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The Priceline Group Inc. Message Board

  • bbajf591 bbajf591 Apr 18, 2013 12:09 AM Flag

    Ready to Explode

    Research Concurrent (CCUR) it has the world's largest video-on-demand (VOD) market share and is now capturing a huge share of the booming multi-screen video delivery market! CCUR dipped slightly on Wednesday to $6.75 after making a huge gain on Tuesday and has only 8.72mm shares outstanding. CCUR is sitting on $24.6mm in cash with no debt. CCUR has an enterprise value of only $34.26mm, which is just 0.52X its latest annualized revenues of $66.4mm and 3X its trailing nine month cash flow from operations annualized.

    Ericsson (ERIC) announced last week that they are paying Microsoft (MSFT) nearly $200mm to acquire their Mediaroom multi-screen IPTV software, which has a multi-screen reach of 11 million pay-TV households and will increase ERIC's multi-screen reach to 16 million households. CCUR's MediaHawk multi-screen software is superior to Mediaroom and CCUR has already signed multi-screen deals with the #1 largest cable TV companies in Japan, Germany, and the UK. These three huge CCUR multi-screen clients will give CCUR an initial multi-screen reach of 14.8 million subscribers, which will be the second largest in the industry!

    CCUR spent $15mm just to acquire their Media Data Intelligence business, which tracks the viewing behavior of 35mm pay-TV subscribers and holds a 35% market share in the markets it serves. CCUR also has a "real-time" ultra high performance computer technology business with annualized revenue of $27.6mm and 4 of the world's top 5 defense contractors as clients. This business is probably worth $25-30mm on its own.

    CCUR's video business with $33.8mm in annualized revenue is not receiving any value at CCUR's current share price! CCUR is extremely profitable with its EPS doubling the past two quarters in a row! Major consolidation has been taking place in this space and a lot more is expected throughout 2013.

 
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