DJSP / DJSPW -- sorry guys, missed this earlier:
PLANTATION, Fla., March 11 /PRNewswire-FirstCall/ -- DJSP Enterprises, Inc., (<?XML:NAMESPACE PREFIX = YGG /><YGG:ENTITY id=t1 ref="#GmC58xjr3BG13Jl9XWfsEA">Nasdaq</YGG:ENTITY>:DJSP - News) one of the largest providers of processing services for the mortgage and real estate industries in the United States, announced today that it will conduct a conference call at 8:30 a.m. Eastern Time on Friday, March 12, 2010, to discuss the fourth quarter and year end 2009 results.
<!-- Article Related Media -->The Company plans to make an earnings announcement after the market close on Thursday, March 11, 2010.
To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1-877-941-2069. International callers should dial 1-480-629-9713. When prompted by the operator, mention conference ID 4262064.
PLANTATION, Fla., March 11 /PRNewswire-FirstCall/ -- DJSP Enterprises, Inc., (<?XML:NAMESPACE PREFIX = YGG /><YGG:ENTITY id=t1 ref="#GmC58xjr3BG13Jl9XWfsEA">Nasdaq</YGG:ENTITY>:DJSP - News) one of the largest providers of processing services for the mortgage and real estate industries in the United States, announced today that it will conduct a conference call at 8:30 a.m. Eastern Time on Friday, March 12, 2010, to discuss the fourth quarter and year end 2009 results.
<!-- Article Related Media -->The Company plans to make an earnings announcement after the market close on Thursday, March 11, 2010.
To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1-877-941-2069. International callers should dial 1-480-629-9713. When prompted by the operator, mention conference ID 4262064.
It just posted on Scottrade.
DJSP Enterprises, Inc. Reports Revenue of $260.3 Million and Adjusted Net Income of $44.6 Million for 2009
8 minutes ago - Pr Newswire
Related Companies
Symbol Last %Chg
DJSP 10.50 1.55%
DJSPU 15.90 0.63%
As of 3:57 PM ET 3/11/10
DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW, DJSPU), one of the largest providers of processing services for the mortgage and real estate industries in the United States, today announced financial results for the three and 12 month periods ending December 31, 2009 for its recently acquired processing operations. The operating results discussed in this press release reflect the separate operations of the acquired business for the periods presented on an adjusted basis, each of which occurred prior to the closing of the Business Combination with Chardan 2008 China Acquisition Corp. on January 15, 2010.
Processing Operations Fourth Quarter Financial Highlights
Revenue for the quarter increased 33.3% to $70.5 million from $52.9 million in last year's comparable period. For the year 2009, revenue increased 30.7% year over year to $260.3 million.
Adjusted Net income was $12.1 million in the fourth quarter. For the 12 month period, adjusted net income was $44.6 million or $2.14* per share .
Adjusted EBITDA for the fourth quarter was $19.1 million, and for the 12 months was $69.9 million.
*Calculated using treasury stock method assuming a common share price of $9.80; Assumes 20.82 million shares outstanding; Assumes adjusted net income for year ended December 31, 2009 of $44.6 million.
Subsequent to Quarter End
Chardan 2008 China Acquisition Corp. closed its business combination with DAL Group, LLC on January 15, 2010 and changed its name to DJSP Enterprises, Inc. and its NASDAQ symbols to DJSP, DJSPU and DJSPW.
Fourth Quarter Results for Processing Operations
Net revenue from operations for the three months ended December 31, 2009 increased $17.6 million, or 33.3%, to $70.5 million from $52.9 million in last year's comparable period. The revenue improvement resulted from an increase in the number of mortgage foreclosures taking place in the Company's principal market, Florida, as well as the expansion of REO (bank-owned) activities. During the three months ended December 31, 2009, revenue from mortgage foreclosure related services, net of revenue from client reimbursements, increased by $2.5 million, or 8.5%, to $32.3 million, compared to $29.7 million for the same period last year. Our REO liquidation business, which emanates from a single customer, became an increasingly significant source of revenue during the quarter, generating $3.4 million in revenue, with approximately an 88% gross margin. Revenue for the same three months of 2008 was $1.5 million. Going forward, management intends to offer both REO closing and liquidation services to additional customers as a means of increasing revenues and profits. The remainder of the increase in revenue was due to increased client-reimbursed costs.
Adjusted net income increased to $12.1 million for the three months ended December 31, 2009 from $7.2 million for the same period in 2008.
