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Wednesday, 17 December 2003
December 17, 2003 Overland Storage (OVRL)
Hello Friends! I was going to check-out for the evening....but NO I had to take ONE MORE LOOK at those big percentage gainers...I had completely skipped over this one earlier. I looked at the name and figured for sure that this was some sort of storage unit partnership thing....but I was WRONG about that! ANYHOW, Overland Storage (OVRL) had a GREAT day today, closing at $17.889, up $1.519 or 9.28% on the day. As you might have guessed, I do NOT own any shares of this stock. As always, I must remind you to consult with your investment advisor before making ANY decisions based on posts on this website as they may or may not be suitable for you and may or may not be profitable!

Back to Overland...according to money.cnn.com, Overland "...designs, develops, manufactures, markets and supports magnetic tape data storage systems used by businesses for high performance network backup, archival solutions and data interchange." And no, they do not sell storage units for your family heirlooms!

Looking at Yahoo.com, I found the latest quarterly results that were released on October 22, 2003 for the quarter ended September 30, 2003...as picked up from PRNewswire-FirstCall: Revenue for the quarter "climbed 64 percent to $56.6 million compared with revenue of $34.5 million in the year earlier quarter." Net income on a GAAP basis was $2.2 million or $.16/diluted share compared to a net loss of ($557,000) or ($.05)/share last year.

Looking at Morningstar.com for some more information on this company I found on "5-Yr Restated" financials that revenue has grown from $92 million in 1999, to $123 million in 2000, $156 million in 2001, $163 million in 2002, and $196 million in 2003. Extrapolating the latest quarter into 2004 should get us somewhere north of $220 million in revenue for 2004.

Except for a dip in 2000, revenue has grown steadily from $.37/share in 1999 to $.54/share in 2003. Free cash flow has recently turned positive from ($7) million in 2001, $9 million in 2002 and $8 million in 2003. The balance sheet is beautiful for this company. As reported on Morningstar.com, OVRL has $55.0 million in cash, more than enough to cover both the current liabilities which stand at $28.6 million and the long-term liabilities of $9.0 million. In addition, they have $57.9 million of other current assets.

Looking at "Key Statistics" on the Yahoo.com financial website, we find that the Market Cap is a small $237.98 million. The trailing p/e is very nice at 24.34 and the PEG is EXCELLENT at 1.07. The price/sales is also WONDERFUL at 1.00. (I may talk myself into buying some shares of this stock yet!).

Yahoo reports 13.3 million shares outstanding with 10.80 million of them that float. Currently, as of 11/10/03, there are only 350,000 shares out short representing 1.241 trading days or only 3.24% of the float.

No dividend is paid and no stock split is reported on Yahoo.

In summary, this is a very nice stock except maybe for its small size...if that is a problem for you....The p/e is relatively cheap in the low 20's, the PEG is at 1.0, the Price/sales at 1.0...so valuation is excellent. They have a consistent record of revenue growth which is continuing in the latest reported quarter....and the balance sheet is PRISTINE....I love that word! So what is there NOT to like?

Anyhow, I hope you enjoyed this post and spend some time exploring the website where I have been posted lots of interesting stocks for the past six months.
I always heard if you could do something for at least six weeks that you could depend on that habit continuing....I wonder what they would say about six months?

Regards to ALL!

Bob


Posted by bobsadviceforstocks at 5:30 PM CST | Post Comment | View Comments (2) | Permalink

Thursday, 18 December 2003 - 9:29 PM CST

Name: Slava B.

Hey :-) Nice website/comments. Been reading them for the past month or two (whenever i get some free time). Looks like you got your strategy all worked out... I am looking more into the short term investment strategy, say 1 day or less investment. :-) Just researching now, trying to figure out whats going on, will probably use your strategy though, seems like it is a lot less stressful. Anyways, just wanted to let you know that someone is reading what you write and does appriciate your thoughts. Later man :-) and good luck
P.S. Hm, I was wondering, what online broker do you use?

Monday, 22 December 2003 - 5:37 PM CST

Name: Bob
Home Page: http://bobsadviceforstocks.tripod.com

Hey thanks for the comment. I have been using Fidelity just because I am conservative by nature and like the large brokerage houses. Since I am now quite an active trader, I am down to $8/transaction which was a recent improvement. This works well for me! Thanks again for the encouragement and stopping by. Please come back often and visit frequently!

Bob

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