On April 23rd Novadigm Inc., a provider of internet infrastructure and enterprise software, reported fiscal 2003 4th quarter revenue of $16.6 million which was down 5% over the prior year 4th quarter.  License revenue was $9.6 million while maintenance and service revenue was $7 million.  Net income for the quarter was $409,000 or 2 cents per share.  For the fiscal 2003 3rd quarter Novadigm reported revenue of $11.3 million with a net loss of $4.8 million or 24 cents a share so sequentially there was a significant improvement in revenue and income.  Full fiscal year 2003 revenue was $55 million as compared to full fiscal year 2002 revenue of $63 million.  On May 12th 2003 Novadigm announced a buyback plan of up to 500,000 shares or 3.6% of the float.  The company has cash and investments worth $29.6 million or $1.54 per share.  Book value is $1.33 per share.  With $55 million in sales last year and a $49 million market cap, the stock trades at less than 1x sales.  Novadigm also carries no debt.

     If you were to look at a long-term chart you would see that after trading well above $5 for most of the last 10 years the stock collapsed last summer and has yet to recover in a significant way. 

2/05/04 - CLOSED AT $6.03 FOR A GAIN OF 136%