2009 Full Year Results
Net revenue for the 12 months ended December 31, 2009 increased $61.1 million, or 30.7%, to $260.3 million from $199.2 million in last year's comparable period. The revenue improvement resulted from an increase in the number of mortgage foreclosures taking place in the Company's principal market, Florida, as well as the expansion of REO activities, which increased approximately 175% to $11.2 million compared with $4.1 million in the same period in 2008. Revenues from mortgage foreclosure related services, net of revenue from client reimbursements, increased by $14.3 million, or 13.4%, to $121.2 million, compared to $106.9 million for the same period last year. The remainder of the increase in revenue reflected increased amounts due for client-reimbursed costs.
During 2009, the Company's adjusted net income increased to $44.6 million from $38.5 million in 2008.
The Company generated $48.5 million in cash from operating activities in 2009 compared to $43.4 million in 2008.
David J. Stern, Chairman and Chief Executive Officer of DJSP Enterprises commented, "DJSP delivers unparalleled customer service by combining unique mortgage and foreclosure expertise with highly automated electronic processing. This efficiency has historically enabled us to significantly grow both our top and bottom-line results. As a public company we will be able to leverage our expertise, diversify our service offerings, and expand geographically in order to accelerate our growth and enhance our client relationships. Going forward, we are particularly excited about our REO business which will become an increasingly significant source of revenue and income growth in the coming years."
Management Guidance:
The Company reaffirms its previously announced guidance. For 2010, the Company expects to report adjusted net income of approximately $49 million and adjusted EBITDA of approximately $80.6 million, excluding any one time transaction expenses associated with the Business Combination.
DJSP Enterprises, Inc. Reports Revenue of $260.3 Million and Adjusted Net Income of $44.6 Million for 2009
8 minutes ago - Pr Newswire
Related Companies
Symbol Last %Chg
DJSP 10.50 1.55%
DJSPU 15.90 0.63%
As of 3:57 PM ET 3/11/10
DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW, DJSPU), one of the largest providers of processing services for the mortgage and real estate industries in the United States, today announced financial results for the three and 12 month periods ending December 31, 2009 for its recently acquired processing operations. The operating results discussed in this press release reflect the separate operations of the acquired business for the periods presented on an adjusted basis, each of which occurred prior to the closing of the Business Combination with Chardan 2008 China Acquisition Corp. on January 15, 2010.
Processing Operations Fourth Quarter Financial Highlights
Revenue for the quarter increased 33.3% to $70.5 million from $52.9 million in last year's comparable period. For the year 2009, revenue increased 30.7% year over year to $260.3 million.
Adjusted Net income was $12.1 million in the fourth quarter. For the 12 month period, adjusted net income was $44.6 million or $2.14* per share .
Adjusted EBITDA for the fourth quarter was $19.1 million, and for the 12 months was $69.9 million.
*Calculated using treasury stock method assuming a common share price of $9.80; Assumes 20.82 million shares outstanding; Assumes adjusted net income for year ended December 31, 2009 of $44.6 million.
Subsequent to Quarter End
Chardan 2008 China Acquisition Corp. closed its business combination with DAL Group, LLC on January 15, 2010 and changed its name to DJSP Enterprises, Inc. and its NASDAQ symbols to DJSP, DJSPU and DJSPW.
Fourth Quarter Results for Processing Operations
Net revenue from operations for the three months ended December 31, 2009 increased $17.6 million, or 33.3%, to $70.5 million from $52.9 million in last year's comparable period. The revenue improvement resulted from an increase in the number of mortgage foreclosures taking place in the Company's principal market, Florida, as well as the expansion of REO (bank-owned) activities. During the three months ended December 31, 2009, revenue from mortgage foreclosure related services, net of revenue from client reimbursements, increased by $2.5 million, or 8.5%, to $32.3 million, compared to $29.7 million for the same period last year. Our REO liquidation business, which emanates from a single customer, became an increasingly significant source of revenue during the quarter, generating $3.4 million in revenue, with approximately an 88% gross margin. Revenue for the same three months of 2008 was $1.5 million. Going forward, management intends to offer both REO closing and liquidation services to additional customers as a means of increasing revenues and profits. The remainder of the increase in revenue was due to increased client-reimbursed costs.
Adjusted net income increased to $12.1 million for the three months ended December 31, 2009 from $7.2 million for the same period in 2008.
2009 Full Year Results
Net revenue for the 12 months ended December 31, 2009 increased $61.1 million, or 30.7%, to $260.3 million from $199.2 million in last year's comparable period. The revenue improvement resulted from an increase in the number of mortgage foreclosures taking place in the Company's principal market, Florida, as well as the expansion of REO activities, which increased approximately 175% to $11.2 million compared with $4.1 million in the same period in 2008. Revenues from mortgage foreclosure related services, net of revenue from client reimbursements, increased by $14.3 million, or 13.4%, to $121.2 million, compared to $106.9 million for the same period last year. The remainder of the increase in revenue reflected increased amounts due for client-reimbursed costs.
