Pimco Covered Bond Source Ucits (NYSE AMEX:COVR)

We are placing Cover-All Technologies on the GeoSpecial on the radar list. The company reported record fourth quarter results this evening.

Caveat:

 "We had a strong finish to 2009, due in no small part to the revolutionary capabilities of My Insurance Center and our reputation for delivering on our promises," commented Mr. Roblin. "These contracts are multiyear agreements that are by their nature complex. We cannot predict precise timing of new revenues given both the complexity of the contract process and the strict rules regarding revenue recognition."

The possibility for quarterly fluctuations is a concern.  Hopefully as the company grows in size this situation will change.  We think the story is worth following.

"We are proud to report our third consecutive record year and our 12th consecutive profitable quarter. The company is stronger than ever before and our opportunities to grow and expand have considerably increased. Moreover, we continue to grow our continuing, or recurring, revenue base setting the stage for increasing profitability. We have proven our business model and our ability to deliver consistent and record results. We expect 2010 to be a very exciting year as we expand our My Insurance Center offering with innovative new capabilities that will be attractive both to new as well as to our existing customers, making us even more competitive in the marketplace. We are also actively focused on additional strategic opportunities for growth." concluded Mr. Roblin.

Source: Businesswire (February 16, 2010)