By KRYSTLE CHOW
Published in the Ottawa Business Journal newspaper and website.
June 29, 2009 (July 2 on OttawaBusinessJournal.com)

Bridgewater could benefit from the one area where carriers are still spending

While many other tech companies have seen their stock value plunge since the onset of the recession as customers trim or delay their spending, Bridgewater Systems is one of the few exceptions.

Although its share price has dipped somewhat in recent weeks, over the past six months its value has more than doubled, hitting a 52-week high of $5.25 in May that brought it close to revisiting its $5.50 initial public offering price. With record revenues in its last fiscal year and recent deals with major partners and customers, as well as a successful compromise with shareholder Crescendo Partners that helped avert a messy proxy battle, the path seems clear for the mobile service management software firm to capitalize on the rising popularity of the smartphone. So is there a downside?

The company’s view: Bridgewater CEO Ed Ogonek has said the company is at the “front stage of a mobile data revolution.” As more people request services and add more applications onto their mobile devices, demand for Bridgewater’s subscriber management and policy control technology is expected to soar, which makes sense considering many users are already drowning in a sea of applications ranging from the mundane and functional to a plethora of online games.

Mr. Ogonek noted the company is debt-free, has reported profits in 19 out of its last 20 quarters and, notably, has enough cash to be conducting an ongoing share buyback program and to be considering strategic acquisitions. Continue reading →

By KRYSTLE CHOW
Published in the Ottawa Business Journal newspaper and website.
June 8, 2009

Click here to view this article on OBJ.ca.

Shift from Canadian GAAP to new standards not just a matter for finance departments

Although it isn’t until Jan. 1, 2011 that reporting issuers must officially switch from using current Canadian accounting standards – known as Generally Accepted Accounting Principles – to the new International Financial Reporting Standards, many firms have already started the complicated, multi-phase process.

And not a moment too soon, experts say. “It’s not just an accounting change,” says Carol Devenny, who’s in charge of PricewaterhouseCooper’s audit practice.

Among other things, the level of disclosure required of a company will increase, meaning most departments, if not all, will have to start gathering new and more detailed types of information to comply. A firm might find it has to overhaul its entire IT system to accommodate the changes, some say.

As well, adds Ms. Devenny, shareholders will have to be appraised Continue reading →