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Sapiens International Corporation N.V. Message Board

fujigrower 2 posts  |  Last Activity: Aug 14, 2014 11:05 PM Member since: Jul 11, 1998
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  • This long time BSQR shareholder was impressive and appreciative of the Q2 results.

    Jerry Chase joined the BSQR leadership team only 13 months ago. He was appointed to the Board in July of 2013, interim CEO in September and permanent CEO in late February this year.

    As a former Marine Corp officer and pilot Chase arrived with a reputation of someone not afraid to take action when needed. He has delivered.

    Rather than chasing new business initiatives, geographies, acquisitions and customers, Chase pledged to prioritize on fundamental, successful execution with existing products, services and customers. There is a massive opportunity simply working with existing blue chip customers like Microsoft, Google, Coke, Intel, etc. The company's renewed focus and more consistent execution was evident in the Q2 financials and cc remarks.

    Expanding work with Google on Project Tango is one example. 24% service revenues (or 31% including the Japanese contract) is another.

    BSquare appears to be regaining confidence and momentum both inside and outside the company. The projected GAP profit for Q3 is a positive indicator. With a second handset contract with a Japanese customer on schedule for completion and revenue recognition in Q4, BSquare has a good shot at finishing 2014 with three consecutive quarters of GAP profitability.

    Also encouraging is Chase seems to be developing a solid, synergistic leadership team with Scott Caldwell, Mark Whiteside, Dave Wagstaff and Scott Caldwell. Mr. Caldwell and his 3rd party software team are finally receiving some long over-due recognition.

    Since arriving Jerry Chase has not hyped anything. Step-by-step. He recognizes this is still a turnaround-in-progress. But with a $12 million Enterprise Value and $90 million revenue stream, a revenue ramp and return to profitability, at $3 shares appear to be cheap.

    Congratulations to the entire BSQR team on some impressive turnaround progress. Nicely done.


  • fujigrower by fujigrower Jun 30, 2014 11:26 AM Flag

    BSquare's 3rd party software reseller agreement with MicroSoft has long been a key foundation of the company's revenue stream and profitability. Over the past decade the company has consistently generated profits with their 3rd party software division, broken even on engineering services and lost money on the proprietary software.

    The MicroSoft reseller agreement being renewed again is a positive step in the Jerry Chase led turnaround. Latin America and Africa being added to their territory is also positive. The rapid growth most Latin American countries are experiencing is an opportunity for BSQR in both 3rd Party and Engineering Services.

    In the conference call Mr. Chase projected generating a GAP profit in Q2. That demonstration of "blocking and tackling" execution will be another important step in generating renewed confidence within and outside the company.

    Good luck to everyone.


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