On October 30th Nice Systems reported revenues of $38.5 million (up 14% over the prior year quarter) and a net profit of $425,000 or 3 cents per share.  Cash and investments were $90.2 million.  For the 4th quarter Nice expects revenues of $40 million with earnings of 10 cents a share.

        Nice Systems is acquiring Thales Contact Solutions for $30 million in cash and 2.2 million Nice shares.  Taking the acquisition into account  book value would be about $8.80 per share.  For 2003 revenues are expected to be over 200 million with earnings of 80 cents which gives a forward PE of about 10.  Nice is an ADR, trades well under 1x sales, and carries no debt. 

5/12/03 update: Recommend selling at the price of $15.11 for a 77% gain.