During 2009, the Company's adjusted net income increased to $44.6 million from $38.5 million in 2008.
The Company generated $48.5 million in cash from operating activities in 2009 compared to $43.4 million in 2008.
David J. Stern, Chairman and Chief Executive Officer of DJSP Enterprises commented, "DJSP delivers unparalleled customer service by combining unique mortgage and foreclosure expertise with highly automated electronic processing. This efficiency has historically enabled us to significantly grow both our top and bottom-line results. As a public company we will be able to leverage our expertise, diversify our service offerings, and expand geographically in order to accelerate our growth and enhance our client relationships. Going forward, we are particularly excited about our REO business which will become an increasingly significant source of revenue and income growth in the coming years."
Management Guidance:
The Company reaffirms its previously announced guidance. For 2010, the Company expects to report adjusted net income of approximately $49 million and adjusted EBITDA of approximately $80.6 million, excluding any one time transaction expenses associated with the Business Combination.
Something amiss with this company, they don't tell you how many shares are outstanding, so no eps. The stockholders equity tanked.
Like Lucy says, they got some splaining to do in the morning, lots of holes in this baby. I could do 80 million and loose 10 million whats the point.
Good luck to all of you on this baby.
Like Lucy says, they got some splaining to do in the morning, lots of holes in this baby. I could do 80 million and loose 10 million whats the point.
Good luck to all of you on this baby.
Ummm:
"For the 12 month period, adjusted net income was $44.6 million or $2.14* per share.
*Calculated using treasury stock method assuming a common share price of $9.80; Assumes 20.82 million shares outstanding; Assumes adjusted net income for year ended December 31, 2009 of $44.6 million."
This doesnt take into account all the warrants, so EPS is not truly $2.14, but considering the stock just hit $11.20 in AH, I think people realize a good deal when they see it.
$2.14 EPS for a $10 stock? Dont need good luck bro.
Erwin:
They are a SPAC (Special Purprose Acquisition Company) ... they just filed their first report as a company a few weeks ago. This is their second filing. They will now be on the big boy's radars and likely will be a $30-$40 stock a year or two from now. That's why it was a table-pounder at $9.
I dont recall Equity Funding, but after quick research, I see you're trying to compare DJSP (previously a private company) to a company that had an accounting fraud situation 50 years ago. Clearly not a fair comparable, but to each his own.
You can decide for youself, clearly you've got other investments that have made you a killing in the market. I stick to what I know.
And what I know is, with all these foreclosures and mortgage servicing being a hot industry, this is the type of company I want my money to be in.
The earnings aren't collected yet. They are sitting in A/R instead of cash. However, the customers who owe them money are big banks. Quality should be fairly good.
The a/r's actually declined significantly from 12/08 to 9/09, by 14 million dollars. The problem may be that a good chunk of revenues is client reimbursed expenses. So DJSP has to spend the money on behalf of the client, then bill them on a regular basis. This stretches out the time to collect. They mention that they have streamlined the procedure, which is why a/r's fell by 14million. Until we see the business operate thru several qtrs, we may not be able to judge what a normal amt of a/r should be.
The business cycle for this service company may be somewhat capital intensive and they may need financing to continue to grow. It's not bogus earnings if they end up collecting the a/r's and have good profitability. It's just not going to immediately end up in the bank. Need more info.
The a/r's actually declined significantly from 12/08 to 9/09, by 14 million dollars. The problem may be that a good chunk of revenues is client reimbursed expenses. So DJSP has to spend the money on behalf of the client, then bill them on a regular basis. This stretches out the time to collect. They mention that they have streamlined the procedure, which is why a/r's fell by 14million. Until we see the business operate thru several qtrs, we may not be able to judge what a normal amt of a/r should be.
The business cycle for this service company may be somewhat capital intensive and they may need financing to continue to grow. It's not bogus earnings if they end up collecting the a/r's and have good profitability. It's just not going to immediately end up in the bank. Need more info.
DJSP
Listening to the CC right now. The CEO just said that they are in dicussions for aquiring some other business which will give them a lot more business in a few different parts and he thinks this will be huge and it's NOT included in the 49 million net income guidance for 2010. Very nice, I guess we will be a lot closer to $60 million in net income as we will be to $49 million.
Sweet!!
$15 gonna come quick.
Listening to the CC right now. The CEO just said that they are in dicussions for aquiring some other business which will give them a lot more business in a few different parts and he thinks this will be huge and it's NOT included in the 49 million net income guidance for 2010. Very nice, I guess we will be a lot closer to $60 million in net income as we will be to $49 million.
