us to pursue additional initiatives to increase shareholder value. The proxy statement filed with the SEC seeking shareholder approval for the CADRA Sale details these initiatives and we are very excited about our prospects for profitable revenue growth in the future,"
Click Here To Read Full Article
***SOFT could Explode Tomorrow showing everyone what
TRIPLE DIGIT GAINS Really Looks Like***
I mean any CEO is going to try put out positive news about their company, but when John Mullaney comes out with Positive News you better believe it
Why?
Because when John Mullaney was CEO back in 2001 the company had seen 3 years of negative cash flow
John Mullaney stepped in and implemented "The Turnaround Strategy" that ended this mess that cost SOFT around $10M
But not only that his plan resulted in almost 10 years of positive cash flow
He then turned around Boston Communication Group which was another troubled company, anyways...
This guy might as well be a Superhero, he saved people jobs and helped under performing companies show their best colors
Anyway you get my point, this guy really knows how to rid a company of problems and make every dollar work!
Do you want to hear about the CFO? Probably not... Another Smarty Pants
Barchart.com (Third Party Website) - Awards
SOFT 13 BUY INDICATORS
Business Summary
SofTech, Inc. develops, markets, distributes, and supports computer software solutions for the product lifecycle management (PLM) industry primarily in North America, Europe, and Asia. Its computer software solutions include software technology offerings for computer aided design (CAD), product data management, and collaboration technologies. The company offers ProductCenter, a collaborative PLM solution, which delivers a combination of document management, design integration, configuration control, change management, bill of materials management, and integration capability with other enterprise-wide systems; enables secure management of product information; allows engineers and the design chain to manage, share, modify, and track product data and documents in the product development lifecycle; supports engineering change management and bill of materials management for automating business processes; and enables integration with other business applications, such as enterprise resource planning, supply chain management, and customer relationship management for data exchange across the product lifecycle. It markets and distributes its products and services primarily through a direct sales force and the company’s service organization, as well as through resellers. SofTech, Inc. was founded in 1969 and is headquartered in Lowell, Massachusetts
Can SOFT turn $5,000 into $13,568 Tomorrow?
7 Solid Reasons to Pull up SOFT NOW:
Reason #1: SOFT is realizing increasing volume
Reason #2: SOFT has started a NEW UPTREND
Reason #3: SOFT is in an Industry where companies can expect Explosive Growth
Reason #4: CEO Joe Mullaney turned SOFT around through 2001 - 2006
Reason #5: SOFT could potentially see TRIPLE DIGIT GAINS TOMORROW
Reason #6: The similarities with my last profile that moved over +65.8% is remarkable
Reason #7: SOFT just released Major News on Huge Sale
Let me shoot straight with you - If I was allowed to, I would pull this up right away and start using this information to benefit me in any way possible. Not only me - my friends and anyone else I know
This will make you look like a GENIUS
I couldn't be more confident about a profile like I am about SOFT Tomorrow
I want you to do me a favor...
I want you to write me Friday at 4:00pm ET telling me if you took advantage of SOFT or not
I hope you DO NOT sit on the sidelines on this one - writing me a message at 4pm full of regret!
Take advantage of this! Help others around you also and come of looking like a STUD
SOFT is the Beginning of a Amazing 2014 Filled with
MASSIVE Potential WINNERS!
STOP what you are doing and pull up SOFT now and do your own due diligence and research
Remember you Don't Make Money Passing - The only people I see making money passing are NFL quarterbacks and I don't see a number on your back!
Sincerely,
Michael Stone
P.S. Remember my last profile moved +65.8% that day alone and people actually missed out on this opportunity - don't make the same mistakes, get prepared for SOFT!
As always do your own research on all profiles that I give. Penny stocks are risky, like most speculative investments. Always view the company websites and base your own opinion.
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