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  • cindy_rayong cindy_rayong Feb 6, 2007 2:33 AM Flag




    CSTL will report 4Q and FY 2006 earnings results in less than 10 days. CSTL could easily fly past $4 after earnings. There are only 1.4M shares on the float and the total outstanding shares amount to only 4.1M.

    Castelle (Nasdaq: CSTL) recently announced several major OEM agreements with well known companies like Sharp, Fujitsu, and Ricoh. This year, CSTL is now the 4th largest fax server supplier in the world. Two tears ago it was ranked 9th.

    With $1.7/share cash, ZERO debt, many new Vista and Windows 2007 compatible products, recent expansion into China/Asia, heavy insider buying, and a new stock-buyback program, CSTL is a real bargain under $5.


    - FLOAT: 1.4M shares

    - Outstanding shares: 4M

    - Market cap: $14M

    - P/S ratio: 0.9

    - Heavy insider buying. Last insider sales were in 2005

    - $1.7/share CASH. Cash on hand has grown steadily the last 8 quarters.


    - STOCK BUYBACK PROGRAM ESTABLISHED IN 3Q 2006.... $1M approved..or about 300K shares.

    - Dan Zeff (a big investor) has been accumulating shares. He now owns 25% of this company. Look at his past performance, he hits lots of home runs. He has been buying in the high $2 to the low $3 range throughout 2006. He hasn't sold any shares. See his 13D filings on the SEC website.

    - Sales to South American countries have been growing very well. China is now entering the picture as well.

    - 18 quarters of positive operating profits (ignoring taxes).

    - Low forward PE, and stock price close to book value.

    - Monthly chart shows a nice cup & handle has formed. Handle base looks ready for breakout.

    Strategic Partnerships to Support New Growth Initiatives

    Last month CSTL gained over 30% after it announced that its FaxPress(TM) family of network fax servers provide a scan in, fax out solution for Sharp Open Systems Architecture (Sharp OSA)-enabled multifunction devices.

    Integrating Castelle's FaxPress fax server with a Sharp multifunction device provides copier, scanner and multifunction users with immediate access to an intuitive, user-friendly fax interface.

    Castelle also announced that FaxPress Premier has been approved by Fujitsu Limited as an "Interstage� Enabled" product in Japan. CSTL has also announced the integration of its fax servers with Ricoh's new GlobalScan 2.0 software to provide a complete fax solution for all electronic and paper-based documents.

    On December 5, 2006, CSTL announced that it continues to move up to 4th place within the top ten listing of fax server suppliers according to the recently issued 'Computer-Based Fax Markets, 2005-2010' report by independent research firm, Davidson Consulting.

    According to the report, the fax server market is expected to grow from $270 million in 2005 to $400 million by 2010, which is an annual growth rate of 8.2%.

    �We are in the midst of a number of new development and marketing initiatives,� said Scott McDonald, President and CEO of Castelle. �Castelle recently announced that it will enter into the fax-over-IP market with a new generation of network fax servers that support IP faxing, and is also preparing for a launch of its enterprise fax servers this month in Mainland China. In addition, Castelle�s FaxPress Premier� fax servers were named a winner in the Fax Gateway category of the 2006 Windows IT Pro Readers� Choice Awards.

    As of September 30, 2006, Castelle had cash and cash equivalents totaling $7.40 million, or $1.66 per average shares outstanding (diluted) for the third quarter.

    Castelle�s Board of Directors initiated a stock buy back program in the third quarter of fiscal 2006 that authorizes the Company to spend up to $1 million to buy back common shares, as the Company believes that the current share price does not accurately reflect the Company�s long-term growth prospects

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