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Technology Stocks : Looking for info on IMNT

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To: Jay Larrabee who wrote (398)	4/7/1998 9:01:00 AM
From: Rick Smith	Read Replies (1) of 484

Punk Ziegel reiterates Strong Buy Recommendation. He's lowered his target from 42 to 35 for the year but still sees very strong growth going forward and is absolutely convinced that IMNT gets the DOD contract. His explanation for the backlog/revenue recognition policy made sense. IMNT has always showed an increase in their backlog and that's why they didn't recognize more out of the backlog this quarter to make up for the delayed contracts. By increasing their backlog each quarter, they are attempting to make their future earnings more predictable and take away the bargaining power that these hospitals currently feel they have in waiting until the last minute to sign the deals. He believes that we will be back to the mid twenties before the next quarter's earnings report in three months. On another front IMNT will be presenting at a major health care conference sponsored by Smith Barney either today or tomorrow. If their story is well received and informal meetings after the session prove fruitful, we may see a slight rebound. Just a little news while we wait for the earnings to actually come out. The bad news is out. Now let's see if there's some good news they can report. Good Luck. R..

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