Phoenix Tech. (PTEC) Software Initiatives Could Drive it Back to a Billion Dollar Company -Barron's
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In this weekend's edition of Barron's, the publication highlighted several new initiatives at software company, Phoenix Technologies (Nasdaq: PTEC).
The article cites CEO, Woody Hobbs, as working to "expand Phoenix's role on the average PC" through two fundamental changes: "providing deeply embedded software and offering more functionality."
The first initiative aimed at meeting these potential improvements involves Phoenix's software FailSafe. According to Barron's, FailSafe will be burned into a PC's BIOS, or its core hardware, in order to protect a user's notebook from unauthorized intruders. Placing such a program in a computer's BIOS is advantageous as the software will not need to rely on an operating system such as Windows.
The second initiative, which comes from a recent deal with BeInSync, will provide seemless backup of data on Phoenix servers. "The idea is to make data backup a core part of the computing experience -- and to create a steady revenue stream."
Lastly, Barron's mentions Phoenix's software, HyperCore, which would allow a much higher degree of functionality outside a PC's operating system, as the Company's third initiative. HyperCore allows users to perform core functions, such as web surfing, while he or she is waiting for the computer to boot. Additionally, HyperCore would allow users to watch DVD's without booting Windows, for example, which could extend battery life.
Currently trading near $16 and valued at about 80x FY09 EPS estimates, an analyst at Roth Capital Partners believes "none of the new initiatives are yet in the estimates." The analyst expects Phoenix's BIOS business to grow from about $70 million this year, to about $100 million in 2011, but feels this segment actually deserves a stock-market value of about $300 million. [BCS]
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