Smaller and Smaller...
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At the current rate of the slowdown in the IPO market, there may be nothing to write about very soon. So long as Nasdaq continues its woes, the IPO market will be a stark place indeed.
Yet, there are some interesting prospects for next week. Take a look at Optical Communication Products.
Hey, with a name that has "optical," this is usually a good sign of a strong IPO. And yes, the company develops a line of products for high-performance optoelectronic subsystems for metropolitan area networks. The product line is fairly comprehensive. There are: optical transmitters, receivers, transceivers and transponders (which convert electrical signals into optical and back). The result is high-speed communication of voice and data traffic over public and private networks.
The company is showing strong growth. Last year, revenues were $36 million. As for the last nine months (ended June 30), the company had $69.1 million. The customer list includes the biggies like Nortel Networks, 3Com, Alcatel, Cisco and CIENA.
Next, there is Metavante. Think of it as a one-stop shop for financial institutions to implement any type of technology (transaction processing, software, consulting). The model is based on ASP (application service provider); that is, customers access services and technologies straight from public or private networks.
The financial industry is under intense pressure. To offer better services means having better technology. But for most financial institutions, they lack in-house technical talent.
Interestingly enough, the company has been in existence since 1964. And the company is a pioneer, as well. It processed the first Internet banking transaction in 1995.
The company has over 3,300 clients. Last year, the company generated $546.3 million in sales and $36.9 million in profits.
The lead underwriter is CS First Boston and the price range is $10-$12 (the company intends to issue 16.5 million shares). The proposed ticker symbol is MVNT.