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September 18, 2006 Stock Pick: PacificNet, Inc. (PACT)

Stock Price: $5.18

PacificNet Inc. through its subsidiaries, invests in and operates companies that provide customer relationship management and e-commerce services in China. The company's clients include the leading telecoms, banks, insurance, travel, marketing, and business services companies, and telecom consumers, in Greater China.

PACT just opened a new office in Macau, China to focus on the rapidly growing Macau gaming & entertainment market. This comes after the acquisition of Able Entertainment Technology Ltd. enabling PACT to enter the fast growing electronic, mobile gaming market.

Macau is the Las Vegas of China expected to surpass Las Vegas in total revenues by the end of this year. PACT is the FNET of China. FNET recently gained 127% within three days of our stock pick.

PACT has traded in a tight range between $5.00 and $5.50 for over a month.

The fundamentals are too strong for PACT to stay in this range. PACT is trading at a market cap of only $58.89 million with revenue last quarter of $19.3 million and net income of $952,000, or $0.09 EPS. PACT expects to earn revenue between $74 and $77 million this year.

There are only 7.80 million shares in the PACT float. PACT has a book value of $4.00.

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