Sometimes the most boring stocks produce the most exciting results.

Look at Forward Industries (FORD), which designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. It provides carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS location devices, tablets, firearms, and other products.

FORD isn’t one of the most exciting stocks.

However, The Cheap Investor liked what it saw, recommending the stock at $1.29 in the January 2017 issue, and again at $1.07 in the September 2017 issue.  In September, we found the company had a healthy balance sheet with about $4.1 million ($0.46 in cash), a book value of $0.93 and no debt.

Earnings growth was just as impressive.

In the third quarter of 2017, FORD posted revenue of $7.33 million, which was well above the $6.66 million posted a year earlier.  Net income was $551,926, as compared to $77,956 year over year, as well.  EPS was six cents, as compared to one-cent.

We were so impressed with the stock, we noted that, “If the company continues to increase revenues and net income, the stock will do very well over the next year or two.  We think it has the potential to move 50% to 75%.”

However, it did even better than that.

At a recent high of $4.45, our subscribers were up as much as 245% and 316% thanks in part to news that the company acquired leading product design and development company, Intelligent Product Solutions (IPS) for about $1.9 million in cash, and the assumption of $1.5 million of outstanding debt.  To fund the acquisition, Forward issued a $1.6 million promissory note to Forward Industries (Asia-Pacific) Corporation in consideration for a one-year loan.

According to CEO Terry Wise:

“I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech `smart` pill bottle will significantly strengthen and contribute to Forward Industries. As a Group, we are now able to offer a complete design, development, manufacturing and distribution service. We face exciting times ahead."

Investors seemed to have been very pleased by the news, sending the stock from a close of $1.24 on January 18, 2018 to a high of $4.45 on January 19, 2017.

This just goes to prove that even the most boring stocks can produce the most exciting results.

The Cheap Investor will continue to search for stocks like Forward Industries, which gave our subscribers potential profits of 245% and 316% to date!