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Wednesday, 2 July 2003
July 2, 2003 Digital River (DRIV)
O.K. this one I do own. I purchased some today prior to making this post and have owned some elsewhere in a managed account. Let me share with you the numbers, and you may wish to own some too!

Digital River (DRIV), per CNN.Money, "provides comprehensive electronic commerce outsourcing solutions to software publishers and online retailers." I know that I recently downloaded a Norton Antivirus 2003 program online...and it was Digital River that provided the software to do this.

DRIV is having a GREAT day...and that is how we came across it. Trading at $21.69, it is up $2.83 or 15.01% for the day. The p/e is a bit pricey at 41.71, although Yahoo shows the same stock with a p/e of 78.58....so not exactly a screaming value play. The market cap is a small $612.6 Million.

Yahoo reports 28.3 million shares outstanding with 25.2 million float.

Per CBSmarketwatch.com, on April 23, 2003, DRIV reported the first quarter results for the quarter ending March 31, 2003. Revenue was $24.6 million a 36% increase over last year's revenue of $18.1 million. Sequentially, from the prior quarter, revenue increased 14% from the $21.5 million in the fourth quarter of last year.

Net income this quarter was $4.0 million or $.13/share compared to a net LOSS of $3.5 million last year or ($.13)/share last year.

Morningstar.com shows the EXCELLENT revenue progression of this company starting at a miniscule $3 million in 1998, going to $15 million in 1999, $31 million in 2000, $58 million in 2001, $78 million in 2002, and extrapolating from the present quarter should be nearly $100 million in 2003.

Free cash flow has improved annually from a NEGATIVE $26 million in 2000 and Negative $5 million in 2001, to POSITIVE $12 million in 2002 and $19 million for the trailing twelve months.

The company has LOADS of cash with $49.2 million in cash which is more than the $43.3 million in current liabilities. Morningstar reports NO long-term liabilities.

Like I already said, I LIKE this stock A LOT....and just purchased some TODAY. There isn't much not to like except the valuation is a bit steep. But this is a company JUST turning profitable and the p/e should drop quickly as revenues and earnings grow. At least I hope so! If it hits the 8% loss, it will be sold like all the others.

Have a great day and evening....and best wishes for the Fourth!

Bob


Posted by bobsadviceforstocks at 2:05 PM CDT | Post Comment | Permalink

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