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Frontline Ltd. Message Board

  • asj48493 asj48493 Apr 16, 2013 12:23 PM Flag

    Big Breakout, Still Extremely Undervalued - Just the Beginning

    Concurrent (CCUR) beginning to breakout big - only 8.72mm o/s has $24.6mm in cash and paying huge 3.9% dividend yield. Enterprise value of only $29.12mm and CCUR paid $15mm for their Media Data Intelligence (MDI) business alone, leaving only $14.12mm in value for CCUR's two main businesses. CCUR's real-time business has 4 of the world's 5 largest defense contractors as clients with annualized revenues of $27.6mm. It's definitely worth a lot more than $14.12mm, which means CCUR's biggest business - their multi-screen video delivery solutions business is receiving no value at all!

    CCUR holds a 30% video-on-demand (VOD) market share, the largest VOD market share in the world with a reach of 50mm pay-TV subscriber households. CCUR is now rapidly growing a huge market share of the new booming multi-screen TV market. Just last week, Ericsson (ERIC) announced they are paying Microsoft (MSFT) nearly $200mm for their Mediaroom multi-screen software, mainly for MSFT's client base - which will increase ERIC's reach by 11mm pay-TV subscriber households to 16mm pay-TV subscriber households!

    CCUR has already signed multi-screen deals with the #1 largest pay-TV companies in Germany, the UK, and Japan, and these three HUGE clients have a total of 14.8mm subscribers, which will give CCUR the second largest multi-screen reach after ERIC. If ERIC paid $200mm for MSFT's multi-screen business, imagine how much CCUR's multi-screen business is worth, which has deals signed that will give it an even larger reach than MSFT had! CCUR's video business is receiving NO value at all here! It is extremely profitable with $33.8mm in annualized revenue! A valuation of $100mm would send CCUR soaring to $18.88!

 
FRO
1.29-0.10(-7.19%)Sep 22 4:00 PMEDT

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