Sweet!!
$15 gonna come quick.
DJSP
Listening to the CC right now. The CEO just said that they are in dicussions for aquiring some other business which will give them a lot more business in a few different parts and he thinks this will be huge and it's NOT included in the 49 million net income guidance for 2010. Very nice, I guess we will be a lot closer to $60 million in net income as we will be to $49 million.
Sweet!!
$15 gonna come quick.
I would love to buy puts on this baby, too bad there not available. I consider all you guys on this board friends, and if I were you get the hell away from this thing. It's not going to be a good deal for anybody but the people that are running this thing.
40 years of investment experience I've never seen anything like this.
My track record speaks for itself. All investments come with risk, but I have no idea why erwin is bashing a stock that just put out incredible earnings and is clearly under-valued at current prices.
Everyone here is an adult -- or so i think, lol -- and everyone should invest in whatever they choose and feel most comfortable with. I'm not trying to convince anyone of anything, I'm simply presenting investing opportunities as they arise. This is what an investment forum is for, finding opportunities to make money.
I make absolutely nothing sharing these stocks with the forum, other than getting more investors involved early enough to profit the most. However, I will not back down in recommending DJSP as it is still a cheap stock.
Erwin:
You've lost my respect and reading interest; therefore, I will no longer pay much attention to your posts.
However, I will let you know as soon as Options become available for DJSP ... you can buy Puts, and I'll buy Calls.
BSPM -- simply incredible write-up on BSPM in the OTC Journal, this will turn some more heads for sure.
http://www.otcjournal.com/Biostar-Pharma-BSPM-Answers-HepB-Global-Plague/af/archive/20100313-1/
They also outline the positives up-listing would have as a catalyst to drive the price even higher.
http://www.otcjournal.com/Biostar-Pharma-BSPM-Answers-HepB-Global-Plague/af/archive/20100313-1/
They also outline the positives up-listing would have as a catalyst to drive the price even higher.
CCME
Presenting at the Roth Capital Partners 22nd Annual OC Growth Stock Conference on March 16th at 3:30pm PST
Sign up for the webcast here: www.wsw.com/webcast/roth23/register...=index&url=http://www.wsw.com/webcast/roth23/
Other presenting companies can be found here:
www.meetmax.com/sched/rcp310/~public/conference_presentations.html?event_id=4890
And dont forget, Earnings are on Tuesday, March 23rd. If they come in where I'm expecting, $15 should be an easy run within the next few weeks.
Presenting at the Roth Capital Partners 22nd Annual OC Growth Stock Conference on March 16th at 3:30pm PST
Sign up for the webcast here: www.wsw.com/webcast/roth23/register...=index&url=http://www.wsw.com/webcast/roth23/
Other presenting companies can be found here:
www.meetmax.com/sched/rcp310/~public/conference_presentations.html?event_id=4890
And dont forget, Earnings are on Tuesday, March 23rd. If they come in where I'm expecting, $15 should be an easy run within the next few weeks.
YONG
I dont have a large investment here, but it'd be hard to lose money with this one.
Yongye Announces Fourth Quarter and Full Year 2009 Financial Results
"Adjusted net income, which excludes the impact of non-cash charges related to the change in fair value of derivative liabilities of $24.0 million, was $26.2 million, or $0.83 per diluted share, compared to $11.2 million, or $0.56 per diluted share, last year"
I dont have a large investment here, but it'd be hard to lose money with this one.
Yongye Announces Fourth Quarter and Full Year 2009 Financial Results
"Adjusted net income, which excludes the impact of non-cash charges related to the change in fair value of derivative liabilities of $24.0 million, was $26.2 million, or $0.83 per diluted share, compared to $11.2 million, or $0.56 per diluted share, last year"
CCME
We anticipate a significant change in our results of operations from the corresponding period in the last fiscal year due to our former status as a shell company. Based on currently available information, we anticipate reporting net income of approximately $41 million for the year ended December 31, 2009.
Ohh yeah, no concerns anymore. $15-$20 here come over the next month or two. Throw in 2010 Guidance and we'll see $20+ by June imo. Weeeeeeeeeeeeeeeeeeee
http://yahoo.brand.edgar-online.com...id=747733&ppu=%2fdefault.aspx%3fcik%3d1399067
Ohh yeah, no concerns anymore. $15-$20 here come over the next month or two. Throw in 2010 Guidance and we'll see $20+ by June imo. Weeeeeeeeeeeeeeeeeeee
http://yahoo.brand.edgar-online.com...id=747733&ppu=%2fdefault.aspx%3fcik%3d1399067
