8/31/2009

Pervasive Software (PVSW)

Pervasive Software (PVSW)

Doing some systems work tonight and stumbled upon a stock I once owned. The most interesting aspect of this stock is as follows:

*Very aggressive share buybacks over the past few reported quarters. In fact they spent 12,254,000 to buy back shares at depressed prices over the past 5 quarters.

* The current share count has been reduced and is about the same count in 2003.

* FCF generated over the past 3 years as a percentage of the current enterprise value was 15%. Current FCF/EV = 12.62%

* Net income total over the past 3 years was $4,066,667. FCF was 8,500,000 over the prior 3 years.

* YTD return is 23.90%, one month return is -2.60%, 17% below the 52 week high.

* EV = 57.395 million, EV/Sales = 1.26, OI/EV = 11.06%, EBITDA/EV = 14.20%,
I don’t own shares at this time but if the stock continues to fall I may consider.

Looking into ALOY

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