New Contracts a Plus For These Two

Article Excerpt

GREY ISLAND SYSTEMS INTERNATIONAL $0.23 (Toronto symbol GIS; SI Rating: Speculative) (877-434-4844;; Shares outstanding: 73.9 million; Market cap: $16.6 million) is an Internet-based automated vehicle location and mobile data services provider for the fleet management market. Grey Island’s InterFleet product features a live map display of entire fleets of vehicles. The company’s NextBus technology uses GPS and wireless communications to predict arrival times for riders. NextBus is in use by over 40 transit systems across North America. In the three months ended June 30, 2008, Grey Island’s revenues rose 50.1%, to $5.8 million from $3.8 million a year earlier. The company earned $440,795 or $0.005 a share, compared to a loss of $336,682 or $0.004. Grey Island had positive cash flow of $777,879 or $0.009 a share in the latest quarter, The company holds cash of $11.3 million or $0.15 a share, and has almost no debt. New contracts with big cities The San Francisco Municipal Transportation Agency recently raised the value of…

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