Barrington Reiterates Outperform on TIER Technologies

Barrington Research maintains its Outperform rating on TIER Technologies, Inc. (NASDAQ: TIER) as the company reports Q4/11 results on Tuesday. Barrington says, “We are estimating Q4/11 revenues of $26.3 million and a loss of $0.25 per share for the quarter. For FY/11, we are estimating revenues of $128 million and a loss of $0.47 per share. TIER ended the quarter with available cash of $33.8 million totaling $2.05 per share with no debt on its balance sheet. We believe the payment processing operation plus net cash on the company's balance sheet equate to a value of between $9-11 per share.” TIER closed at $4.11 per share on Friday.