|
infg is one of my favorite longshots and is a company with several wildcards. here is one of them today...trading in the 2.50-3.00 range...2.8m shares outstanding on the otc bb...do your own due diligence:
(PR NEWSWIRE) Infinite Graphics Begins $1.5 Million Project
Infinite Graphics Begins $1.5 Million Project
MINNEAPOLIS, June 27 /PRNewswire/ --
Infinite Graphics Incorporated (OTC Bulletin Board: INFG) announced that
it is partnering in a $1.5 million project to evaluate, research develop or
purchase state-of-the-art systems to clean, repair and inspect Large Area
Masks (LAM). The project also includes research and development of
enhancements in LAM inspection and cleaning. INFG will share the expenses
equally and have rights to the system and prototype equipment developed.
"This is another indication of Infinite Graphics' technological leadership
in the domestic LAM Marketplace," said Cliff Stritch, Infinite Graphics
President.
"Mask quality is a vital factor in the annual $250 million world-wide LAM
market. Quality is assured by the best cleaning, repair and inspection
capability. The project helps us to bring these capabilities to a new level
of efficiency and accuracy.
"It has come at a perfect time," said Mr. Stritch. "Our 'February 27, 1998
License and Asset Purchase Agreement' with Global Maintech (GMC) was
terminated, bringing back the technology, and INFG has hired most of the
software staff that sell, support, and develop the technology. The expanded
staff will be utilized in a number of projects, including this project, the
eminent opening of our Singapore LAM capacity and the continuing up-grade of
company software.
"Meanwhile we have surpassed budget since January," continued Mr. Stritch.
"We believe this is an indication that our strategies are working and that we
are on the path leading to an expanding position in the dramatic World LAM
Market."
The matters discussed above may be considered forward-looking statements
and may be subject to risks and uncertainties, including market fluctuations,
pricing, competition, procurement, manufacturing efficiencies and other risks,
that could cause the actual results to differ materially from those projected.
About the Company:
Since 1969, Infinite Graphics has been a leader in precision graphics
services for the global electronics manufacturing industry.
The acquisition of a major supplier of Large Area Masks (LAM), and the use
the latest direct imaging technology has made IGI the largest and arguably the
most advanced domestic provider of Large Area Masks. LAMs are vital to
manufacture in the burgeoning flat panel display, cellular phone,
semiconductor and other electronics markets.
Other Infinite Graphics technologies verify the manufacturability of
electronic designs, and manufacturing plans as well as possible design
modifications to increase yields and reduce costs. Its technology will
automatically fix the problems found by its analysis. IGI also distributes
Other Infinite Graphics technologies verify the manufacturability of
electronic designs, and manufacturing plans as well as possible design
modifications to increase yields and reduce costs. Its technology will
automatically fix the problems found by its analysis. IGI also distributes
Heidelberg Imagers and CSI Fire 9000 photoplotters.
Infinite Graphics' common stock is quoted in the over-the-counter bulletin
board (OTC-BB) market under the symbol INFG.
SOURCE Infinite Graphics Incorporated
-0- 6/27/2000
/CONTACT: Barry Onufrock, Chief Financial Officer of Infinite Graphics
Incorporated, 612-721-6283, igi.com , or Peter Leech, President of
TPL & Associates, 847-317-0100, investorelations.org /
/Web site: igi.com /
(INFG)
CO: Infinite Graphics Incorporated
ST: Minnesota
IN: CPR
SU: JVN
Infinite Graphics Reports Capital Infusion
MINNEAPOLIS, June 16 /PRNewswire/ --
Infinite Graphics Incorporated (OTC Bulletin Board: INFG - news) reported it had received a capital infusion of approximately $500,000.
``We privately placed 222,222 shares of Infinite Graphics Common stock at $2.25 per share,'' explained Cliff Stritch, president and CEO. ``The new shares increase total shares outstanding approximately 7%, from 2.8 million to 3.0 million.''
``The capital allows Infinite Graphics to continue its aggressive strategy to capture a larger share of the dynamic worldwide LAM market,'' said Mr. Stritch. ``The capital will be used for the opening of our Singapore office as well as accelerated marketing, research and development.''
The matters discussed above may be considered forward looking statements and may be subject to risks and uncertainties, including market fluctuations, pricing, competition, procurement, manufacturing efficiencies and other risks, that could cause the actual results to differ materially from those projected.
About the Company: Since 1969, Infinite Graphics has been a leader in precision graphics for the global electronics manufacturing industry. The acquisition of a major supplier of Large Area Masks (LAM), and the use of the latest direct imaging has made IGI the largest and arguably the most advanced provider of Large Area Masks. LAMs are vital to manufacture in the burgeoning flat panel display, cellular phone, semiconductor and other electronics markets. Other Infinite Graphics technologies verify the manufacturability of electronic designs, and manufacturing plans as well as possible design modifications to increase yields and reduce costs. Its technology will automatically fix the problems found by its analysis. Additionally, IGI distributes Heidelberg Imagers and CSI Fire 9000 photoplotters. Infinite Graphics' common stock is quoted in the over-the-counter bulletin board (OTC-BB).
