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No. of Recommendations: 1
Look excellent. Increase in utility invoice processing continues to drive the overall picture. No sign of a large slow down in other areas.

Managament declares no exposure to subprime. So unless you are concered about munis this type of risk appears to be absent. Management is clearly expressing confidence in the business. Stock buyback planned.

This appears to be a nice value at the current price.


http://biz.yahoo.com/bw/080130/20080130005213.html?.v=1

sw
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No. of Recommendations: 0
A very good report as expected. I've been scooping up more the last week or so while the price has been dropping. It's a well-managed business with a wonderful little moat. As the press release pointed out, banking is only 20% of the business (and complementary to the service bureau end of it), they are really more like an ADP or Paychex, but with pretty much an exclusive niche. I used to work in this business so can appreciate what they are doing. Thanks again, SW, for pointing them out, what was it two years ago now?! Cass won't win many stock-picking contests, but a good stock to hold on to for some income and long-term appreciation. -Ears
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Sorry, banking is not 20% of the business but more like 50%. And there was nothing in the press release about that. Other than that Mrs. Lincoln, enjoyed the play...
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But banks are now back in favor for the moment...one of the biggest winners over the last 2 weeks...

sw
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