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May 23, 2005

SpeculatingStocks.com Stock Pick: Forward Industries, Inc. (FORD)

Stock Price: $19.42


Forward Industries, Inc. is a designer and distributor of custom carrying case solutions for cell phones, cameras, and medical equipment. The company's main customers are original equipment manufacturers (OEMs).

The company recently reported second quarter revenue of $11.24 million and earnings of $2.02 million, a four fold increase. They have no long-term debt and $5.3 million in cash on the balance sheet.

Sales are really being driven by the sale of "in-box" carrying solutions sold to Nokia and Motorola bundled with certain models of their new phones. The company expects continued strong demand in this area through the third quarter, possibly beyond.

Even with the big run in FORD shares, it appears they are still undervalued. There are only 6.30 million shares in the float. The market cap is still low at $131 million. Volume has continued to hold up.

 
     
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