Hello Friends! It is a quiet Saturday afternoon around here and a good time to post on the BLOG about how we have been overall been doing. I try this to allow for some accountability. I post lots of ideas....but in order to know whether they make sense or not we REALLY need to follow-up and check!
The week of July 7, 2003, was not a busy one for my BLOG. In fact, I only posted two selections: FindWhat.com (FWHT) on 7/7/03 at $22.16, and WebSense (WBSN) on 7/8/03 at $20.26. If you have been reading my other entries, you will realize that I have FINALLY found room and the opportunity to purchase some WBSN in my trading account. I have never owned any FWHT.
Since posting FWHY on Bob's Advice at $22.16, the stock has declined slightly and closed yesterday, 1/30/04, at $19.15, for a loss of $(3.01) or (13.6)%. Overall, the business situation for FindWhat appears to be intact. On December 10, 2003, FWHT announced earnings projections for 2003. They indicated that revenue in 2003 should be over $71.5 million, and increase of 67% over 2002 revenue of $42.8 million. They also announced that fourth quarter 2003 revenue to be at least $20.3 million, a 14% sequential increase in revenue and a year-over-year increase of 52% versus fourth quarter 2002.
I posted Websense on the blog on 7/8/03 at $20.26. WBSN has outperformed FWHT and closed on 1/30/04 at $32.90 for a nice gain of $12.64 or 62.4%. WBSN announced a record fourth quarter earnings report on 1/28/04. Revenue was a record $22.7 million, a 31% increase from the fourth quarter of 2002 and net income was $4.5 million or $.19/share, compared to $6.5 million or $.28/share, which included a tax benefit of $1.4 million. So revenue was solid but earnings were a bit soft relative to the prior year...but apparently the sharp increase in deferred revenue was enough to satisfy the street and the stock moved ahead.
Anyhow, with just two stocks, we had one with a loss of (13.6)%, and one with a big gain of 62.4% for an average performance of a substantial gain of 24.25%.
Thanks again for stopping by! Please remember to do your own due diligence before acting on any stock picks on this website and please consult with your investment advisor as I am an amateur investor and there are professionals out there that can advise you whether individual stock selections are appropriate for you!
If you have any comments, questions, or words of encouragement, please feel free to post them right here or email me at bobsadviceforstocks@lycos.com
Bob