(PR NEWSWIRE) Infinite Graphics Reports Third Quarter Results
Infinite Graphics Reports Third Quarter Results
MINNEAPOLIS, March 22 /PRNewswire/ --
Infinite Graphics Incorporated (OTC Bulletin Board: INFG) reported a loss of
$383,756, or $.14 per share, on sales of $1,699,595 for the period ending
January 31, 2000. The loss compares with a profit of $79,956, or $.03 per
share, on sales of $1,097,629 for the same period one year ago. The nine
months ending January 31, 2000 shows a loss of $284,441, or $.10 per share, on
sales of $5,858,373, versus a profit of $243,630, or $.09 per share, on sales
of $3,244,595 for the same period a year earlier.
"The loss for the quarter was caused primarily by an unexpected
substantial slowdown in business at the end of the calendar year," explained
Cliff Stritch, president and CEO. "This slowdown was temporary, and revenues
have returned to budgeted levels in March. The company has moved aggressively
to reduce operating expenses and to increase sales from new accounts. We
believe that this action will largely restore profitability in Q4.
"Our company's profitability is very dependent on sales volume as its
fixed expenses are naturally very high. Our current fixed expense level is
aimed at supporting sales in the $10 million plus range because we are
convinced that we have a major opportunity. We can attain a much higher
business level in the Large Area Mask (LAM) marketplace, and we have invested
heavily to achieve it. The key markets in this area, semi-conductor
packaging, Flat Panel Displays (FPD) and fineline rigid and flex printed
circuit boards (FPCB) are continuing their rapid growth. Analysts agree that
substantial market growth is expected in these areas over the next several
years.
"We carefully reviewed our strategic alternatives in FY1997, and made two
decisions as a result of that examination," continued Mr. Stritch. "The first
was to concentrate on our services business and to focus on the emerging
opportunity in LAM applications. The second was to divest the software
division of the company and to reinvest the proceeds to support LAM business
activity. Both actions have been taken. To date we have seen sales increase
84% from $3.2 million in 1998 to $5.9 million for the first nine months of
FY2000. The company expects this very rapid growth to continue.
"The completion of the sale of the software division has hit a problem
involving final payment. The company and the buyer are working to resolve
this problem. The company believes that the loss in Q3 does not reflect the
long-term outlook for earning and that continued focus into building our LAM
business will result in excellent value to our shareholders in the future,"
Mr. Stritch concluded.
The matters discussed above may be considered forward-looking statements
and may be subject to risks and uncertainties, including market fluctuations,
pricing, competition, procurement, manufacturing efficiencies and other risks,
that could cause the actual results to differ materially from those projected.
About the Company
Since 1969, Infinite Graphics has been a leader in precision graphics for
the global electronics manufacturing industry.
The acquisition of a major supplier of Large Area Masks (LAM), and the use
the latest direct imaging that has made IGI the largest and arguably the most
advanced provider of Large Area Masks. LAMs are vital to manufacture in the
burgeoning flat panel display, cellular phone, semiconductor and other
electronics markets.
Other Infinite Graphics technologies verify the manufacturability of
electronic designs, and manufacturing plans as well as possible design
modifications to increase yields and reduce costs. Its technology will
automatically fix the problems found by its analysis. Additionally, IGI
distributes Heidelberg Imagers and CSI Fire 9000 photoplotters.
Infinite Graphics' common stock is quoted in the over-the-counter bulletin
board (OTC-BB) market under the symbol INFG.
Infinite Graphics, Incorporated Financial Data (in thousands)
Three Months Nine Months
Ended Jan. 31, Ended Jan. 31,
2000 1999 2000 1999
REVENUES $1,700 1,097 $5,858 $3,245
COSTS AND EXPENSES:
Costs of products sold 1,232 823 4,181 2,258
Selling, general and
administrative 794 140 1,787 626
Interest 57 55 174 117
Total costs and expenses $2,083 $1,017 $6,142 $3,001
Net Income (loss) ($384) $80 ($284) $244
WEIGHTED AVERAGE NUMBER OF
COMMON AND EQUIVALENT
SHARES OUTSTANDING:
Basic 2,803 2,753 2,803 2,698
Diluted 2,803 2,874 2,803 2,785
NET INCOME (LOSS) PER SHARE: ($0.14) $0.03 ($0.10) $0.09
DILUTED NET INCOME (LOSS)
PER SHARE: ($0.14) $0.03 ($0.10) $0.09
BALANCE SHEETS UNAUDITED
January 31, April 30,
1999 1999
CURRENT ASSETS: $1,942 $2,236
PROPERTY, PLANT, AND EQUIPMENT, NET 2,827 2,716
PURCHASED SOFTWARE, NET 75 69
OTHER ASSETS 132 28
TOTAL ASSETS $4,976 $5,049
CURRENT LIABILITIES $2,380 $1,845
LONG-TERM DEBT, less current portion 675 765
CAPITALIZED LEASE OBLIGATIONS, less
current portion 856 1,090
STOCKHOLDERS' EQUITY 1,065 1,349
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $4,976 $5,049
SOURCE Infinite Graphics
-0- 3/22/2000
/CONTACT: Barry B. Onufrock, Chief Financial Officer of Infinite
Graphics, 612-721-6283, or Peter Leech, President of TPL & Associates,
847-317-0100, for Infinite Graphics/
/Web site: investorelations.org /
/Web site: igi.com /
(INFG)
CO: Infinite Graphics
ST: Minnesota
IN: CPR
SU: ERN
*** end of story *** |
|
