MCRO looks good value.
PER 10.2, Yld 6.5%, P/FCF 8.3 (which is absurd), EV/EBITDA 7.2, ROE 55.2%, 2013 forecast EPS up 9%.
MCRO makes software products – mainly for use by other developers. It sells Micro Focus Visual COBOL, which works on all major platforms (inc. Linux) – which is useful for migrating legacy code. It’s got SQL, you can do web apps, UIs, the full bifta. It’s not just for payroll.
It also sells a host of ther tools – like I say, mostly to support the software development process – test suite software, etc.
In April it announced that it will open a new office in Shanghai, and expand its operations in India.
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