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July 1, 2005 Stock Pick: Bitstream Inc. (BITS)

Stock Price: $3.80

Bitstream Inc. is a software development company specializing in font technology, browsing technology, e-commerce technology, and publishing technology. The company is focused on the wireless handheld market with its ThunderHawk browser for mobile phones and personal digital assistants.

Now, it looks clear for BITS to start moving towards its 52-week high of $5.30.

The company reported first quarter sales of $3,396,000, up 24% from the same period last year. Net loss was only $72,000, a 79% improvement. It looks as if Bitstream will report a profit for the second quarter.

There are 8 million shares in the float and almost none are being shorted at this time.

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