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Net 1 Ueps Technologies Inc. Message Board

  • detmarlowe detmarlowe Aug 28, 2014 9:15 PM Flag

    Ok I will chime in to keep tysons from getting lonely.

    These were excellent results. I just recently jumped into this stock and boy am I glad I did. This is not just an ordinary beat, it is a monster beat. Beating the revenue estimate by 30% does not happen often. Neither does beating the earnings estimate by 200%!

    No doubt, this is a great company and they have found themselves a great field of business to be in. There are billions of poor people in the world, and recently the cell phone manufacturers have been able to build very capable and very cheap cell phones suitable for the poor. Facilitating the ability of poor people to pay their phone and electric bills is going to be an important and fast growing opportunity.

    That solar battery lamp with wifi and a USB charger is a great idea too.

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    • Thanks, I feel better now!!!!!!!!!!

      I'll be listening to the conf call tomorrow....

      I was reluctant to buy my shares cause of the lawsuit, which alleges UEPS didn't win the most recent SASSA contract fairly, but then I read through the South African Court's official papers on the case, and I came away thinking that the lawsuit was total BALONEY - sour grapes by the firm that did not win - so I went ahead and bought some shares. Heck, I don't even think the suit has been settled. It was only last month, when I did my research and bought my shares. And, I don't see any headlines concerning "CASE CLOSED".

      • 1 Reply to tysons1
      • Regarding the lawsuit. The court decided that the social security administration did not use the proper process to ensure that they give preference to businesses owned by black people. The court told the administration that they can restart the process of deciding who to award a contract to. However, it seems that they were not required to restart the process, but they could if they wanted to. Here are some things to note about this:

        1) If the social security actually restarts this process, it will take a while probably at least a year.

        2) If it does restart, it does not necessarily mean that UEPS will lose. All it means is that the administration has to make sure they follow the exact process described by law. They may still decide to award UEPS. In many of these cases the same contractor wins, because administrators do not like courts to telling them what to do.

        3). This quarter UEPS let some black people buy a bunch of shares at a discount, so this should hopefully be sufficient to satisfy the legal requirements.

        4). UEPS has done really well with this contract. They use technology that prevents fraud and have saved the government hundreds of millions of dollars. In fact they have saved so much money that the money they saved is more than their fees. Thus, the government is actually making money by hiring UEPS. The social security administration now finds themselves with hundreds of millions of extra money and they would certainly prefer to keep the money coming in. If they give the contract to someone else, they would not have the anti-fraud technology.

        So in my opinion, it is likely although not guaranteed that UEPS will keep this contract.

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