IPCS Inc. (IPCS) should post massive growth figures this year as analysts continue to revise estimates.

Company Description

IPCS has the Sprint PCS Affiliate with exclusive rights to sell wireless devices through Sprint Nextel. The company’s network is located in primarily the Midwestern states at Best Buys and other local retailers.

Crushing Estimates

On July 30 IPCS reported second quarter results that included revenue of $107 million, up from $94 million one year ago. The 14% increase drove earnings up to 43 cents per share, or $7.4 million. EPS rose exponentially from a loss of 4 cents in the same period last year.

This was the third consecutive earning surprise, as analysts were expecting just 14 cents.

Exponential Growth

Following the report the Zacks Consensus Estimate for full-year 2009 has surged to $1.27, up from 80 cents. Comparing this to a 25 cent loss last year and you get a growth rate of over 600%.

Forecasts for next year are currently averaging $1.72, up from $1.48, good enough for a 35% growth rate. The next earnings release is expected on Nov 10.

Reasonably Priced

IPCS remains a solid value with shares exchanging hands at just 13.5 times the forward earnings. The PEG ratio is an average 1.1 times.

The Chart

Shares of IPCS are having trouble breaking through he $19 mark. Given the trending estimates, the next report could provide the stock with enough momentum to push through that level.

Zacks Investment Research
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