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Technology Stocks : Cognicase (COGI, T.COG) - Integrated IT Solutions
COGI 4.550+8.3%Jul 18 5:00 PM EST
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To: March_fin who wrote (52)2/6/1998 1:01:00 AM
From: BM   of 843
 
First Albany sees a bright future

Thu 5 Feb 98 In the News

The Financial Post reports in its Thursday edition that shares of Cognicase
rose $1.35 to $20.75 on the Toronto Stock Exchange on Wednesday, on volume
of 26,200 shares.

Market Action columnist Ian Karleff notes that shares of
CGI Group rose $1 to $35 on volume of 50,700 shares. Both Montreal-based
information technology service companies are benefiting from the impending
year 2000 computer crisis.

Cognicase went public in October 1997 and its
shares have gained 20 per-cent since the beginning of 1998. The firm said
its net income climbed to $0.16 a share in the first quarter of fiscal 1998
from $0.01 a share in the year-earlier period. Revenue climbed to US$4
million, up 238 per-cent from US$1.7 million in the first quarter of fiscal
1997.

First Albany analyst Damian Rinaldi says the year 2000 crisis not
only opens a door for emerging information technology firms, it also puts
them in a good position to exploit other challenges after 2000.

[Note - during Tuesday's conference call, management mentioned that only 30%
of revenues are coming from Y2k; the remainder is coming from migration work.
Of course some of the migration work may be being hastened by Y2K].

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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