Four updates

By: John Gay - The Quiet Investor - Date: October 26, 2006

XATA Corp (XATA) announced revs up 52% in 3Q, deferred revs up 71% to $13 million and 9 months revs up 62%. Their system is now in 52,000 trucks, still a drop in the bucket of the whole market. Their loss narrowed to 9c vs 11c, and they have $8.3 million in cash. This year will be unprofitable as they fine tune and expand the usefulness of their software, but next year should begin the emergence of continually expanding.

We are going to sell three companies: Bioject (BJCT), Hines Horticulture (HORT), and United Energy (UNRG). Any, or all three, may eventually come through as winners but they have all stumbled in their quests.

Bioject (BJCT) because they are still losing big money as they try to commercialize their needle-less drug injection system and while running short of money;

Hines Horticulture (HORT) because their debt is finally forcing them to sell assets and retrench, maybe leaving them with too little to be as profitable as they had expected (the Florida hurricanes had an effect, too); and

United Energy (UNRG) because revenues are still limping along in very small numbers despite the promise mgt thought their product had, and the expected "big order" just over the horizon.

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