Boston, MA 03/27/2014 (wallstreetpr) – Fiscal 2013 was generally a rewarding year for Supercom Ltd (NASDAQ:SPCB) from a financial standpoint, the CEO Arie Trabelsi observed when the company released financial results today. SPCB is a provider of intelligence solutions for healthcare and public safety. The company exited 2013 with revenue of $8.8 million and net income of $6.5 million or 71 cents per share. The electronic intelligence technology provider maintained gross margin of 79 percent, in a year that saw stockholder’s equity coming at $19.4 million. Towards repositioning itself as a leading intelligence technology provider, the company completed acquisition of SmartID, a division of On Track Innovations (NASDAQ:OTIV) in December 2013. According to CEO Mr. Trabelsi, they hope that SmartID will start contributing to the company’s financial strength in the first quarter of 2014. Supercom Ltd (NASDAQ:SPCB) undertook secondary stock offering to raise the funds for the acquisition, and the rest of the proceeds went into shoring up the balance sheet, working capitals and other corporate purposes. Alongside the widely positive results, the company also announced today winning a bid for a contract that is in the region of $25 million.
The upcoming presidential election in Brazil is impacting the performance of Brazil stocks. Stocks like Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR.B) are seen gaining every time opinion polls show that ratings of the current government is falling. The market is generally feeling that the present regime is not creating favorable business environment, and therefore a drop in rating of the company ends up pushing shares above. Thus, shares of Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR.B) gained the most in six months during yesterday session when polls showed that government approval dropped to 51 percent to 56 percent.
Roundy’s Inc (NYSE:RNDY), a retail grocery operator, had its shares coverage assumed at Bank of America Corp (NYSE:BAC). In a research note to investors today, equities experts at BAC assigned the stock a “buy” rating. With seven ratings firms having recently commented on the stock, RNDY carries consensus “hold” rating and average price target of $7.76 per share. Of the seven analysts currently tracking the stock of Roundy’s Inc (NYSE:RNDY), six have issued “hold” recommendation with one issuing “buy” recommendation. Shares of the company are currently trading in the range of $6.65, thus, the consensus target price implies possible upside in the stock.
